Goldfinch Project

I am insanely happy to be a part of such a grandiose project as GoldFinch! GoldFinch is a new, decentralized lending protocol.
which appeared quite recently in the world of cryptocurrency. This greatly simplifies access to financial services on DeFi due to the lack of collateral, which leads to another, more advanced level of “Crypto Lending”.

This protocol contains the following participants: 1) borrowers; 2) sponsors; 3) liquidity providers; 4) auditors. Borrowers are people who are looking for financing. They offer poods of borrowers to evaluate certain sponsors. They call this method “ trust through consensus”, because this protocol creates a way that allows borrowers to demonstrate creditworthiness based on the collective assessment of other participants, and not on their crypto assets. There are two pools of investment in GoldFinch: they can be called senior and junior. The junior pool is in direct contact with potential borrowers and is responsible for the suitability for accessing the protocol. The senior pool uses a credit assistance model to automatically distribute capital between pools of borrowers, depending on how many sponsors participate in these pools. When the Senior Pool distributes the accumulated capital, part of its interest is redistributed among the Sponsors. Liquidity providers provide capital to the Senior Pool to generate passive profits.

The difference between GoldFinch and other projects is enormous. The main limitations of other existing cryptocurrency protocols are their excessive collateral, which most borrowers from different countries cannot afford. And the most important benefit of GoldFinch is the access of new auditors to become not only a bank, but also a borrower, which will undoubtedly expand the scope of crypto-lending and increase the flow of new borrowers from around the world. The project has such sponsors as Andreessen Horowitz, Coinbase Ventures, IDEO CoLab Ventures, Variant Fund, Jill Carlson (Slow Ventures), Morgan Beller (Diem), Robert Leshner (Compound), Tarun Chitra (Gauntlet).

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