Goldfinch Update #23
Why crypto will replace the existing financial system, plus exploring DeFi lending in SEA
🎙️Highlights of the week
In case you missed it, vesting was removed to make FIDU liquidity mining rewards instantly available for current and new LPs. Learn more in the announcement.
Goldfinch Co-Founder and Warbler Labs CTO Blake West covered why he believes that the blockchain is an essential factor in expanding and innovating real-world lending—read about it here.
Two community governance proposals, GIP-14 and GIP-15, passed community governance voting this week with 100% support. Read on for details about those and other active proposals, along with upcoming events and more.
👀 From the Beak
Goldfinch Co-Founder and Warbler Labs CTO Blake West published a thread covering why he believes that the blockchain is an essential factor for expanding and innovating real-world lending.
The thread covers three primary arguments for why bringing real-world lending to DeFi is a successful model:
Crypto networks collectively improve upon traditional finance through better access and liquidity
Access improves as crypto networks create a “common denominator” rather than fractured systems across countries
Crypto’s core interoperability and permissionless innovation brings huge benefits
Learn about the reasons why in Blake’s thread.
Bringing RWA lending to Southeast Asia
Warbler Labs Senior Credit Manager Aaron Collett joined Bluejay Finance, a protocol for multi-currency stablecoins, for a Twitter spaces covering how real-world asset lending on DeFi can be applied to opportunities in Southeast Asia. Listen to the recording here.
📰 Goldfinch in the Media
We get it, it’s exhausting to always have to explain DeFi’s real-world use cases to your off-chain friends. Now you can just share the thread from investing app Burst, on how Goldfinch turns this paradigm on its head by providing crypto loans to real businesses—and why Burst thinks Goldfinch is fixing the two biggest issues in traditional borrowing and lending. Read more here.
Exploring a multi-trillion dollar opportunity
DeFi and DAO researcher Crypto Kailash published an analysis piece on the reasons why they see a “multi-trillion opportunity to connect Real-World Assets (RWA) and traditional finance to DeFi. Much bigger than all the crypto market cap of ~ $ 1 trillion.” The Tweet thread and in-depth article explore Goldfinch, MakerDAO, Centrifuge, and Aave, and the protocols’ different approaches to bringing off-chain finance to DeFi. Read the article to learn why Crypto Kailash says “Goldfinch has been experiencing exponential growth.”
Hơn $100M đã được cung cấp tới TradFi qua tín dụng
Vietnamese researcher Hak Research published a Tweet thread and article in Vietnamese covering Goldfinch, why they think it bringing real-world lending to DeFi is a promising area for crypto, and why they believe in the project. Later in the week, their partner site Hak Insights published an English-language version of the thread. Read their coverage here.
Covering Goldfinch at DefiCon
August 11-12, Brooklyn NYC
Warbler Labs Senior Credit Manager Aaron Collett will be speaking about Goldfinch at this year’s DeFiCon NYC.
DeFiCon is a nonprofit conference with a mission to elevate the ethos of peer-to-peer crypto. You can buy tickets here, and be sure to come say hello if you’re attending!
Goldfinch x Celo
Week of August 8th
Join Celo, Goldfinch, MercyCorps, and other friends for a Twitter Spaces covering a special announcement.
Mark your calendar and stay tuned on @goldfinch_fi…
🗳️ Governance Proposals & Protocol Updates
Summary: For the Goldfinch community to allocate 4,000 USDC from the Goldfinch Treasury to run a pilot of the Credit Analysis Grant, and compensate community members to write two Credit Analysis Memos for each of the next two Borrower Pools.
View the proposal here to catch up on the conversation.
Summary: In order to give Backers an opportunity to exit their positions in Borrower Pools prior to the end of the lock-up period, this proposes the creation of a secondary marketplace that enables Backers to sell their Borrower Pool positions.
View the proposal here to catch up on the conversation.
Community proposals for discussion:
Summary: Participants of the protocol sign a Non-Disclosure Agreement (NDA) and have access to a Borrower’s data room. A community of Backers proposes that Borrowers open a new folder in the data room named “Remittance Reports” and upload an updated report every month. The proposal requests that the report’s publication be announced through verified/token-gated channels to ensure that backers and FIDU holders are notified.
Motivation: The proposal aims to provide the beginnings of a standardized framework for Credit Fund Borrowers to provide more transparent reporting for various Investors on the Goldfinch platform. It asks credit funds to deliver credit reports monthly at the “Borrower Level” and “Investor Level” as defined in the proposal, separate from any additional compliance requirements.
View the proposal here to join the conversation.
🎱 Senior Pool / Borrower Pool Updates
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.
Defaults in the last 30 days: 0
Repayments in the last 30 days: ~$2.8M USD ($2,821,768.24)
Protocol Revenue in the last 30 days: ~$110K USD ($110,283.35)
Total Active Loans: ~$99M USD ($99,219,761.49)
See more data on Dune
How can I participate in Goldfinch Governance?
Goldfinch is a decentralized, community-driven and community-managed protocol. Governance is managed by the community DAO and has the ability to perform maintenance functions and parameter adjustments to the protocol. Anyone can participate in governance by making proposals, discussing them, and GFI holders can participate in voting to approve or deny them.
The Goldfinch community governance portal is located at https://gov.goldfinch.finance/. This is a venue for the community to make and discuss proposals. More details on the proposal process are in the governance portal here.
Snapshot votes take place at https://snapshot.org/#/goldfinch.eth. You can use your GFI balance to vote, and the results are calculated according to Quadratic Voting. To ensure sybil resistance with quadratic voting, participants need a registered Unique Identity NFT (UID).
🧠 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.
**Disclaimer: All APYs on Goldfinch are dynamic, and these APYs are a snapshot from 07.29.2022. The Senior Pool APY changes based on the amount of capital in, and the utilization rate of, the Senior Pool