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General FAQ

How do I get involved in the Goldfinch community?

There are several ways to get involved in the Goldfinch protocol. The best ways to get involved in the protocol are:
  • Participating as an active community member by joining the Discord.​
  • Being a Liquidity Provider in the Senior Pool (see Liquidity Providers to learn more).
  • Being a Backer to Borrower Pools (see Borrower Pools to learn more).

Do I need to be an accredited investor to participate in the Senior Pool?

No — anyone can participate in the Senior Pool. To learn how to participate, click here.

Where can I find the updates of the Goldfinch Protocol?

You can find all the updates in the the Goldfinch Discord server, Telegram, Twitter, and sometimes on Medium.​

I don't speak English. Will Goldfinch dapp be available in my language?

The app is still in English. However, there are different language channels set up in Discord - Russian, Ukrainian, Korean, Turkish, Indonesian, Vietnamese, Spanish, among others. These channels are great for asking any questions, and whenever an announcement goes out in English, these channels share a translated version. Community members have volunteered to translate the content into different languages, and any member should feel empowered to request to have one, and the community moderators will set it up if there is a high need.

Is Goldfinch a blockchain?

No, it is not. Goldfinch is built on top of the Ethereum blockchain.

Is Goldfinch open source?

Yes. All code, including the front-ends can be found at https://github.com/goldfinch-eng/mono. Just the smart contracts and associated audits can be found here: https://github.com/goldfinch-eng/goldfinch-contracts.

Does Goldfinch have a Bug Bounty program?

Yes, Goldfinch has a Bug Bounty program in partnership with Immunefi.

Which wallets does the dapp support?

The dapp supports WalletConnect, Metamask, and Ledger. Ledger performs optimally through Firefox. Trezor is currently not supported.

What is the currency of the loans?

All loans are in USDC. You can learn more about USDC here.

Does Goldfinch really take no collateral in its deals?

Goldfinch does not ask Borrowers to deposit any on-chain collateral to take out a loan. Instead, when structuring a loan, Borrowers are required to pledge real-world assets as collateral.

Has the Goldfinch protocol been audited?

Yes, by Certik and Trail of Bits. The initial V2 of the protocol (the design outlined in the white paper) has been audited by Certik (here is the Github repo). Another audit was done by Trail of Bits (https://www.trailofbits.com/) in November 2021 (here is the Github repo).

Who are the current Borrowers using the protocol?

The list of past borrowers is available publicly here under Borrower Pools. The focus right now is on credit funds and later stage borrowers who are series B and beyond.

I heard about "Flight Academy", what was that?

Flight Academy was a program that empowered the Backer community with tools and basic vocabulary needed to evaluate Debt Capital Markets deals. The program aimed to establish community values and set community norms. The academy ran from September 20, 2021, to October 25, 2021. The academy tutorials are available for free. Participants were rewarded with GFI (Goldfinch's token) based on a specific criteria, as explained in the final announcements here, and here.
Currently, the community has not proposed hosting another Flight Academy. However, community members should feel empowered to propose one through governance.

Backer Incentives vs. LP Incentives

There have been a lot of questions about the fact that retroactive distributions happened on launch day (Jan 11th) for LPs and not for Backers. Per the white paper, and because of this community-approved governance proposal, Backers will now receive distributions for participating in Borrower Pools. The smart contracts for Backer distributions have already been audited and deployed, and are already on the community Github repo here. Read more about Backer Incentives here
You can submit or discuss a proposal for Backer Rewards at gov.goldfinch.finance.
Update: There is a proposal for a retroactive Backer airdrop as well as Backer Rewards here.

If a Borrower defaults, is the money paid back on-chain or off-chain?

In practice, there are security agents with each Borrower that are instructed to liquidate the pledged collateral, convert into USDC, and make payments on chain into the relevant Borrower pool. The Senior Pool and Backers are then able to claim their portion of the funds from the Borrower pool.
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