Goldfinch. What is and what is useful.

2021-09-24T14:56:54.764Z

Goldfinch is a decentralized credit platform for crypto loans without collateral. This is the missing piece that finally unlocks crypto lending for most people in the world.

Protocol participants.

There are 4 participants in the protocol:

1. Borrowers. Let's start with the borrowers. These are companies looking for funds. They create pools of borrowers, after which these pools are evaluated by sponsors.
2. Backers. Sponsors are people who evaluate borrower pools and provide capital for the junior tranche with the highest risk of first loss.
3. Liquidity providers. Liquidity providers are participants that provide capital to the main pool - a smart contract, which is subsequently responsible for the distribution of capital in tranches.
4. Auditors . Auditors are people who ensure the protection of the protocol and the integrity of its participants, as well as are responsible for the withdrawal of funds by borrowers.

How the Goldfinch protocol works

Using Goldfinch today

So the first company is QuickCheck, which is based in Nigeria and provides consumer loans through its mobile application. Goldfinch is already actively helping this project so that it develops its system and helps even more people.

The second example is Aspire. This company provides financial services throughout Southeast Asia. The Goldfinch Protocol expanded funding for them, too, so that they could provide even more loans.

A third example is the ALMA Accreditation Fund. They are the first borrower to raise sponsorship capital through their pool, while they themselves finance sectors of various sectors of the economy, focusing on the register of carbon credits.

Семён Слепаков

Goldfinch. What is and what is useful.