Truflation Founder Urges D.O.G.E. to Adopt Inflation Tracking Tools
Stefan Rust, founder of Truflation, issued an open letter to the Department of Government Efficiency (D.O.G.E.) on December 2. In this letter, Rust urged D.O.G.E. to adopt Truflation’s tools for tracking inflation and optimizing economic policies, aiming to enhance global financial transparency and efficiency.
Truflation's Global Impact and DOGE Proposal
Truflation began its journey in 2021 with a goal to transform inflation tracking. Their US inflation index is updated in real-time and tracks over 30 million price points from more than 80 sources, establishing Truflation as a reliable resource for economists and investors worldwide. Despite successful innovations, collaborations with US agencies like the Bureau of Labor Statistics (BLS) have not materialized. Rust emphasized that outsourcing BLS tasks to Truflation aligns with D.O.G.E.’s mission to streamline bureaucracy through technology.
Rust cited Truflation's collaboration with Argentina’s government, where it serves as an independent verifier of inflation metrics, promoting transparency and trust. He proposed a partnership with D.O.G.E. to leverage real-time economic indices for unlocking financial value, accelerating investment decisions, and optimizing central interest rate policies.
The letter serves as a testament to Truflation's capabilities, highlighting its decentralized database supported by 20 node operators and partnerships with universities for ongoing improvements.
A Community-Centric Migration
In response to internal challenges, Truflation has initiated a migration process for its TRUF token holders due to a recent attack on their multi-sig wallets. This migration aims to render stolen tokens unusable and protect the ecosystem.
“The snapshot of wallets ensures that all eligible tokens are accounted for,” Rust stated.
The migration process involves connecting a wallet on the Truflation site, verifying holdings, and executing the migration. Users are advised to avoid unofficial links to prevent scams. While staking rewards will be temporarily paused during the migration, Rust assured users that boosted rewards would follow to recognize loyal community members. He confirmed that no user funds were compromised during the attack and acknowledged the support of cybersecurity experts and law enforcement.