Welcome to Goldfinch

I met Goldfinch quite by accident, in one of the telegram channels. The first thing that caught my attention was of course the logo. I wondered what this bird brought us. I went to the site, began to get acquainted with the project and with a doubling discovered that this is something completely new, which is not yet on the market.

Well, firstly, popular personalities (like Sergei ICODROPS) are shilling him, and secondly, the project wants to combine the defay sector with the physical one. That is, everyone can pour liquidity into the pools (as we do at pancake or other pharma) and their pools will provide loans to real businesses from the physical sector. Brilliant idea from brilliant developers.

The protocol works by providing lines of credit to credit companies. These companies use their lines of credit to obtain stablecoins from the pool and then exchange them for fiat and place them on their local markets. Thus, the protocol ensures the usefulness of the cryptocurrency — in particular, its global access to capital, while leaving the actual provision and servicing of the loan to the businesses that are best equipped to do so. On the investor side, cryptocurrency holders can make deposits to the pool to generate income. When the lending companies return their interest back to the minutes, it is immediately paid to all investors.

Borrowers — members who want to get a loan. To obtain a loan, their legitimacy is checked by the Auditors. To attract financing, the Borrowers create a Borrower Pool, which is a smart contract with the desired lending conditions (amount, interest, repayment schedule, etc.). Formed in two parts — Junior Tranche and Senior Tranche

Sponsors (Backers) — carry out early financing of the borrower, evaluating and selecting a specific Pool of the Borrower, forming the Junior tranche of this pool with their personal investments. The decision on the choice of the Borrower’s Pool and its financing is made independently, based on the information provided by the Borrower.

Liquidity Providers — receive passive income from contributing their funds to the Senior Pool. Unlike Sponsors, they do not independently choose the Borrower.

Auditors — audit Borrowers to help protect the protocol from fraud. Borrowers to obtain a loan from the Pools of the Borrower require the approval of the Auditors by their vote.

And lastly, I think this is a very cool project with a friendly community, cool assignments and, I’m sure, with good rewards for their ambassadors!

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