Goldfinch Update #40
Goldfinch Update #40
First Newsletter of 2023 - Happy New Years and Crypto Outlooks!
🎙️Highlights of the Week
New page for Institutional Investors is live! Visit it here https://goldfinch.finance/investor
Goldfinch Membership is now in its 7th epoch with almost $24M in locked assets. Over $60k of rewards have been distributed to members, on top of their existing interest and GFI earnings. Join over 170 members to start earning Rewards today!
Goldfinch was featured in several year-end wrap up posts and predictions for 2023 - Bankless, Dune Analytics, Delphi Digital and more! Check out a thread by a member of our Credit team for a comprehensive summary
Warbler Labs, the development team behind Goldfinch, was selected as a Top 10 startup - teams were chosen based on their potential to not only succeed, but to transform their respective industries
Our community continues to be active in Governance with GIP-36 and GIP-37 being passed just this last week
👀 From the Beak
Check out our new Institutional Investor page aimed at helping investors along their journey with ways to get involved.
https://goldfinch.finance/investor
📰 Goldfinch in the Media
Real world assets are here to stay with notable publications choosing to highlight RWAs as part of their 2023 Crypto Outlooks and Theses!
Our Senior Credit Manager Aaron highlighted several publications here
Source
Bankless
Goldfinch was featured under a section on Public Goods
Excerpt: Goldfinch is a protocol aiming to generate high yields while also providing relatively low-cost funding solutions for firms based in emerging economies. The Protocol’s self-stated mission is “to expand access to capital by creating a single credit marketplace” for firms of every size in every market. It offers lenders the opportunity to enter into fully collateralized loans, enforceable off-chain with legally binding agreements.
RWAs should not simply be valued for their yield generation capabilities. Providing emerging market participants access to decentralized credit markets CAN allow borrowers to lower their cost of capital, helping to spur development and narrow systematic wealth inequalities.
Source
Delphi Digital
Delphi Digital highlighted Goldfinch in a dedicated piece about Bridging Real-World Credit to the On-Chain World. Excerpt: Moving back to RWA credit protocols, the largest RWA financing name in the market is currently Goldfinch — a protocol that helps real businesses access crypto lending markets without having to post crypto collateral. Goldfinch boasts a business model that, unlike most others, is not deeply intertwined with crypto markets and has the ability to be counter-cyclical. This is perhaps the largest advantage from a business standpoint.
Source
Dune Analytics
Source
WellFound
We were delighted to be featured as a Top 10 Startup to look out for!
"In the world of crypto, where many projects sadly focus on playing money games, Warbler Labs (supporting Goldfinch) is unique in its commitment from the beginning of creating value for real companies in the real world. Our mission is to connect the world's capital with the world's growth, and we're already well on our way, with over $100M in loans outstanding to borrowers in over 20 countries."
Blake West - Co-Founder & Contributor, Warbler Labs
Source
📅 Events
Regular Discord Community Calls return next week! Friday at 9AM PT/12 PM ET
Monthly Founders call with Mike and Blake over on our Town Hall stage in Discord. Hear directly about exciting roadmap updates and come prepared with any questions you have - all are welcome!
Stay tuned for upcoming events here, by following @goldfinch_fi on Twitter, or in the Goldfinch Discord.
🗳️ Governance
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-36: Budget for community driven activities to reward active participation
Summary: The Goldfinch community is getting more proactive in their desire to initiate and run events that help promote and market Goldfinch. Over the past several months, Goldfinch has hosted AMAs with different communities across the world both on Twitter and Discord. We are requesting a budget to host these events and reward active community members.
GIP-37: New Community Management
Summary: This is the proposal for an ongoing community management team structure outlining their roles, responsibilities and compensation. Below is a detailed description of how we define the members of the community management team who will have specific roles and success metrics.
GIP-36 and GIP-37 both passed Snapshot voting with 100% and 99.69% of GFI in favor.
We welcome discussion and ideas for new Governance Improvement Proposals - head over to our #proposals-idea channel in Discord
🎱 Senior Pool / Borrower Pool Updates
Current Senior Pool APY: 14.09% combined (7.81% USDC + 6.28% 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: ~$801K USD ($801,040.00)
Protocol Revenue in the last 30 days: ~$92K USD ($92,471.39)
Total Active Loans: ~$101M USD ($101,344,767.60)
See more data on Dune
🧠 Resources
📚 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 1.13.2022. The Senior Pool APY changes based on the amount of capital in, and the utilization rate of, the Senior Pool.