Grapefruit Trading Credit Limit Increase

Grapefruit Trading would like to increase our credit limit to $10M. We have repaid our first $1m loan and have our $3m loan ending on the 20th. Once we repay the $3m, we would likely borrow up to our credit limit.

Nothing material has changed with our desk since our original borrow request.

Since we onboarded, Grapefruit has tried to be an active participant in TrueFi by participating in the forum, governance, and loans. Our proposal to extend the max term limit to 90-days was successfully implemented last week.


I’d want to see an increase in the average rate as well. I am going to post the same thing on Wintermute’s thread as I don’t think 10mm at 11ish is the best use of funds.

Going off some recent threads:

Folkvang upped theres from 11-something to 13.1% Folkvang borrow request

Bastion came in at 14.5% w/ some explanation Bastion Trading Group Borrowing Request

Interest rate proposal: our proposal reflects a rate we believe is competitive to other unsecured lending protocols such as Celsius (average of in-kind rate and in CEL reward rate is about 14.52%.) Further, we believe in current market conditions a material spread such as +3% to +5% should be paid over say Curve Y pool. With the current Y pool paying an annualized 10% APY (without the CRV reward), we figure that a 14.5% rate would be reasonable using both metrics.

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We are willing to increase the borrow rate to something that is market competitive. I want to note that a 12% loan for 30-days in the current system is actually a 15% loan because of the origination costs (25 bps). So while the UI shows numbers lower than that, we use the borrow rate plus origination fee as the real borrow rate.

@Getty On another marketing note, as grow our relationship would your firm be able to endorse our platform and our $TRU coin on your 1)Twitter account and other Social Media 2) issue a joint press release. Are there any other ways you might be able to help our marketing/business development efforts or help drive more price activity/volume for our $TRU coin? Thanks guys

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All of the above.

Grapefruit has already tweeted about TrueFi before, and I’ve talked with the team about doing some additional marketing work. I think most importantly, we are participants in governance, both by voting and proposing changes.


awesome, looking forward to seeing more marketing, and helping with your efforts as well