Goldfinch Update #17
Goldfinch Update #17
Analysis, upcoming events, how off-chain lending brings stability to DeFi, jobs for friends, and more
🎙️Highlights of the week
Warbler Labs CIO Sam Eyob published an in-depth article on how Goldfinch is insulated from the volatility seen in most of crypto’s yields by bringing off-chain investment to DeFi. Read the overview.
Join Goldfinch and Variant next Thursday 6/23 at 11 AM PT / 2 PM ET for a Twitter Spaces with Jesse Walden, Derek Walkrush, Blake West, and Mike Sall, on unlocking a new paradigm for protocols via tokenomics and Goldfinch’s Tokenomics V2 proposal. Set a reminder here.
Gautam Ivatury of ALMA, a Goldfinch Borrower, joined Warbler Labs on Twitter Spaces to discuss the off-chain aspects of Goldfinch, how it maps to debt financing, and the stability of bringing lending to DeFi. Listen to the recording here.
Goldfinch community member Hong Fan created an analytics dashboard and article comparing Goldfinch against major terms used as a barometer in traditional credit markets. Read it here.
👀 From the Beak
How is Goldfinch weathering the storm? Warbler Labs CIO Sam Eyob published an in-depth article and Twitter thread overview analyzing how the yields on Goldfinch, generated from real-world lending, are insulated from on-chain DeFi volatility—due in part to connecting dependable stablecoins to real-world assets (RWA). You can read more about how this compares to other DeFi lending in the article, or in his Tweet thread.
In the same vein, Sam hosted a Twitter Spaces today on @goldfinch_fi with Gautam Ivatury of ALMA, a Goldfinch Borrower using innovative technology to provide creative debt financing to companies with a positive social impact. They discussed the off-chain aspects of Goldfinch, how using the protocol plays out in the real world, and the stability of bringing lending to DeFi. If you missed it, you can listen to the recording here.
Goldfinch community member Hong Fan created an analytics dashboard on Dune: Goldfinch Finance Credit Monitor, which analyzes Goldfinch through the lens of metrics used to evaluate traditional credit markets. He also published an accompanying article comparing Goldfinch against these major terms used as a barometer in traditional credit markets, including funding cost, leverage, and more, which you can read here.
📰 Goldfinch in the Media
Crypto news outlet The Defiant covered Goldfinch in their article and newsletter on the rise of credit protocols, covering how by “tackling credit, the cornerstone of traditional finance, these startups are trying to lay the foundation for a more robust DeFi marketplace when the cycle turns again.” Read more in the article.
Sherry Jiang, Co-Founder of Bluejay Finance, published an article and Tweet thread including Goldfinch in why Bluejay believes “RWA lending opens up a new multi-trillion dollar TAM, and stays true to finance’s primary purpose of directing capital to productive use cases.” Read the full thread here.
Messari noted GIP-13 in their Notable Messari Governor Updates recapping the week of 6/10. Their coverage notes how the proposal aims to approve the member rewards as phase 1 of Goldfinch's updated tokenomics—check out the update.
📅 Events
Upcoming:
Goldfinch x Variant
Thursday June 23rd at 11 AM PT / 2 PM ET on Twitter Spaces
Join Jesse Walden, General Partner at Variant, Derek Walkrush, Investment Research Partner at Variant, and Goldfinch and Warbler Labs Co-Founders Mike Sall and Blake West, to discuss tokenomics innovations, what they mean for the ecosystem and how they can unlock a new paradigm for protocols, and Goldfinch’s Tokenomics V2 proposal.
Set a reminder here, and read ahead of time about GIP-13 Tokenomics Update Phase 1: Membership Vaults.
🗳️ Governance Proposals & Protocol Updates
Any $GFI holder can make a Goldfinch Improvement Proposal (GIP) via the process here. Voting costs nothing and happens through Snapshot.
Open for discussion in the forum:
This GRC (“Goldfinch Request for Comment”) outlines a plan to evolve the role of GFI in the Goldfinch protocol over three distinct phases. The goals? To increase the utility of the GFI token, scale system security alongside decentralized governance, and increase protocol value in service of the Goldfinch vision.
The post outlines a three-phase plan to update Goldfinch’s tokenomics, and was published to facilitate community discussion around the long-term plan. ‘Phase 1: Introduce Goldfinch Membership’ is an open proposal for governance now (see below)
GIP-13 Tokenomics Update Phase 1: Membership Vaults
This proposal outlines a vision for the first phase of Goldfinch Tokenomics V2 development. It proposes a Goldfinch Membership system, whereby members can receive a share of protocol fees (“member rewards”) and greater voting power in governance by locking capital into a Membership Vault to support the protocol’s growth and security.
🎱 Senior Pool / Borrower Pool Updates
Current Senior Pool APY: 16.93% combined (7.96% USDC + 8.97% GFI)**
Get real-time updates when new Backer Pools launch, and news on upcoming Borrowers, here.
The Senior Pool is automatically diversified across different Borrower Pools. Backers can invest in specific Borrower Pools, and earn an additional share of rewards for their role doing so. Pools normally close for Backer deposits within a week. Learn more here.
📊 Stats
Defaults in the last 30 days: 0
Repayments in the last 30 days: ~$744K USD ($744,836.76)
Protocol Revenue in the last 30 days: ~$115K USD ($115,335.09)
Total Active Loans: ~$102M USD ($102,219,761.53)
See more data on Dune
❓FAQs
I know a lot of crypto builders who were laid off over the last few weeks. How can they work on building Goldfinch?
Warbler Labs, the core development team supporting Goldfinch’s growth, has many open positions! Roles include Business Development Lead, Senior Product Designer, Software Engineer, Developer Relations Lead, and many more.
Send your friends to https://jobs.lever.co/Goldfinch/
🧠 More Info
📚 Want to get started? Read our simple protocol guide.
☕ Book a slot to chat with Warbler Labs team members here.
💰 Want to deposit capital in the protocol, but would rather chat with a human face first? Fill our form here and our team will get back to you.
🛠️ Find job openings for different positions at Warbler Labs here. Come Buidl with us!
📗 Read our Borrower Profiles here, and view the protocol’s pipeline of upcoming Borrower Pools here.
🐦 Follow us on Twitter, join our Discord, and see the latest governance activity on Discourse.
**Disclaimer: All APYs on Goldfinch are dynamic, and these APYs are a snapshot from 06.17.2022. The Senior Pool APY changes based on the amount of capital in, and the utilization rate of, the Senior Pool.