WalletConnect is live & more – The Beak: Goldfinch Community Newsletter #4
You heard it straight from the beak (of the community)
Dear Goldfinch Community,
Here’s a rundown of recent highlights for the protocol, a pulse on the community, and the latest news on new Borrower deals. Enjoy our fourth edition!
🎙️Highlights of the week
🎉 Last night, Goldfinch crossed 100M+ USD in Total Value Locked (TVL)!
💳 WalletConnect is now supported by the Goldfinch! This means different wallets and asset management tools, including Fireblocks, Gnosis Safe, Rainbow, and others can be connected to our app.
🧐 We’re hosting a session on the “Best Stablecoin Opportunities” with Rennick Palley of Stratos next Friday! Set a reminder and join here.
🌐 Our fintech-tradfi-lounge on Discord has had vibrant discussions on current geopolitical climates, and how it affects global debt markets. Join in the conversation.
🎱 Senior Pool / Borrower Pool Updates
The Senior Pool is the simple, lower risk, lower return option for USDC yields. The USDC supplied is diversified across different Borrowers.
👴🏽 Current Senior Pool APY: 6.96% USDC (26.34% with GFI).
Backer Pools (or Borrower Pools) are the more active, higher risk, higher return option for USDC yields. These normally close within a week or two.
🧍 We have a new borrower, Lend East, opening a deal on March 17th, 2022.
👀 Keep an eye on our calendar for midweek updates.
📰 Goldfinch in the Media
🙏🏽 We got a shoutout in Balaji Srinivasan’s blog on “Add Crypto to IndiaStack.”
“Defi was only $1-2B last year, so it's grown 25X in a year's time, and may be a trillion dollar sector in a few years. Very few economic trends are that big and growing that fast… There are already a slew of decentralized finance tools to take out different kinds of loans… Some of these crypto lending platforms, like MakerDao, require crypto as collateral. Others, like the newer Goldfinch, do not.”
📅 Events
⏰ Set a reminder for our panel with Rennick Palley from Stratos on “The Best Stablecoin Opportunities” for your capital! There will be an open Q&A at the end. Happening next Friday, March 18th, at 9:00 AM PST.
🏛️ Past: In today’s Warbler Labs Town Hall, we chatted about borrowers with Aaron from Wabler Labs. We discussed the best practices when deciding what Borrower Pools to park capital in to ensure great USDC yields. See the recording 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.
🗳️ GIP-07: Support Entities on Goldfinch (Snapshot passed)
Right now, only individuals can participate in Goldfinch. With this proposal, U.S. and non-U.S. entities will also be able to participate in the Goldfinch protocol. Read here.
🕰️ Status: This is now pending Council approval.
🗳️ GIP-08: New Community Management, Roles and Backpay (Snapshot passed)
We’re very lucky to work with incredible community members. This proposal asks for compensation (backpay) for community contributors and proposes a new structure for participation.
🕰️ Status: This is now pending Council approval.
🏛️ GIP-05 Retroactive Borrower Airdrop (Discussion)
This is about distributing GFI to the first Borrowers at Goldfinch, who have been integral in the success of the protocol.
🕰️ Status: This proposal is up for discussion here.
❓FAQs
How can I open a credit line with Goldfinch?
Currently, only fintechs and companies that are Series B and beyond can open credit lines with Goldfinch.
📊 Stats
🐦 46,689 Twitter Followers
0⃣ Defaults in the last 30 days: 0
💰 Repayments in the last 30 days: ~7.9 million USD (7,967,178.59)
🔒 TVL (Total Value Locked): > 100 million USD (100,187,364.85)
💵 Total Active Loans: ~72 million USD (72,418,598.96)
📊 See more data on Dune
🧠 More Info
🐦 Follow us on Twitter, join our Discord, and see the latest governance activity on Discourse
📚 On the fence and want to get started? See our simple protocol guide
💰 Want to deposit capital in the protocol, but would rather chat with a human face first? Fill our form here and our team will get back to you
🛠️ Find job openings for community, marketing, engineering, and other positions here. Come Buidl with us!