Goldfinch is a dynamically developing protocol that aims to change the entire idea of loans and make them available for a wider audience. It introduces a brand-new approach: collateral-free crypto lending. Absence of large crypto assets will no longer be a handicap for borrowers. The era of the principle of “trust through consensus” starts to reign over the market.
Who is Goldfinch for?
The protocol open new opportunities for literally every person on the planet to participate in this journey based on mutual trust and fair evaluation. The main defect of the currently existing collateral approach is the limited number of “players” — banks act as lenders, crypto holders can benefit from the loans.
This is what Goldfinch is willing to change.
To put it simple: anyone can apply as a borrower, anyone can offer his crypto capital and become a lender.
How Goldfinch works: 4 horsemen of the protocol
The entire work of the protocol is based on the participation of 4 key figures:
- Liquidity Providers;
It all starts with Auditors. They approve the participants who seek financing (Borrowers). This first step is done to eliminate unnecessary risks and fraudulent schemes. Approved Borrowers propose their pools for Backers. Pools contain the information about the terms, interest rate, payment period, etc. Backers do an extra research about Borrowers reliability and honesty and decide whether to supply junior capital. Liquidity Providers are crypto holders who supply additional (senior) capital to earn passive yield.
The principle “trust through consensus” introduces safe and multistage approach to lending money. Goldfinch has already launched and successfully tested this concept in India, Indonesia, Mexico, Nigeria, Singapore, Thailand, and Vietnam.
Why is it worth working with Goldfinch
- The protocol has a strong resistance to all types of dishonest schemes.
- Goldfinch partners up with “big players” in lending.
- Backers with small assets are welcomed to join and benefit from the protocol.
- Unique Entity Check for preventing sibyl attacks.
- Only verified Borrowers (approved by both independent group of editors and Backers themselves).
Join Goldfinch’s mission in building a strong global community with equal opportunities for crypto loans. Help create a future in which everyone can benefit for themselves by helping others!