# TruNEAR Token

### **What is TruNEAR?**

TruNEAR is the liquid staking receipt users receive when they deposit NEAR into the TruStake vault. It is a [Fungible Token (FT) standard (NEP-141)](https://docs.near.org/build/primitives/ft) and has all the same basic functionality, such as: mint, burn, etc.

As soon as you deposit NEAR on the TruStake smart contract, you receive newly minted TruNEAR, based on the exchange rate at the time of staking.

Similarly, when you request an unstake, the corresponding amount of TruNEAR is burned simultaneously.

### **What is the TruNEAR exchange rate and how does it change?**&#x20;

At launch, the TruNEAR / NEAR exchange rate is set to 1, i.e. the amount of NEAR per TruNEAR is 1.  As rewards accrue from staking, the exchange rate increases to reflect this. &#x20;

{% hint style="success" %}
For example, if you deposit 1000 NEAR with the exchange rate at 1.0, you will receive 1000 TruNEAR in return.  If you accrue 10 NEAR of rewards, the exchange rate will change to 1.01 to reflect that your 1000 TruNEAR is now redeemable for 1010 NEAR.

The share price is calculated net of all validator and vault fees.
{% endhint %}



### **Do I have to claim my Tru**NEAR **when I deposit?**&#x20;

No.  TruNEAR will automatically be sent to your wallet when you deposit NEAR in the TruStake vault. &#x20;

{% hint style="info" %}
You might need to import the token to see your TruNEAR balance in your wallet.
{% endhint %}

### **Where can I use Tru**NEA&#x52;**?**

We have worked on an extensive list of partnerships which will support TruNEAR on NEAR. The spectrum of partners will include DEXs, yield farming, lending/borrowing and more. The following list of partners are live or will go live over the coming week(s):

* TruNEAR Liquidity Pools on Ref Finance&#x20;
* TruNEAR lending + borrowing on Burrow&#x20;
* Many more to come!
