[{"data":1,"prerenderedAt":353},["ShallowReactive",2],{"api/learn-center-post-en-what-is-truflation-truf":3,"footer-en":63,"learn/cryptocurrency-guide/what-is-truflation-truf-en-seo":261,"navigation-en-learn-center":266,"api/learn-categories-en":314},{"seo":4,"locale":28,"breadcrumbs":29,"excerpt":37,"featuredImage":38,"components":45,"title":5,"formattedPublishedAt":56,"geofencings":57,"category":58,"pagination":60,"campaignExternalId":8},{"title":5,"metaTitle":6,"metaDescription":7,"keywords":8,"metaRobots":8,"structuredData":9,"metaImage":10,"metaSocial":18,"canonicalURL":8,"localizations":19},"What is Truflation? (TRUF)","What is Truflation? (TRUF) - Cryptocurrency Guide","What is Truflation? How does TRUF work? Read our guide to the real-world data provider and start trading TRUF.",null,{},{"url":11,"mime":12,"ext":13,"width":14,"height":15,"name":16,"alt":17},"bitstampImageUrl/What_is_Truflation_TRUF_1png_32260d2fc2_554334ec3d.png","image/png",".png",744,381,"What_is_Truflation_TRUF_1png_32260d2fc2.png","",[],[20,23,26],{"pathname":21,"locale":22},"/en-gb/learn/cryptocurrency-guide/what-is-truflation-truf/","en-GB",{"pathname":24,"locale":25},"/es/learn/cryptocurrency-guide/what-is-truflation-truf/","es",{"pathname":27,"locale":28},"/learn/cryptocurrency-guide/what-is-truflation-truf/","en",[30,34],{"id":31,"text":32,"url":31,"asUrl":33},"/learn/cryptocurrency-guide/","Cryptocurrency guide",true,{"id":35,"text":5,"url":27,"asUrl":36},"what-is-truflation-truf",false,"\u003Cp>Truflation (TRUF) is a blockchain oracle project that was designed to provide accurate economic information about inflation of goods and services.\u003C/p>\n",{"url":39,"mime":40,"ext":41,"width":42,"height":43,"name":44,"alt":17},"bitstampImageUrl/What_is_Truflation_TRUF_svg_94b1add885_cdaf5eb473.svg","image/svg+xml",".svg",1676,858,"What_is_Truflation_TRUF_svg_94b1add885.svg",[46],{"component":47,"props":48,"content":49,"secondaryContent":53,"ctas":54,"secondaryCtas":55,"ctasNoMarginTop":36},"section.full-text",{"centered":36,"withoutSectionContainer":36},{"text":50,"width":51,"align":52},"\u003Cp>\u003Ca href=\"/learn/crypto-trading/what-is-inflation/\">Inflation\u003C/a> is the measure of how prices increase over time, reflecting how the public experiences a change in cost of living from year to year. Although a healthy amount of annual inflation is believed to help an economy grow—the United States Federal Reserve estimates this to be around 2%—high inflation can be detrimental to day-to-day life. For instance, imagine if the price of eggs increased by 30% or more in just one year.\u003C/p>\n\u003Cp>This is exactly what happened in the early 2020s, and it is why inflation came to the forefront of dinner table conversations, the news media, and the political arena. By mid-2022, inflation reached more than 9% in the US and more than 11% in the European Union, based on measurements by government bodies.\u003C/p>\n\u003Cp>The Consumer Price Index (CPI) is a popular measure of national inflation published by the US Bureau of Labor Statistics (BLS). Unfortunately, while it's clear that inflation is important, \u003Cem>calculating\u003C/em> inflation is difficult. The CPI has been criticized for being flawed and even outdated—it was developed in 1921—and many have called for updating available measures and more transparency in their calculation.\u003C/p>\n\u003Cp>Truflation is a project that uses \u003Ca href=\"/learn/blockchain/what-is-a-blockchain/\">blockchain\u003C/a> technology and a \u003Ca href=\"/learn/web3/what-are-decentralized-physical-infrastructure-networks-depin/\">DePIN\u003C/a> network (called the Truflation Stream Network, or TSN) to collate accurate, real-world economic data. While the CPI relies primarily on periodic surveys and visits to a selection of stores to confirm the prices  of certain goods, Truflation aims to use real-time, updated information provided electronically across a wide network of data providers.  The primary purpose of this is to use price data to better represent real (or “true”) inflation. However, the economic data Truflation collects can also be used in prediction markets, the creation of synthetic assets (like stablecoins), lending protocols, and more.\u003C/p>\n\u003Cp>The TRUF token is used by Truflation’s TSN for three purposes: 1) to pay for consumption of data, 2) as part of a voting escrow program to facilitate community governance, and 2) to allow nodes to participate on the network.\u003C/p>\n\u003Ch2>How was Truflation developed?\u003C/h2>\n\u003Cp>Truflation is developed by Tru Labs, led by founder and CEO Stefan Rust. A serial entrepreneur, Rust earned a degree at Northwestern’s Kellogg School of Management before beginning a long career in tech. He is an ex-CEO of bitcoin.com, and along with his position at Tru Labs, he holds simultaneous leadership positions in multiple related projects including Laguna Labs, its “flatcoin” product Nuon, and the staking solution Trusted Node.\u003C/p>\n\u003Cp>In May 2021, Coinbase CTO Balaji Srinivasan posted a challenge to the crypto community to build “a censorship-resistant inflation feed.” The Truflation team won the challenge, claiming a $200,000 prize. In the following years, it gained support from multiple crypto-based and venture capital sources including \u003Ca href=\"/learn/cryptocurrency-guide/what-is-chainlink-link/\">Chainlink\u003C/a> and Cogitent Ventures. In early 2024, the project raised $6 million through a Series A funding round.\u003C/p>\n\u003Cp>While Truflation only originally used the \u003Ca href=\"/learn/cryptocurrency-guide/what-is-ethereum-eth/\">Ethereum\u003C/a> mainnet, in May 2022 it used Chainlink’s interoperable network to launch nodes and smart contracts on \u003Ca href=\"/learn/cryptocurrency-guide/what-is-avalanche-avax/\">Avalanche\u003C/a>, \u003Ca href=\"/learn/cryptocurrency-guide/what-is-polygon-matic/\">Polygon\u003C/a>, and BNB Chain. Its expanding efforts continued a couple of months later, when it announced it would begin publishing a UK inflation index (in addition to its US index).\u003C/p>\n\u003Ch2>How does Truflation work?\u003C/h2>\n\u003Cp>At its most basic level, Truflation seeks to crowdsource economic data in order to create a reliable source of data for \u003Ca href=\"/learn/web3/what-is-decentralized-finance-defi/\">decentralized finance\u003C/a> (DeFi) products and third-party customers. It accomplishes this through its \u003Cstrong>Truflation Stream Network (TSN)\u003C/strong>. Truflation uses Chainlink’s \u003Ca href=\"/learn/blockchain/what-are-oracles/\">oracle\u003C/a> network to deliver economic data collected off-chain and deliver it to blockchain networks like Ethereum, Avalanche, and others.\u003C/p>\n\u003Cp>The TSN is a tailor-made blockchain that is specific to its application (also called an “app-chain”) that uses a network of \u003Ca href=\"/learn/crypto-101/what-are-bitcoin-blockchain-nodes/\">nodes\u003C/a> to reach consensus through a mechanism called \u003Ca href=\"/learn/blockchain/what-is-byzantine-fault-tolerance-bft/\">Byzantine Fault Tolerance\u003C/a>. This secures the network against malicious actors who may seek to submit falsified transactions or otherwise act selfishly. It has four main components:\u003C/p>\n\u003Cul>\n\u003Cli>\u003Cp>\u003Cstrong>Adapters\u003C/strong> – programs that operate on-chain like smart contracts who help process incoming data (from \u003Cstrong>data providers\u003C/strong>) so it can be appropriately stored and aggregated on the network. Adaptors publish an event log that is called the Events Context.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Events Context\u003C/strong> – the stored collection of data on the TSN. Events (data) are stored in chronological order, creating a reproducible framework.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Data streams\u003C/strong> – the primary form of TSN’s data output that creates a way for consumers to receive the up-to-date information stored and verified by the network’s nodes. Examples include US inflation and pricing data for digital assets.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Indexes\u003C/strong> – examples of aggregated data that the TSN can make available for consumers oncde internal processing and calculations are performed. For instance, in early 2024, Truflation announced it would be publishing its own version of a Big Mac Index including data starting in 2010.\u003C/p>\n\u003C/li>\n\u003C/ul>\n\u003Cp>Truflation’s initial goal was to create a more accurate, up-to-date measure of inflation (as compared with measures like the CPI). It published a 20-page explanation of its methodology for calculating US inflation using its data providers. Although much of the methodology matches the CPI, the weights of various aspects differ, and more than half of the calculation is reported to be from alternative sources.\u003C/p>\n\u003Ch2>How is the TRUF token used?\u003C/h2>\n\u003Cp>TRUF is an Ethereum-based \u003Ca href=\"/learn/crypto-101/what-is-erc20/\">ERC-20\u003C/a> token used for three primary purposes: fees, governance, and \u003Ca href=\"/learn/blockchain/what-is-staking/\">staking\u003C/a>. The latter two are closely related, which theoretically ensures that those with the most investment (financial and otherwise) in Truflation guide its development.\u003C/p>\n\u003Cul>\n\u003Cli>\u003Cp>\u003Cstrong>Fees\u003C/strong> – Data consumers pay the network to obtain the information they need, paid in TRUF.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Governance\u003C/strong> – TRUF holders can stake and lock their tokens for pre-determined amounts of time. In doing this, they are rewarded with veTRUF (voting escrow TRUF), which grants them voting rights. This model was pioneered by \u003Ca href=\"/learn/cryptocurrency-guide/what-is-curve-finance-crv/\">Curve\u003C/a>.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>\u003Cstrong>Staking\u003C/strong> – TSN node operators must stake TRUF tokens to participate in network activities such as data facilitation and provision, and this generates veTRUF they can use in governance.\u003C/p>\n\u003C/li>\n\u003C/ul>\n\u003Ch3>Tokenomics and token distribution\u003C/h3>\n\u003Cp>The maximum total supply of TRUF is 1 billion tokens. Most of these (60%) are reserved for the ecosystem and released slowly over the course of 8 years. The number of tokens released per month is set to decrease slightly over time, creating—intentionally, but perhaps also poetically—a disinflationary supply.\u003C/p>\n\u003Cp>The remaining TRUF has been allocated to investors (25%), the development team (13%), and advisors (2%) with vesting over the course of 2 years.\u003C/p>\n\u003Ch2>Conclusion\u003C/h2>\n\u003Cul>\n\u003Cli>\u003Cp>Truflation is a blockchain-based project that seeks to collect economic data from various sources in order to offer that data to on-chain services. Its primary goal has been to publish accurate inflation data.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>The Truflation Stream Network uses four components—Adapters, Events Context, Data Streams, and Indexes—to collate, process, aggregate, validate, and deliver economic data to DeFi platforms and other consumers.\u003C/p>\n\u003C/li>\n\u003Cli>\u003Cp>TRUF is an Ethereum-based token that is used to pay fees for data, reward Truflation’s nodes, and govern the network’s development through a voting escrow system.\u003C/p>\n\u003C/li>\n\u003C/ul>\n","full","left",{"text":17},[],[],"May 30th, 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Network","/lightning-network-node/",{},{},{"noFollow":36,"isExternal":36,"name":192,"value":193,"isEmail":36,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":194,"geofencings":195},"Market Details","/market-details/",{},{},{"title":197,"content":17,"items":198},"Address",[199,203,207,211],{"noFollow":36,"isExternal":36,"name":200,"value":17,"isEmail":36,"isPhoneNumber":36,"isText":33,"showOnDesktop":33,"showOnMobile":33,"attachment":201,"geofencings":202},"Bitstamp Ltd",{},{},{"noFollow":36,"isExternal":36,"name":204,"value":17,"isEmail":36,"isPhoneNumber":36,"isText":33,"showOnDesktop":33,"showOnMobile":33,"attachment":205,"geofencings":206},"5 New Street Square",{},{},{"noFollow":36,"isExternal":36,"name":208,"value":17,"isEmail":36,"isPhoneNumber":36,"isText":33,"showOnDesktop":33,"showOnMobile":33,"attachment":209,"geofencings":210},"London, EC4A 3TW",{},{},{"noFollow":36,"isExternal":36,"name":212,"value":17,"isEmail":36,"isPhoneNumber":36,"isText":33,"showOnDesktop":33,"showOnMobile":33,"attachment":213,"geofencings":214},"United Kingdom",{},{},{"title":216,"content":17,"items":217},"Contact",[218,223,227,231,235,239,244,249,254],{"noFollow":36,"isExternal":36,"name":219,"value":220,"isEmail":36,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":221,"geofencings":222},"Customer support","/customer-support/",{},{},{"noFollow":36,"isExternal":36,"name":224,"value":224,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":225,"geofencings":226},"info@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":228,"value":228,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":229,"geofencings":230},"press@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":232,"value":232,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":233,"geofencings":234},"support@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":236,"value":236,"isEmail":33,"isPhoneNumber":36,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":237,"geofencings":238},"complaints@bitstamp.net",{},{},{"noFollow":36,"isExternal":36,"name":240,"value":241,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":242,"geofencings":243},"+44 20 3868 9628","+442038689628",{},{},{"noFollow":36,"isExternal":36,"name":245,"value":246,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":247,"geofencings":248},"+1 800 712 5702","+18007125702",{},{},{"noFollow":36,"isExternal":36,"name":250,"value":251,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":252,"geofencings":253},"+352 20 88 10 96","+35220881096",{},{},{"noFollow":36,"isExternal":36,"name":255,"value":256,"isEmail":36,"isPhoneNumber":33,"isText":36,"showOnDesktop":33,"showOnMobile":33,"attachment":257,"geofencings":258},"+65 3105 1676","+6531051676",{},{},"\u003Cp>Please read the general \u003Ca href=\"/legal/risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Warning\u003C/a>, and \u003Ca href=\"/legal/uk-investment-risk-warning/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Risk Summary\u003C/a> for UK residents before investing in crypto-assets. \u003C/p>\n\u003Cp>Crypto-assets services are provided by the following Bitstamp legal entities depending on client residency: (1) Bitstamp Europe S.A., which is authorized by the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg as a payment institution (licence number Z00000012) and crypto-asset service provider (licence number N00000003); Registered address: 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg; Registration number: B196856; (2) Bitstamp UK Ltd., which is registered with the Financial Conduct Authority (FCA) in the UK for the provision of certain cryptoassets activities under the Money Laundering Regulations (Firm Reference Number 978690); Registered address: 5 New Street Square, EC4A 3TW London, United Kingdom; Registration number: 14174243; (3) Bitstamp Ltd.with its registered address at 5 New Street Square, EC4A 3TW London, United Kingdom and registration number: 8157033; (4) Bitstamp Global Ltd., which is registered as a Virtual Asset Service Provider in the British Virgin Islands and is supervised by the British Virgin Islands Financial Services Commission (FSC); Registered address: Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands; Registered number: 2086429; and (5) Bitstamp Asia Pte Ltd, which is authorized by the Monetary Authority of Singapore (MAS) as a major payment institution (licence number PS20200667); Registered address: 63 Chulia Street, OCBC Centre East, #15-01, Singapore 049514; Registered number: 202016687K;\u003C/p>\n\u003Cp>Virtual currency services to US residents are provided by Bitstamp USA, Inc., which is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Licensed as a Money Transmitter by the New York State Department of Financial Services. Review a \u003Ca href=\"/legal/usa-inc/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">list of its licenses and other registrations\u003C/a> (NMLS number \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">1905429\u003C/a>) for more information; Registered address: 85 Willow Road, Menlo Park, CA 94025, United States of America; Registered number: 5481543.\u003C/p>\n\u003Cp>Investment services with regards to trading in crypto derivatives are provided by Bitstamp Financial Services Ltd., which is authorized and supervised by the Slovenian Securities Market Agency (ATVP) as a MiFiD investment firm. Trading crypto derivatives carries significant risks and may result in substantial losses. Please trade responsibly and ensure you understand the associated risks. You can find more about the risks \u003Ca href=\"/legal/financial-services/general-terms-and-conditions/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>. To help you understand the risks involved we have put together a series of \u003Ca href=\"/derivatives/key-information-documents/\" target=\"_blank\" rel=\"noopener noreferrer\">Key Information Documents (KIDs)\u003C/a> highlighting the risks and rewards related to each derivatives contract. Crypto derivatives trading is not available to customers in the US, Canada, Japan and some other countries. Bitstamp Financial Services Ltd. does not provide crypto-asset services.\u003C/p>\n\u003Cp>To find out more about which Bitstamp entity you receive services from, please check the Profile/My information in your Bitstamp account. You can read more about our legal terms, policies and disclosures \u003Ca href=\"/legal/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">here\u003C/a>.\u003C/p>\n","\u003Cp>All rights reserved © 2026 Bitstamp by Robinhood. \u003Ca href=\"https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1905429\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">NMLS #1905429\u003C/a>\u003C/p>\n",{"description":7,"ogDescription":7,"ogImage":262,"twitterImage":262,"twitterSite":263,"twitterCreator":263,"twitterCard":264,"twitterTitle":6,"twitterDescription":7,"titleTemplate":265},"https://assets.bitstamp.net/msc/_ipx/enlarge_true&f_png&fit_cover&q_85&s_1200x630/bitstampImageUrl/What_is_Truflation_TRUF_1png_32260d2fc2_554334ec3d.png","@Bitstamp","summary_large_image","%s",{"items":267,"ready":33,"platformButtonText":310,"backButtonText":311,"logInButtonText":312,"signUpButtonText":313},[268,272,276,279,282,285,288,293,296,301,306],{"headerName":269,"sidemenuName":140,"url":141,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":270,"submenu":271,"tag":17},"Institutions",{},[],{"headerName":132,"sidemenuName":132,"url":133,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":273,"submenu":274,"tag":275},{},[],"NEW",{"headerName":155,"sidemenuName":155,"url":156,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":277,"submenu":278,"tag":17},{},[],{"headerName":112,"sidemenuName":112,"url":113,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":280,"submenu":281,"tag":17},{},[],{"headerName":122,"sidemenuName":122,"url":123,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":283,"submenu":284,"tag":17},{},[],{"headerName":127,"sidemenuName":127,"url":128,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":286,"submenu":287,"tag":17},{"geofencing-uk":33},[],{"headerName":289,"sidemenuName":289,"url":290,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":291,"submenu":292,"tag":17},"Markets","/markets/",{},[],{"headerName":117,"sidemenuName":117,"url":118,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":294,"submenu":295,"tag":17},{},[],{"headerName":297,"sidemenuName":297,"url":298,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":299,"submenu":300,"tag":17},"Blog","https://blog.bitstamp.net/",{},[],{"headerName":302,"sidemenuName":302,"url":303,"noFollow":36,"showInHeader":33,"showInSidemenu":33,"geofencings":304,"submenu":305,"tag":17},"Learn","/learn/",{},[],{"headerName":307,"sidemenuName":307,"url":113,"noFollow":36,"showInHeader":36,"showInSidemenu":33,"geofencings":308,"submenu":309,"tag":17},"Get Bitstamp by Robinhood app",{},[],"Go to platform","Back","Log in","Get started",[315,319,323,327,331,335,337,341,345,349],{"title":316,"url":317,"geofencings":318},"Blockchain technology","/learn/blockchain/",{},{"title":320,"url":321,"geofencings":322},"Company profiles","/learn/company-profiles/",{},{"title":324,"url":325,"geofencings":326},"Crypto 101","/learn/crypto-101/",{},{"title":328,"url":329,"geofencings":330},"Crypto definitions","/learn/crypto-definitions/",{},{"title":332,"url":333,"geofencings":334},"Crypto trading","/learn/crypto-trading/",{},{"title":32,"url":31,"geofencings":336},{"geofencing-uk":33},{"title":338,"url":339,"geofencings":340},"People profiles","/learn/people-profiles/",{},{"title":342,"url":343,"geofencings":344},"Security","/learn/security/",{},{"title":346,"url":347,"geofencings":348},"Tutorials","/learn/bitstamp-tutorials/",{},{"title":350,"url":351,"geofencings":352},"Web3","/learn/web3/",{},1776263732242]