The Beak: Goldfinch Community Newsletter #2
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 Real World DeFi. Enjoy our second edition!
🎙️Highlights of the week
🗺️ Mike Sall & Blake West proposed the much awaited roadmap for the community.
💰 Goldfinch active loans grew 107% in one month having closed three Borrower Pools worth $41M (Almavest for $11M, Stratos for $20M, and Cauris for $10M).
🎱 Senior Pool / Borrower Pool Updates
The Senior Pool is the simple, lower risk, lower return option.
👉🏽 Current Senior Pool APY: 8.61% on USDC (29.66% with GFI rewards)
Backer Pools (or Borrower Pools) are the more active, higher risk, higher return option for investing. These normally close within a week or two.
🎉 This week, 3 Borrower Pools were funded:
💵 Almavest for $11.8M – the est. APY was 17% USDC
💵 Cauris for $10M – the est. APY was 17% USDC
💵 Stratos for $20M – the est. APY was 18.7% USDC
👉🏽 There are currently no Backer Pools open. Interested in participating in future pools? Stay tuned to the newsletter for more!
📰 Goldfinch in the Media
Tweet of the week from @MessariCrypto 🙏🏽
👉🏽 Upcoming: Sam Eyob, one of the initial contributors to the Goldfinch protocol, will discuss the challenges and opportunities around unlocking debt capital for the African market with The Africa Playbook. This will be on Wednesday, March 2nd at 10:00 AM PST/7:00 PM WAT. Set a reminder here.
🏛️ Governance Proposals & Protocol Updates
This is a meta-governance proposal, which will allow still locked tokens from the various airdrops to be used for voting on Snapshot. It also includes allowing the vested, but unclaimed tokens from FIDU staking to be used. Lastly, it asks for increasing the quorum by 2X (from 25K to 50K) on Snapshot to account for the increase in eligible GFI. This will allow the most strongly aligned members of the community to participate.
👉🏽 Status: The proposal has been up for discussion for a week. Participate here.
This is about the future of the Goldfinch protocol, as proposed by Blake West and Mike Sall. It is divided into three core areas– Engine (the core functionality of the protocol), Access (the ability and ease for people to use the protocol), and Community (the group of people building the protocol’s engine and access).
👉🏽 Status: This proposal is up for discussion. We highly encourage all parties interested in the future of Goldfinch to participate in the discussion.
This proposal suggests that Goldfinch allocates a separate retroactive reward % to the early Borrowers who participated in the protocol prior to the token launch. See full data calculations behind the proposed airdrop here. This proposal suggests a 0.857% retroactive airdrop for early Borrowers, vesting over 2 years. This is broken up into 2 “parts”. An “annual interest” based portion, and an “Early Partner” bonus.
👉🏽 Status: This proposal is up for discussion. Read more and participate here.
If I stake my USDC, will I be able to immediately claim GFI (tokens)?
Staking USDC in the Senior Pool will allow you to get GFI/tokens. However, GFI is typically locked and follows an unlocking schedule. Learn more here.
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.
👉🏽 44,762 Discord members
👉🏽 46,474 Twitter Followers
👉🏽 TVL (Total Value Locked): $90,210,976.51 USD on February 24, 2022
👉🏽 Total Active Loans: $68,795,324.89 on February 24, 2022
👉🏽 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!