Goldfinch Update #33
A little alpha tease, a lot of resources. Plus, how to provide feedback to Goldfinch.
🎙️Highlights of the week
Goldfinch is launching big news next week. Do you know where to stay updated with the latest from the Foundation? Follow Goldfinch on Twitter, join the community Discord, link up with Goldfinch on LinkedIn, and keep an eye on goldfinch.finance…
Provide your feedback about Goldfinch participation by taking a quick, four-question survey here.
A new proposal has been launched in the Governance Forum, GIP-27: Proposed Changes to Membership Vaults for Initial Release. Read on for Governance updates, upcoming events, and more.
👀 From the Beak
Have feedback for Goldfinch? We’re working to support the growth and improvement of the Goldfinch community experience, and want to hear your thoughts on Goldfinch participation. Take the 4-question survey to support community efforts here.
Dip your toes
The Senior Pool is Goldfinch’s single diversified pool for real-world lending, optimized for ease. Do you know how it works?
Learn about Goldfinch’s automatically distributed Pool, protected by Backer capital, and how to get started as a Senior Pool LP in our post here.
New credentials for the community
The results of GIP-24 are now live! You can now earn credentials on Gateway for learning about and demonstrating your knowledge of Goldfinch and how the protocol works. The first credentials can be earned for knowledge of Goldfinch’s Goverannce process, FAQs, how UID works, Senior Pool mechanics, and Borrower Pool mechanics. Earning each credential unlocks a beautiful card in the new Goldfinch brand style, which can be minted on Polygon to add to your NFT collection.
📰 Goldfinch in the Media
Congratulations to our friends at Carapace Finance on announcing the launch of their test product and a $2.5M raise led by NFX. Carapace plans to launch their first live product on Goldfinch, expected in 2023, and we’re excited to see the ecosystem grow. The team is building insurance protection against default risk in crypto loans by creating a marketplace to connect buyers and sellers of protection against credit default risk. Learn more in their announcement.
“Rising rates, falling demand for DeFi, and an adverse macro environment globally have combined to create the highest opportunity cost for moving money on-chain in crypto’s history.”
The Tie hosted a LinkedIn Live panel this week discussing “Real World Assets: Bridging Rising Global Rates to DeFi.” Hosted by The Tie VP of Research Jack Melnick, Aaron Collett, Senior Credit Manager at Warbler Labs, along with Quinn Thompson of Maple and Colin Cunningham of Centrifuge, discussed opportunities to move money on-chain with Real World Assets, how RWAs can be countercyclical DeFi yield, and more. Watch the recording here.
👂From the Community: Weekly Discord Roundup
This week we had our monthly Discord call with Goldfinch Co-Founders Mike and Blake, and we appreciated these thoughtful questions from Community Members that were answered live.
INTJ_Magic asked: “What does Goldfinch need to achieve explosive growth? In short, what is the limiting reagent? Is it capital? Highly qualified borrowers? Time? Thanks for doing these town halls!” Answer: They shared initiatives and roadmap updates on the governance proposals and attracting more capital and investment
XeroRaist commented that our protocol has a unique niche in this space, continuing to this question: “I’m no fintech expert or know the legal wrangling to do business with US companies but the potential seems huge. Wen US based companies?” Answer: This will be answered by members of the Credit Team, who work most closely with our borrowers.
Libratus asked: “What were the main lessons from a16z school Blake mentioned above?” This was in reference to Blake highlighting the experience of going through the a16z founder program, and sharing it in Discord. Answer: The network of meeting other Founders, people excited about crypto, and early investors.
Goldfinch is sponsoring WebSummit in Lisbon November 1-4th! Interested in meeting up with Warbler Labs’ Head of Community Po On Yeung or Partnerships Lead Ann Cai while you’re there? Reach out to let us know, or come find the Goldfinch booth in the startup section.
Goldfinch representatives will be speaking at the VanEck Southern California Blockchain Conference hosted by Blockchain @ USC. The event takes place in LA November 10-11th—RSVP here to attend.
Weekly Discord Community Calls: Participate in a Q&A with the community and Warbler Labs team on Goldfinch’s Discord Town Hall Stage every Friday. Join the next one on Friday, October 28th at 9AM PT / 12PM ET.
🗳️ Governance Proposals & Protocol Updates
Approved proposals awaiting council:
Summary: The Warbler Labs team proposes simplifying the design of Membership Vaults in order to (a) make the vaults more user friendly and intuitive to interact with, and (b) speed time to market so the community can access this new feature. These changes consist of removing Lock Ups and Lock Up Period weighting, removing the governance multiplier on GFI tokens for initial release, and, with the removal of Lock Ups, requiring users to hold a Membership Vault position for an entire reward epoch (1 week) to become eligible for rewards
Motivation: In the course of building Membership since it was passed by the community in GIP-13, Warbler Labs has encountered a number of complications in the original proposal that the developers believe should be simplified for the initial release of Membership Vaults. These changes would enable participants to enter and exit the Membership Vaults at any time, make the Membership Vaults more intuitive and user friendly to interact with, and speed the development time to deliver this feature to the community.
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: ~$753K USD ($752,979.28)
Protocol Revenue in the last 30 days: ~$88K USD ($87,898.08)
Total Active Loans: ~$99M USD ($99,219,761.33)
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 10.21.2022. The Senior Pool APY changes based on the amount of capital in, and the utilization rate of, the Senior Pool.