Goldfinch Update #29
How to conduct due diligence on Goldfinch’s Borrowers, where soulbound tokens connect to Goldfinch, plus upcoming events
🎙️Highlights of the week
What are the four key resources Borrowers provide for Investors to conduct due diligence? Read our post.
If you missed Goldfinch’s Twitter Spaces with Centrifuge covering how RWAs will transform DeFi, you can listen here.
Over the next month Goldfinch will be at Messari Mainnet, Circle Converge, Celo Connect Salon, and FinTech Nexus Merge. Read on for upcoming events and more!
👀 From the Beak
Launching a Borrower Pool on Goldfinch is like proposing a “term sheet” to the network’s Backers, who evaluate individual deals and determine whether or not to supply USDC to them. This means that when a Borrower proposes a Borrower Pool to the protocol it does not guarantee the deal’s terms will be accepted; Borrowers need to convince potential Backers to invest in their pool.
So, what resources are available to conduct this due diligence? Learn about the four key resources Borrowers provide in our post.
RWAs lift all ships
Goldfinch and Centrifuge teamed up for a Twitter Spaces this week hosted by Warbler Labs’ Head of Community Po On Yeung, featuring a conversation between Centrifuge Co-Founder and CEO Lucas Vogelsang and Mike Sall, Goldfinch Co-Founder and Warbler Labs CEO. A broad range of attendees tuned in to hear about what sparked each protocol’s founding, the inevitability of bringing RWAs on-chain, how doing so brings value to DeFi, and a number of community AMA questions. Listen to the recording here.
Warbler Labs CTO and Goldfinch Co-Founder Blake West spoke on RWA lending at this week’s Digital Asset Summit hosted by Blockworks, alongside Sid Powell of Maple, Aave, and others. Miss the conference and livestream? Read on for information about Goldfinch’s upcoming events and speaking engagements in the Events section of this week’s update.
📰 Goldfinch in the Media
“Soulbound tokens will bring mass adoption to DeFi.” So says DeFi researcher Ignas, in his recent thread on the term coined by Ethereum founder Vitalik Buterin for non-transferable tokens that represent a person’s identity on-chain.
How does this relate to Goldfinch? Ignas is not the first to classify UID by Warbler Labs, the world’s first NFT for identity, as a soulbound token. Used by Goldfinch to fulfill the protocol’s unique entity check, UID is a non-transferable NFT for identity that stores no personal information on-chain and is fully composable across DeFi as an ERC-20. Learn more about how Goldfinch’s unique entity check provides the protocol with Sybil resistance in the documentation, and see how Goldfinch exemplifies one of the earliest protocols enabling DeFi to reach the real world economy in Ignas’ thread here.
Let’s get deep
Web3 data analytics, insights, and tooling community MetricsDAO published an in-depth Goldfinch report by analyst David Shuttleworth. The report gets granular into how Goldfinch operates and is designed, diving past the basics and into tokenomics, incentive alignment across the network, plus an investigation of Goldfinch’s NFT credentialing framework for Backers. Read it here.
Weekly Discord Community Calls - We’re kicking off regular Friday chats and Q&A with the Warbler Labs Team on our Discord Town Hall Stage. Join the next one on Friday September 23rd at 9AM PT / 12PM ET.
Goldfinch Senior Engineering Contributor Emily Hsia will be speaking about Goldfinch and the Future of Yields at the Messari Mainnet Conference September 21-23rd in NYC. Reach out if you’ll be in New York for Mainnet and are interested in meeting the team!
Warbler Labs Senior Credit Manager Aaron Collett will be presenting on Goldfinch for the Celo Connect Salon on Friday September 23rd. Sign up here.
Goldfinch is sponsoring Circle Converge September 27-30th in San Francisco. Are you attending? Come say hello to the Warbler Labs team in the Goldfinch booth!
Goldfinch is also sponsoring FintechNexus Merge in London October 17-18th, where Warbler Labs Senior Credit Manager Aaron Collett will be speaking alongside Aave and others.
🗳️ 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.
Approved proposals awaiting council:
(GIP-24) Credentials for Goldfinch Community: Gateway x Goldfinch Partnership
Summary: The Gateway team seeks to establish a partnership with Goldfinch to increase community education, engagement, and recognition by onboarding its Community Team onto the Gateway Credentialing dapp.
Motivation: Gateway believes Goldfinch is well positioned as one of the few DeFi protocols truly bridging the gap between traditional and decentralized finance. Additionally, Gateway would like to increase general awareness of this ecosystem, knowledge of Goldfinch’s products, and contributor recognition for governance and community efforts.
View the proposal here to join the conversation.
Vote on the proposal here on Snapshot
🎱 Senior Pool / Borrower Pool Updates
Current Senior Pool APY: 13.69% combined (7.81% USDC + 5.88% 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.
Defaults in the last 30 days: 0
Repayments in the last 30 days: ~$801K USD ($801,055.94)
Protocol Revenue in the last 30 days: ~$94K USD ($94,925.75)
Total Active Loans: ~$99M USD ($99,219,761.40)
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.
🛠️ Find job openings for a variety of roles building for Goldfinch at Warbler Labs here.
☕ Book a slot to chat with Warbler Labs team members here.
📗 Read 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 09.16.2022. The Senior Pool APY changes based on the amount of capital in, and the utilization rate of, the Senior Pool