🎁 Year in Review - 2022 in Numbers
A few articles
Goldfinch crosses $100M in active loans following expansion of qualified participants
Latest Goldfinch upgrade removes vesting for Senior Pool Liquidity Mining, for current and new LPs
Facilitating more transparency between Borrowers and Investors on Goldfinch
🎙Highlights of the week
Cauris Fund #4: Africa Innovation Pool closed earlier today with $2.12M funded by backers. These backers will earn a return up to 19.01% from real world economic activity! You can find out more about the pool here.
Goldfinch Membership just completed its third epoch! With more than $20M in locked assets, the Membership system has distributed over $22k of Rewards in 3 weeks. Join over 150 members to start earning Rewards today!
As outlined in GIP-25, Withdrawal Requests for the Senior Pool are now live. Learn how they work in the Goldfinch documentation, and get the technical details in the developer docs.
Goldfinch featured in Axios on how our DeFi protocol aims to sever crypto's reliance on crypto
RWA.xyz shared that Goldfinch now has the highest loans value outstanding of any RWA-backed credit protocol!
We reached our highest governance participation yet with over 100 votes on GIP-33 and GIP-34 and passing quorum.
👀 From the Beak
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. You can read more about Outlining a RWA Strategy for Aave here. We wrapped up this series of educational posts with a Twitter Spaces where the Warbler Labs Credit Team Members Justin Skoff and Obinna Okwodu and Punia all spoke to the Aave community and answered their questions live.
In case you missed the event - tune into the recording here.
📰 Goldfinch in the Media
Axios interviewed Mike for a piece this last week. Some excerpts: The crypto industry needs to break from its tendency to serve and eat its own cooking. The big picture: "'Financial inclusion' might be a buzz word, but [decentralized finance, or DeFi] has the ability to do this," Mike Sall, co-founder and chief of decentralized credit protocol Goldfinch, tells Axios. Sall also points out how DeFi protocols like Goldfinch have held up in spite of the crypto contagion involving centralized exchanges.
RWA.xyz launches their Analytics Platform
RWA.xyz launched last week - an analytics platform covering real world assets. They are creating the tools to help investors navigate the next big DeFi wave by making it easy to discover RWA and surface important terms of a deal. After their inaugural launch, they also announced Goldfinch as having the highest loans value outstanding of any RWA-backed credit protocol following recent events.
In case you missed it, tune in to the recording that we just shared on our LinkedIn Page here. Senior Business Ops Manager Jaou Touré lead a talk with Goldfinch Borrower Cauris, discussing their perspective on the macro landscape of FinTech in the African continent and continuing to drive growth with funding from Goldfinch
👂From the Community: Roundup
timmy.klima engaging with the Goldfinch community to propose GIP-33 and then rallying the community to get out and vote! The @KlimaDAO community at large showed up on Twitter to spread awareness. We look forward to next steps and staying aligned on mission-driven initiatives!
Ayyan_Rahman continues to support our community with excellent customer service regarding minting free Goldfinch credentials on Gateway. These credentials have been popular (educational quizzes to show you understand the Goldfinch protocol) and members are welcome to ask their questions directly to the Gateway team.
📅 Events
Please note that there will be no Weekly Discord Community Call until the New Year as we take a break for the holidays ☃️
Stay tuned for upcoming events here, by following @goldfinch_fi on Twitter, or in the Goldfinch Discord.
🗳️ 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-33: Offsetting Historical Emissions
Summary: KlimaDAO proposes to offset 1,737 tCO2 of on-chain carbon offsets to remove Goldfinch’s historic Ethereum carbon footprint and to amplify Goldfinch’s climate impact messages with a dedicated media partnership. Offsetting the 1,737 tCO2 footprint from this project will cost approximately $3,000 USD or Ξ2.7 based on current market rates.
GIP-34: FIDU + USDC LP into Curve pool with reserves (GIP-26 amendment)
Summary: Goldfinch should use a portion of its USDC reserves to acquire FIDU tokens and pair them with additional USDC on Curve as an LP. This will have the dual purpose of signaling strength in the protocol to other participants while also increasing the secondary market liquidity for FIDU tokens.
GIP-33 and GIP-34 both passed Snapshot voting with 99.99% and 99.98% of GFI in favor.
Each of these attracted the largest participation to date with over 100 votes cast!
🎱 Senior Pool / Borrower Pool Updates
Current Senior Pool APY: 14.09% combined (7.81% USDC + 5.28% 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.
📊 Stats
Defaults in the last 30 days: 0
Repayments in the last 30 days: ~$850K USD ($849,942.03)
Protocol Revenue in the last 30 days: ~$99K USD ($99,171.57)
Total Active Loans: ~$101M USD ($101,344,767.64)
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.
📗 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 12.16.2022. The Senior Pool APY changes based on the amount of capital in, and the utilization rate of, the Senior Pool.