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Wednesday, 22 September 2021, 20:46 HKT/SGT

Source: trusttoken
TrustToken Acquires EthWorks; Doubling Team Size for TrueFi Scale-Up
After recently raising +$12.5 million, the world's leading collateral-free lending platform is joining forces with a globally recognized team of Web3 engineers and designers.

San Francisco, Sept 22, 2021 - (ACN Newswire) - TrustToken, the team responsible for launching TrueFi, the leading unsecured lending protocol, and maker of popular stablecoins including TrueUSD, announces the acquisition of EthWorks, a leading Web3 development company with a deep portfolio of successful blockchain projects. The acquisition doubles TrustToken's team size, quadruples the company's technical talent, and brings in senior technical and design leadership to take TrustToken's mission to the next level.

Recognized as one of the world's top Web3 engineering firms, EthWorks has been a TrustToken partner for over a year, and contributed to the development of many of the most widely adopted Layer 1 blockchains and DeFi protocols. EthWorks has worked with the Ethereum Foundation, Bitcoin.org, Maker DAO, Polkadot, Dharma, and many more. The EthWorks team will fully integrate into TrustToken's staff and join the technical, design, and operational roadmap across all products and services, with a special focus on scaling the TrueFi protocol.

In onboarding the EthWorks team, the TrustToken team is growing to over 100 members and significantly expands the company's engineering, design, and cybersecurity capabilities. This new talent is expected to substantially accelerate TrustToken's development schedule, user experience and protocol security across the company's various products and services. TrustToken will also maintain and expand EthWorks' open-source projects including Waffle and useDApp which are used by Ethereum developers globally.

EthWorks' industry-recognized engineering and design leadership join TrustToken in senior positions, guiding the company's development and branding efforts. The senior leadership team will see Marek Kirejczyk, Founder and CEO of EthWorks, become Chief Technical Officer (CTO) of TrustToken. EthWorks' Head of Design, Natalia Kirejczyk, rises to become TrustToken's VP of Design, while EthWorks' CTO Krzysztof Jelski will become TrustToken's VP of Engineering. With this investment in senior talent, Poland is set to become TrustToken's primary engineering hub.

"As TrustToken matures and expands, we need to make sure our products and services are among the most robust, safe, and accessible in the blockchain industry," says Rafael Cosman, CEO of TrustToken. "The acquisition of EthWorks and its world-class team of engineers and designers is crucial for the future of TrueFi, helping us scale the speed, security, and experience of the protocol, while creating the greatest possible opportunities for our lenders, borrowers, and token holders."

"We're very excited to now be part of TrustToken's story," says Marek Kirejczyk, Founder of EthWorks. "TrueFi is the fastest growing uncollateralized lending protocol in DeFi. Our joining forces creates an unique opportunity to accelerate growth and create an outstanding impact in the DeFi space - and soon, in the world of institutional finance."

About TrustToken

TrustToken frees money. TrustToken's TrueFi platform, powered by the world's first on-chain credit model, brings uncollateralized lending to DeFi, offering lenders competitive, transparent returns, and borrowers maximum capital efficiency. TrueFi is host to +$1 billion in total value locked, has originated over $500m in collateral-free loans in less than a year, and enjoys a 100% repayment rate across its dozens of vetted borrowers. TrueFi's governance token, TRU, is trading on top exchanges like Coinbase, Binance, FTX, as well as DEXs like Uniswap and Sushiswap.

TrustToken's TrueCurrencies are the world's first on-chain, independently-verified, fully collateralized stablecoins, generating billions in monthly trade volume across +100 exchange and OTC partners. TrueCurrency users enjoy lightning-fast transactions, the lowest transaction costs of any stablecoin, easy exchange to and from fiat currency, and obsessive customer service.

Start using TrueFi at https://truefi.io, or learn more about TrustToken products at https://trusttoken.com

About EthWorks

EthWorks is a blockchain-oriented smart-contract development shop with a full stack engineering team utilizing high quality craftsmanship to deliver high quality coding. The company has been involved in the development of popular open-source projects including Waffle and useDApp. EthWorks practices test driven development, continuous delivery, rigorous code reviews, and pair programming. Successful clients include Ethereum Foundation, Polkadot, Dharma, and Status.

For more information and to explore EthWorks services, visit https://ethworks.io/index.html

Source: PlatoData Intelligence

Topic: Press release summary
Source: trusttoken

Sectors: Crypto, Exchange, Blockchain, Technology
From the Asia Corporate News Network

Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


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