The Beak: Goldfinch Community Newsletter
You heard it straight from the beak (of the community)
Much like the rest of web3 and DeFi, it is hard to keep track of everything happening in the Goldfinch community. This newsletter will provide the rundown of the week’s highlights for the protocol, a pulse on the community, and news on DeFi in emerging markets. Enjoy our first edition!
🎙️Highlights of the week
👉🏽 The Warbler Labs team hosted their first community Town Hall on February 15th, 2022 with cohosts Mike Sall and Blake West (the initial contributors to Goldfinch)
🎱 Senior Pool / Borrower Pool Updates
Backer Pools are the more active, higher risk, higher return option for investing. These normally close within a week, or less.
Open Backer Pools: https://bit.ly/backer-pools
👉🏽 Almavest for $10M – the est. APY is 15% USDC
👉🏽 Stratos for $20M – the est. APY is 16.5% USDC
👉🏽 Cauris for $10M – the est. APY is 15% USDC
The Senior Pool is the simple, lower risk, lower return option.
👉🏽 Current Senior Pool APY: 4.68% on USDC (29.96% with GFI rewards)
📰 Goldfinch in the Media
Tweet of the week from @pesa_africa 🙏🏽
👉🏽 Warbler Labs hosted its first Town Hall for the Goldfinch Community with Mike Sall and Blake West! 193 listeners dialed in! Listen here.
👉🏽 Stay tuned for updates on a full calendar of AMAs.
🏛️ Governance Proposals & Protocol Updates
This proposal suggests Goldfinch take on incremental risk with the leverage ratio (https://docs.goldfinch.finance/goldfinch/protocol-mechanics/leveragemodel) which would result in higher APY’s for Backers (in addition to existing GFI rewards), and a higher utilization of the Senior Pool.
👉🏽 Status: This proposal is live on Snapshot until February 18, 12:30 PM. If the community passes, it will then be voted upon by the Council.
This proposal enables FIDU holders to use their FIDU to invest in junior tranches at the exchange rate without incurring penalties on GFI rewards and without paying withdrawal fees.
👉🏽 Status: The proposal is currently being discussed on Discourse.
This proposal pushes for the creation of a secondary market of FIDU and USDC which reduces the friction of entering and exiting the Goldfinch Senior Pool. This would result in more USDC staying in the pool.
👉🏽 The community voted on Snapshot with 73.37% in favour (51K GFI) and 26.63% against (19K GFI). There were 26 total voters.
👉🏽 The Council gave a soft approval on February 14th, 2022. The engineers are currently working on buidling this.
When will the community roadmap be released?
Warbler Labs co-founders Mike Sall and Blake West are currently working on a roadmap to propose to the community to consider.
Who can apply for loans from the Goldfinch protocol currently?
Right now, the borrowers are credit funds or early (Series B or beyond) FinTech companies with 1-3 years payback records.
What do I do if my verified ETH address was compromised?
Unfortunately, if someone’s MetaMask address was compromised or lost, information cannot be transferred over to a new address.
I’m interested in supplying $100k+ of capital to the Senior Pool or the Borrower Pools, but I would feel more comfortable chatting with one of the core contributors. How do I get in touch?
Please fill out this form and we will get back to you with more information.
👉🏽 44,985 Discord members
👉🏽 46,143 Twitter Followers
👉🏽 TVL: 87,467,481.38 USD on February 17, 2022
👉🏽 Total Active Loans: $38,188,057.59
👉🏽 See more data on Dune
🧠 More Info
📚 On the fence and want to get started? See our simple protocol guide.
🛠️ Find job openings for business, credit and engineering positions here. Come Buidl with us!