The Beak: Goldfinch Update #9
New Pool breaks ground in LatAm, Celo love, and more from the nest
As always, here’s a rundown of recent highlights for the protocol, a pulse on the community, and the latest news on new Borrower deals.
🎙️Highlights of the week
The Addem Capital Pool for $10 MM USD is currently open for participation, bringing DeFi to small businesses in Mexico for the nation’s first time. Backers expect 17-40% combined APY. Join before it’s filled.
Join Goldfinch and Addem Capital next Thursday for a conversation exploring the challenges and opportunities surrounding DeFi in Mexico and Latin America. Set a reminder here.
Backer Rewards are now fully implemented on Goldfinch, ensuring Backers are fully incentivized for their participation in the protocol. Learn more in our announcement.
🎱 Senior Pool / Borrower Pool Updates
The Senior Pool is the lower risk, lower return option for USDC yields: deposit and the protocol diversifies across different Borrowers.
Current Senior Pool APY: 22.44% combined (7.74% USDC + 14.70% GFI)
Borrower Pools are the more active, higher risk, higher return opportunity for USDC yields. Pools normally close for participation within a week.
Asset-Backed Pool via Addem Capital: Backer APY 37.64% combined (17% USDC + 20.64% GFI)
There will be one new pool opening at the end of April – see our calendar for the exact dates.
Disclaimer: All APYs on Goldfinch are dynamic, and these APYs are a snapshot from 4.22.22. The Senior Pool APY changes based on the amount of capital in, and the utilization rate of, the Senior Pool.
📈 10MM Addem Capital Pool brings crypto to LatAm businesses
For the first time, small businesses in Mexico will be able to utilize crypto capital to gain formal financing via Addem Capital—by way of the fund’s $10MM Borrower Pool launched on Goldfinch this week.
Addem Capital holds a mission of deepening and improving the debt market in LatAm to help overcome the difficulties small businesses face obtaining accessible financing in the region. The $10MM funded by Goldfinch’s global decentralized network of lenders will be used to provide accessible debt to early-stage and sustainability-focused companies in five sectors. Learn more in our announcement.
“DeFi has a great potential as a catalyst for developing financial inclusion in LatAm. Protocols are already a real financing option for emerging markets in Asia and Africa; we are certain it is just a matter of time until the same happens in LatAm. We are eager to untap this huge opportunity.” —Pedro Cetina, Co-founder & Managing Partner at Addem Capital
💪 Backer Rewards are fully implemented on Goldfinch
In January, a Goldfinch community governance proposal addressed the need to ensure that a Backer’s incentives are always higher than those of a Senior Pool participant’s, to preserve the protocol’s consistent risk/reward tradeoff and as a protective means to reduce system fragility. Those Backer Rewards are now fully implemented following this week’s successful protocol upgrade. Get the details in our post.
📰 Goldfinch in the Media
Mike from Warbler Labs also chatted with hufhaus9 about crypto loans to the real world. Check it out:
To Celo, with love
Thank you to @CharlesDNichols, Founder-in-Residence at Celo, for giving a shoutout to the Celo Connect panel on the future of decentralized credit as one of his favorite talks from the conference!
In case you missed Warbler Labs’ Aaron Collet alongside Brendan Playford and Patrick Baron, you can watch the talk here.
🎤 Thursday, April 28th at 9:00 AM PST: Join Addem Capital, in a conversation about the unique challenges and opportunities surrounding DeFi in LatAm. Add it to your calendar now, and set a reminder here.
🗳️ Governance Proposals & Protocol Updates
GIP stands for “Goldfinch Improvement Proposals.” Anyone can push for a GIP using the Governance Process laid out here. Voting costs nothing and happens through Snapshot, though you need to hold GFI / tokens to participate.
No new updates this week, but head over to the #proposals-ideas channel on Discord for energizing discussions on what the community wants to build next.
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0⃣ Defaults in the last 30 days: 0
💰 Repayments in the last 30 days: ~$1 million USD ($991,417.45)
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