Goldfinch Update #38
A new Pool is open for Backer participation, plus more from the nest
🎙Highlights of the week
Goldfinch Membership is live and over $20M in capital has been supplied to the vault to support Goldfinch’s growth and expansion. Become a Member here to start earning Member Rewards today.
You can now find Goldfinch on your Zapper dashboard. Access sustainable USDC lending to off-chain businesses alongside your other DeFi assets here.
Looking for a quick share to teach your friends about Goldfinch? Check out our new series of educational videos on YouTube.
Does US Middle Market credit offer an opportunity for DeFi disruption, and what is the status of the sector—read the analysis by Justin Skoff of Warbler Labs here.
👀 From the Beak
“A large portion of US Middle Market businesses have attractive credit risk profiles and demonstrated strong risk-adjusted returns across many instances and types of economic cycles. The rate of default has been only 3.0% in the last year, 5.4% since 2018, and 4.0% since 1995.”
Does US Middle Market credit offer an opportunity for DeFi disruption, and what is the status of the sector? Learn more from Justin Skoff, Senior Credit Manager at Warbler Labs, in his analysis on US Middle Market credit here.
Byte-sized Goldfinch education
What is Goldfinch, how does the protocol work, and what's the future that Goldfinch is building?
Check it out in our latest shareable educational videos, with production by Hubert Lamela. You can watch the Introduction to Goldfinch, How Does Goldfinch Work, and Build the Future with Goldfinch, on the Goldfinch Foundation YouTube.
Leading risk management standards
Warbler Labs General Counsel Chris Robins spoke at MiamiWeb3 on risk management, sharing some final words on what’s next: “I’m incredibly excited about the risk management initiatives that the Goldfinch Community will be working on. Building a risk management framework is table stakes in TradFi, and given the skill and experience of Goldfinch community members, Goldfinch should be a leader in DeFi risk management.”
The goal of the community-approved risk management proposals is to provide the Goldfinch community with additional tools to identify, monitor, and mitigate risk. The Community recently voted on both a risk appetite statement (GIP-31) and next steps for a risk management framework (GIP-32). Stay tuned for more on risk management from the Goldfinch community.
Expanding RWA adoption
Are you part of the Aave community? Punia, Ecosystem Lead at Warbler Labs, submitted a governance proposal for Goldfinch to help provide educational resources for the Aave community to start thinking about expanding into real-world asset lending. The first phase of the series focuses on the stability that real-world asset lending can bring to DeFi—read it here.
📰 Goldfinch in the Media
The Reserve protocol hosted a Twitter Spaces on the future of Real World Assets in DeFi, and the power that bringing off-chain investment on-chain in different forms can bring to the ecosystem overall. Aaron Colette of Warbler Labs spoke on Goldfinch, alongside representatives from Polytrade, Bluejay Finance, and Reserve. Listen to the recording here.
The Future of Lending
In case you missed it, tune in to Annie Cai of Warbler Labs covering Goldfinch in Defactor’s Real-World Assets summit at Token2049, alongside representatives from Techstars, Centrifuge, and MakerDAO. You can watch The Future of Real-World lending panel here.
🗳️ Governance Proposals & Protocol Updates
Approved proposals awaiting Council:
Summary: Despite positive feedback from current protocol users, prospective protocol users have expressed a desire to better understand the protocol’s risk management controls. The Warbler Labs team currently provides the community with certain risk management support; however, the vision has always been for the community to govern all aspects of Goldfinch protocol. GIP-31 seeks community approval to develop a documented risk management framework for the Goldfinch protocol. GIP-32 proposes an aligned Goldfinch Risk Appetite Statement. The proposed statement identifies five categories of risk: credit risk; treasury risk; legal and regulatory risk; protocol/smart contract risk; and reputational risk.
GIP-31 and GIP-32 passed Snapshot voting with 100% of GFI in favor.
🎱 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: ~$801K USD ($801,880.43)
Protocol Revenue in the last 30 days: ~$101K USD ($101,247.71)
Total Active Loans: ~$99M USD ($99,218,936.76)
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 12.02.2022. The Senior Pool APY changes based on the amount of capital in, and the utilization rate of, the Senior Pool.