DWF Labs as MM for TRU

Proposals
1

Introduction
Trufi as Defi’s first and largest credit protocol has done ground-breaking work in Defi space. Its native token TRU is listed on various Tier1/2 CEXs with both spot and perp market. Despite doubts hovering over certain CEXs, we still believe maintaining a healthy orderbook and strong liquidity is critical for the TRU token over the long run.

In light of this, DWF Labs proposes a strategic partnership that leverages DWF Labs’ expertise in market making, liquidity provision, and ecosystem support to enhance TRU token liquidity and Truefi’s market presence.

DWF Labs’ Background
DWF Labs boasts a portfolio of over 700 companies, serving as the market maker for more than 25% of the top 100 companies ranked by CMC and 44% of those within the top 1000. We want to partner with the most visionary entrepreneurs with our goal in assisting all trading related matters while providing a high-touch, dedicated partnership-centric relationship.

Originating In 2018 as a proprietary high-frequency trading (HFT) firm in Switzerland, DWF was founded by a team of ETH graduates from Zurich and experienced quantitative traders from IMC; leveraging AI, machine learning, and advanced mathematical techniques in the design and implementation of its HFT strategies.

In 2022, following comprehensive market analysis and opportunity assessment, the company initiated the establishment of DWF Labs. DWF Labs engages in venture investments, secondary market transactions, Over-the-Counter (OTC) activities, and market-making services. DWF Labs’ rapid expansion has positioned the company as a leading entity in trading across spot, perpetuals, and options markets, spanning over 60 reputable centralised and decentralised trading venues.

Beyond these, the firm actively supports the crypto industry by contributing TVL, operating validators across numerous protocols, KOL marketing network, technical testing, smart-contract audit services and fostering the overall growth of its portfolio companies.

Today, DWF Labs’ portfolio is incorporated and tracked by leading crypto sources CoinMarketCap and CoinGecko, in response to the public interest in activities undertaken by DWF Labs and its partners – a testament to the firm’s success and influence.

Value proposition and differentiating factors
DWF Labs excels in dynamic prop trading, employing varied strategies in both CeFi and DeFi, including liquidity provisioning in DEXs and CEXs, cross-venue arbitrage, and HFT. We can enhance liquidity for TRU in both spot and perp markets.

Both DWF Labs and our venture arm oversee a broad portfolio that includes DeFi, gaming/NFTs, infrastructure, consumer applications, and RWAs, which Truefi can tap into to enhance its market presence.

DWF Labs is also a multi-stage investment firm which can potentially provide funding when Truefi team needs in the future.

Instead of asking for both TRU and stable coins, we only ask to borrow TRU tokens and provide stable coins with our own capital, which is more capital efficient for Truefi.

With a loan and call option model, it ensures that both DWF Labs and Truefi team interests are aligned. Also, it offers Truefi team opportunities to sell TRU tokens to DWF Labs at significantly higher than current spot price in the future with no market impact.

Proposal
Utilising DWF Labs’ market-making expertise, DWF Labs aims to increase the liquidity of TRU across multiple exchanges on different CEXs it is listed on (excluding those serving American users).

  • Token loan amount: 7,500,000 TRU tokens

  • Tenure: 24 months

  • Yield: DWF Labs will be providing a 3% annualised interest payable every 4 weeks with stable coins (USDC/USDT)

  • MM Objectives:

  • Bid ask spread: 35 bps
  • Depth +/- 2%: Binance 50k USD, Gate/Kucoin 30k USD
  • Trading volume market share: 7.5%
  • SLA: 24/365 95%
  • European Call options: there are five call options and each gives DWF Labs the right (not obligation) to purchase 20% of loaned tokens (total 7,500,000 TRU) at the end of 24 months at following strike prices:

  • Call Option 1: DWF Labs has the right to purchase 20% of loaned tokens (1,500,000 TRU) at strike price 1, which has 20% premium to the spot price of the time when DWF Labs receives token loan

  • Call Option 2:DWF Labs has the right to purchase 20% of loaned tokens (1,500,000 TRU) at strike price 2, which has 35% premium to the spot price of the time when DWF Labs receives token loan

  • Call Option 3:DWF Labs has the right to purchase 20% of loaned tokens (1,500,000 TRU) at strike price 3, which has 50% premium to the spot price of the time when DWF Labs receives token loan

  • Call Option 4:DWF Labs has the right to purchase 20% of loaned tokens (1,500,000 TRU) at strike price 4 - which has 150% premium to the spot price of the time when DWF Labs receives token loan

  • Call Option 5:DWF Labs has the right to purchase 20% of loaned tokens (1,500,000 TRU) at strike price 5 - which has 200% premium to the spot price of the time when DWF Labs receives token loan

4 Likes
3

With healthy volumes and a reasonable depth on bid offer spreads across exchanges: why even need a market maker?

Further, what KPIs as far as access to this broad portfolio protocols etc would you propose?

There is a lot of economic value that is given up for Truefi to be underwriting options for zero cost for a service with vague results.

image
image2616×734 115 KB

4 Likes
5

It is very good to have a professional market maker to provide liquidity and funding for TRU, which helps the development of the project, and if you are a token owner, you must support it, which can bring you better returns

2 Likes
7

Appreciate the effort of moving it to Tally, but the proposal you put up does not actually have executable code included in it so nothing will happen if the Tally is approved

3 Likes
8

Thanks for the reminder! We’ll update here with new link, thanks!

1 Like
9

Hi team, we’ve moved it to Tally with executable codes, here is new link:

Voting starts in 2 days, will remind here again, thanks!

2 Likes
10

Price action suggests the market sees this as a positive.
This proposal looks ok for 24months. Does DWF provide regular updates on uptime here?

1 Like
11

Yes, we’ll provide monthly report and assign dedicated ecosystem support manager to do monthly catch-up call so we can always provide the service that Truefi needs.

3 Likes
12

Hey @DWFLabs, thanks for the proposal. As the vote of the Tally execution is purely onchain, as per the Foundation’s compliance policy, we’ll need DWF Labs to complete the onboarding process before this vote passes.

Can someone from the team contact one of the Foundation Directors (@GaugeIT on Telegram would work) privately please?

1 Like
13

:bulb:I recommend a 4 digit pin from you @vandynathan to be sent privately to @DWFLabs to share with GaugeIT on Telegram to ensure @GaugeIT is connected to the legitimate person👍

2 Likes
14

it seems we can’t connect with @GaugelT on TG, could you pls reach out to our global head of BD @Couragejll on TG? She will help facilitate the onboaridng process.

2 Likes
15

I just connected them

4 Likes
16

Hi team,

Just a quick reminder that voting has started today, here is the link: Tally | TrueFi | DWF Labs as MM for TRU [Updated proposal with actions]

Thanks!

1 Like
17

IMG_4045
IMG_40451179×1175 153 KB

https://verify.dwf-labs.com verifies @Couragejll’s handle.

2 Likes
18

Hi Truefi community:

Gentle reminder that voting is ending in 18 hours, appreciate all of your participation!

Thanks,

3 Likes
19

Congratulations on the proposal’s success!

Can anyone queue the proposal and execute it? DWF Labs will deal with the rest to make TRU a token that other RWA projects be jealous of.

3 Likes
20

Congratulations @DWFLabs!

4 Likes
21

Hi @DWFLabs,

Could you please confirm a specific date each month when you will provide updates, considering that the proposal execution date was on July 11th?

Additionally, could you introduce your dedicated ecosystem support manager to the forum?

Cheers!

4 Likes
22

Thank you for your efforts and collaboration. We kindly request that you share the cooperation and interoperability aimed at ensuring the community is transparently informed through your official X (Twitter) account.
:handshake::pray:

1 Like
23

@TRUHOLDER , I have a suggestion for you.

It might be a good idea to introduce yourself and your X account in a newly created forum topic.

By doing so, you can invite service providers to engage with your goals by directing them to your TRUHOLDER subject from that topic.

Additionally, you can ask service providers to publish updates on X, allowing you to repost them on your account to help amplify their message.

It will also help you keep track of your conversations

Food for thought :+1:

1 Like