Goldfinch (GFI)

Goldfinch is a decentralized protocol that allows for crypto borrowing without crypto collateral.

Whitepaper

Onepager

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Interest lvl

Highest

Updated: Jan 27, 2022

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User Rating

Highest

5/5 • 3 votes

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Ticker

GFI

Type

Utility-token

Token standard

ERC20

FoundedUnited States

Registration countryUnited States

Registration year2020

What is Goldfinch

A core limitation of current crypto lending protocols is that they require overcollateralization with crypto, which prevents the vast majority of borrowers in the world from participating. By incorporating the principle of “trust through consensus”, the Goldfinch protocol creates a way for borrowers to show creditworthiness based on the collective assessment of other participants rather than based on their crypto assets.

The protocol can then use this collective assessment as a signal for automatically allocating capital. By removing the need for crypto collateral and providing a means for passive yield, the protocol dramatically expands both the potential borrowers who can access crypto and the potential capital providers who can gain exposure.

The Goldfinch protocol has four core participants: Borrowers, Backers, Liquidity Providers, and Auditors.