Thoughts and suggestions on improving transparency

[Don]

It is an honor to be able to participate in the governance work. Since Kelvin Sparks joined the team, I am willing to share my ideas and suggestions with the team and get listened to and responded to. In addition, since Sebdavies became a member of the DAO, TrueFi’s transparency governance has become better.
Originally I wanted to discuss this topic in the group, but I think it is necessary to move it to the forum.
Recently, I have seen comments in groups, forums or on X, and found that many investors, including myself, do not know the progress of the project well.
I know that the team provides us with quarterly reports and space calls to improve transparency. Maybe holders and team have a different standpoint, or some investors’ English level is as poor as mine, so they cannot get a clear understanding of the project progress.

For example, in the sixth point of TrueFi DAO 2025 Report, A Clear Roadmap for 2025. There are three goals for Q1, including Launch of Polaris (now is Elara) MVP – Introducing a yield-bearing stablecoin to enhance liquidity and capital efficiency. Now it is Q3, has this goal been achieved? If the goal is achieved, where can we see Elara MVP? If the goal is not achieved, but it is in progress, can the report mention the reasons for the failure to achieve the goal, how to remedy it and when it is planned to be achieved.
'Cross-chain deployments on Base & Lumia – Expanding TrueFi’s reach across multiple blockchain ecosystems. ’ Has this goal been achieved? If so, where can we see that the goal has been achieved and what benefits and help will completing this goal bring to the development of TrueFi?
Because of different positions and professionalism, you may think that you have explained it in reports or space calls, but as non-professionals, we need to have actual vision and understanding.Therefore, effective guidance can get better answers and eliminate misunderstandings.
I don’t know if there are any investors who are front-end designers. If there are, I hope this investor can come out and speak, whether UI/UX design work is very complicated and difficult. Because in my eyes, UI/UX design work is not complicated and difficult, but this work has become a mess on TrueFi. UI/UX is one of Akemona’s work contents in TFIP-21, but they were paid but could not bring us actual outcomes, so Flod was needed to complete it later, and now we need to find a designer to complete it in Q4. In your report and Space calls, you mentioned that Akemona has done an excellent job during their tenure, but in our eyes, Akemona is like a scammer. This may be a big misunderstanding, but in fact, we cannot see the completion of TFIP-21 from the report. Maybe they have completed it, but we don’t know how to see their work results. Just like UI/UX Improvement and Website Improvements, these two are the most intuitive work performances, but until now we have not been able to see the results for various reasons. Another thing is Truemarket, which is also one of the work contents of TFIP-21. It is hard for me to imagine that even TRUHOLDER did not know that this project had been abandoned. Many investors even thought that the funds of TFIP-21 were allocated to Akemona to suggest Truemarket. Last year, we kept asking about the progress of Truemarket in the group, but the community management at that time made us wait. What we got in return was a brand new roadmap, Elara replacing Truemarket. We don’t think that it is a bad thing for Elara to replace Truemarket, and we are still looking forward to the performance of Elara on the line. But during this period of change, the community did not explain to us that Truemarket had been abandoned and the reasons for abandonment, which led many investors like TRUHOLDER to think that TrueFi would launch Truemarket and Elara this year to detonate the market. In fact, in my opinion, the two products of Truemarket and Elara do not affect each other, because Elara was invested and incubated by TrueFi in the early stage, and operated by an independent team after it was launched. But Truemarket is a Truefi project and is operated by the TrueFi team.

Thoughts and suggestions
As cp0x mentioned, the KPI completion status of TFIP-23 should be added to the content of TFIP-28 so that holders can make better desicions on TFIP-28 expense request .

Click the link here to check the roadmap in Q2, please!

TrueFi Product/Engineering

1.Continue to expand TrueFi offerings on new ecosystems and DeFi integrations
KPI: 3 bluechip DeFi Dex integrations for tfBills and vault aggregator integrations for Lending Pools
Timeline: Q2
Status:Delivered/In progress/On hold
Feedback: If deliveried, which are the 3 bluechip DeFi Dex integrations. Where can we see them? If in progress, why delay and when can we see them?

2.TrueFI Core Product Overhaul
UI/UX Overhaul
KPI: UI/UX modifications deployed to production
Timeline: Mid Q2
Status：
Feedback:

3.Tighter Adapter tfBill integration
KPI: As part of UI/UX integrations mint and redeem for tfBills prominently displayed on the homepage
Timeline: Mid Q2
Status：
Feedback:

4.Grow community Engagement and marketing impact through data-driven strategies
KPI: 1 long form monthly blogpost and increase engagement on X by 25% (Likes, Comments, and Reposts)
Timeline: End of Q2
Status：
Feedback:Where is the long monthly blogpost?

5.Support and improve existing TrueFi Integrations/Partnerships (E.g., Plume, Lumia, Ethereum, etc.)
KPI: Plume Nest Integration full deployment, Lumia TrueFi deployment
Timeline: Q3
Status：
Feedback:

6.Expand TVL on Lending Pools and tfBills
Through BD efforts and Polaris will be feeding TVL into both
KPI: $50 million TVL
Timeline: End of Q3
Status：
Feedback:

Polaris
Successful spin-out and launch of Polaris

1.Polaris fundraise and spinout
KPI: Successful VC Fundraise of goal amount and Entity Seperation
Timeline: Early Q2
Status：
Feedback:

2.Polaris Security Audits
KPI: Multiple Successful Security Audits of Polaris Codebase
Timeline: Mid/Late Q2
Status：
Feedback:

3.Polaris Launch
KPI: Mainnet dApp and Smart Contract deployment
Timeline: Late Q2/Early Q3
Status：
Feedback:

4.Polaris Cross-Chain Deployment Launch
KPI: Polaris Spoke Deployment on Tron
Timeline: Q3
Status：
Feedback:

Do you remember the timeline of Polaris Launch? That’s why anggari angg ask in the TG group.

I think these KPIs should tell us what the status is. If it is completed, please tell us how to view the results. If it is not completed (In progress), you should tell us why it is not completed, as well as the remedy and the estimated time to postpone it.

The current situation of TrueFi is that the reports, roadmaps, and KPIs given to us are all very perfect, but in fact we have been waiting, but we cannot see the KPIs or do not know how to check the completion results of the KPIs. In addition, I see that there seems to be no punishment measures for not meeting the KPIs, so that the money is paid, but the results are not delivered.

No matter whether it is a cooperative partner or team, the progress is reported to the DAO instead of being publicly informed to us investors. Therefore, as a DAO, we should do a good job of project follow-up and supervision.

I don’t know if DAO members hold TRU or how much TRU they hold. But I think if you are really a Tru holder, you should be very anxious and focused on project construction. Some of my words may be very rude. I followed the private X handles of some team members. I know that it is your freedom to post what content on private X. But I don’t know what the construction of Bearchain is related to the construction of TrueFi. If there is no connection, I sincerely hope that if you are now 100% focused on the construction of berachain, can you devote 50% of your focus to the construction of TrueFi and Elara?

[TRUHOLDER]

Hello everyone, I would like to briefly respond as my name was mentioned.

I am aware that the True Market project has been discontinued and that the team has shifted focus to a new direction. However, due to the frequent changes in the roadmap and objectives, I prefer not to make public statements through my personal accounts. These shifts often lead to questions and concerns regarding the perceived lack of success in the project’s execution.

Many community members frequently reach out to me for information about TrueFi. I make every effort to direct these individuals to official sources, such as the forum and the Telegram group. That said, I must admit I am growing weary of answering the seemingly endless question: “Who is the CEO of TrueFi?”

I would like to clarify that this is not a complaint. I remain committed to supporting the community and doing my best to respond to inquiries accurately and respectfully.

As Don has mentioned, the involvement and focus of certain board and DAO members on Bera Chain is also something I find noteworthy and worthy of transparency. I trust that a sincere and clear explanation will be provided in due course.

I appreciate the efforts of the TrueFi team and continue to offer my support. I firmly believe that we will see much more promising developments in the near future.

[Jamm]

This is all very concerning! Can the truefi team pls give us some clarification on everything mentioned. Also the board members too. It would be nice to here from all board members and their thoughts about past goals that clearly wasn’t meant and what moving foward we should be looking forward too and what their personally most excited about with truefi and its new team as i believe they get paid to be a board member. Pls correct me if i was wrong. But if so that’s not asking for much from the board members. Honesty is everything and i personally believe that was lost in the past. But i do feel like theirs hope. I’m Looking forward too what’s ahead. I believe truefi can be a big part of finance with Elara when that’s in motion. But without Elara y’all have no product’s that’s exciting for institutions. If thers was they would be here already. Some more clarification will be very helpful. Thank you for everyone’s time who took the time to read this. And thank you too truefi New team which we all will be very grateful to learn all more about and what their personal hand in with being a truefi team member and the products their building. Just like the board memders. There’s not much of a truefi team in head count. So it wouldn’t be hard to get more info on what’s their exact role is. Thanks again for your time.

[Don]

Hello, TRUHOLDER. It is my honor to be able to participate in community governance with you here and in the TG group. I know you are aware that Truemarket has been discontinued, because in your post on May 9, ‘Request for Information on Canceled and Upcoming Projects’, I gave you a reply and a screenshot of the conversation record. But what if you didn’t ask or I didn’t answer you? Can you imagine that you knew the truth? Even in the roadmap and report, there was no news that Truemarket was discontinued. So I mentioned that all the reports we saw were perfect, but in such perfect reports, we could not see the promises and finished products being launched as scheduled, nor even explanations for the various delays.
You may have noticed that in fact, many Chinese KOLs recommended $TRU from December last year to January this year. Everyone knew that Truemarket would be launched according to the time point of the roadmap, so they all said that the price of $TRU would rise because there would be good news. At that time, many people still bought $TRU and were waiting. But what came out of the waiting was that the roadmap had changed, and there was no explanation for the situation of Truemarket. People started to get disappointed with Truefi, and you can see only a few people recommending or mentioning $TRU on X now.
Each time I mention Akemona, I feel annoying. Why do I always target Akemona? Maybe everyone thinks that it doesn’t matter how much money is given to Akemona. But if you pay attention to the situation on the chain, you may understand me. Every month Akemona receives a lot of $TRU and immediately transfers it to Coinbase Pro for sale. I personally think that it is difficult for the price of $TRU to rise, and the selling of partners is also related. Due to the lack of good news, there are already few investors buying $TRU in the market, coupled with a large number of sell-offs, resulting in us often seeing the price of $TRU dump harder, but hard to rebound.If Akemona brings us good achievements, I think these expenses are worth it, but in fact we haven’t seen anything from them. I never question Kelvin’s income, because I think Kelvin’s contribution to the team is reasonable.Fortunately, TrueFi has changed its strategy and no longer relies on a third party for construction. Otherwise, more $TRU would be sold on the market, and the same money would be given but no achievements would be seen.
You can click the following link to check the Akemona got and sold on the chain.

Ethereum Address 0x8fcf...a9e63d | Blockchain Explorer | OKLink

The guy you mentioned, “Who is the CEO of TrueFi?", maybe you think he is annoying, maybe you think he is fool. But if you understand why he asked this question, you may have a different thoughts. Sunny is also a TRU holder, and has held it for nearly 4 years. In these 4 years, he has been waiting for good news from the team and good projects to drive up the token price. Although he often complains about the price, he also knows that the price is determined by the market, and the market needs the team to announce good news. But the 4-year wait has made him disappointed with TrueFi.
In fact, who is the CEO means who is the leader of TrueFi. A good leader can lead the project to better development. Like Musk leading Tesla forward, like Jack Ma created a successful Alibaba. There seems to be no such leader on TrueFi, which is why some investors think you are the leader of TrueFi. To build a successful project, you can’t do without a leader’s decision-making and lead the team to work day and night. In my eyes, TrueFi not only does not have a real leader, but the team members are basically part-time, which may also explain why the project is always ineffective or always delayed. At the same time, I also asked a question in the post, how many team members and DAO members are Tru holders, if so, how many $TRU tokens do they hold? Of course, this is privacy and does not need to be answered, but I think if the team members are Tru holders, they should work harder to build and strive to launch good news to drive the price of the currency. If the team members are not only not Tru holders, it just explains why the team doesn’t care much about the progress of the project.A real Tru holder, like you, will always pay attention to the project progress, provide opinions, and recommend TrueFi on X. But many team members’ private Xs are recommending Bearchain. Of course, this is free, and we don’t know whether the construction of Bearchain will have any connection with TrueFi. If the construction of Bearchain can also increase the TVL of TrueFi, we are very supportive, and I will apologize for my stupid misunderstanding. But if Bearchain has nothing to do with TrueFi, I hope the team can give half of the construction focus to TrueFi. If the construction of TrueFi is as active as the construction of Bearchain, I believe TrueFi is now a successful project.