Goldfinch Update #26
We’re proud to announce a new launch, plus, how to get paid in USDC for conducting credit analysis
🎙️Highlights of the week
We’re proud to launch the new goldfinch.finance site. Check it out and let us know if you have any feedback!
For a few more days, applications are open for the first round of Goldfinch Credit Analysis Grants. Apply here.
Jump Crypto noted Goldfinch’s leading approach in the landscape driving DeFi forward with on-chain credit models. Read the report here.
👀 From the Beak
Announcing the new goldfinch.finance! Goldfinch is distinctly different from the highly volatile DeFi lending most people may be familiar with, and we’re excited to show off our proven Borrowers, visionary supporters, and all the ways to invest directly in previously exclusive deals.
For too long, the financial system has been fragmented and owned by everyone except the users. We believe that crypto offers a reset and that everyone can participate in this transformative financial renaissance.
Join the Goldfinch community on Discord to get involved today.
Flex your expertise
There’s still a few more days left to apply to the Goldfinch Credit Analysis Grant! This first pilot of the Credit Analysis Grant is a community-led program to compensate qualified community members for writing Credit Analysis Memos for two upcoming Borrower Pools. You can learn more about the program, and apply through the end of the month, here.
Level up liquidity
It’s important for Goldfinch Investors to understand when and how to access liquidity after supplying USDC to the protocol. There are multiple options for withdrawing capital by exiting a position or claiming interest payments, depending on whether one participates in specific Borrower Pools as a Backer or invests via Goldfinch’s Senior Pool as a Liquidity Provider. Learn all about it in our post.
📰 Goldfinch in the Media
A new must-read report from Jump Crypto, web3 division of the Jump Trading Group, explores the future of on-chain credit as the engine of growth for a new financial paradigm. The report analyzes the options for prime brokerage-driven or identity-based credit markets, noting “lending models as an indispensable growth driver” for DeFi’s progression.
The report highlighted Goldfinch as "one of the more sophisticated identity-based approaches.” Learn more about how Goldfinch exemplifies an identity-based DeFi credit marketplace in the full report.
Goldfinch continues to be called out for having one of the highest stablecoin returns in crypto. According to DeFi Llama metrics, Goldfinch has the #2 highest stablecoin return in DeFi for all protocols with at least $50M in TVL, and the #1 highest stablecoin return for protocols with no impermanent loss risk. View the data here.
🗳️ Governance Proposals & Protocol Updates
Approved community proposals awaiting council:
Summary: Following the passage of the GIP-15: Secondary Marketplace for Borrower Pool Positions proposal, the community needs to choose a name for the marketplace.
GIP-21 passed with 100% approval. View the proposal here to learn more.
Summary: Task Messari with building out a standardized protocol-level income statement with long-form reports contextualizing the data, to live as free resources on Messari’s site, be delivered to Messari’s 250k email subscribers, as well as via distribution partners including S&P Global and Bloomberg.
GIP-20 passed with 99.24% approval. View the proposal here to learn more.
Summary: Increase the threshold for quorum on Snapshot votes from 50k to 250k, to maintain legitimacy and prevent attacks.
GIP-19 passed with 100% approval. View the proposal here to learn more.
Community proposals for discussion:
Summary: Add Barracuda’s Cuda.io product to the Goldfinch community building/growth/marketing team’s tool belt for use within Goldfinch’s Twitter bio, and in other situations where it is useful to direct visitors to an easily customizable landing page.
Motivation: Improving the user experience of new and existing community members can help our community grow and prosper.
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: ~$849K USD ($849,132.60)
Protocol Revenue in the last 30 days: ~$100K USD ($100,137.57)
Total Active Loans: ~$99M USD ($99,219,761.43)
See more data on Dune
🧠 More Info
📚 Ready to start investing? Read the step-by-step guide.
💰 Considering providing capital to the protocol, but would prefer to chat with a human first? Complete the Goldfinch Capital Provider Interest Form here.
☕ Book a slot to chat with Warbler Labs team members here.
**Disclaimer: All APYs on Goldfinch are dynamic, and these APYs are a snapshot from 08.26.2022. The Senior Pool APY changes based on the amount of capital in, and the utilization rate of, the Senior Pool