Goldfinch Founders Talk Triple-Digit Growth and UX Upgrades in DeFi
Today we are joined by the cofounding forces behind Goldfinch, Blake West and Mike Sall. They share with us about what they learned from over 70 user interviews from everyone from Blackrock, Apollo to retired nurses, as well as their excitement around the user experience improvements for the entire Web3 and crypto space and how that UX and UI improvement will impact the Goldfinch Protocol. They also dive into how they saw 162% year-over-year growth in 2022 with no defaults. Blake and Mike give us insight into their thoughts on how crypto will reshape the global economy, expanding access to capital around the world and what they're building to make that possible. But first they give us the TL;DR of Goldfinch as well as what they're both focused on.
7 Key Takeaways
- In Private credit, companies get investment from investors, and traditionally, institutions can access it. Compared to public markets, where public companies issue debt.
- The index of confidence in stock markets has been gradually declining over the past 20 years. Investors look for new ways of getting yield.
- Money is currently hard to get, and things are uncertain, so liquidity is key. People would be willing to trade off yield to have the ability to exit their positions faster.
- Big names JPM included, are trying to build or buy some sort of tokenization platform. Long-term institutions are gonna be there, but short term it could be a little tough.
- Goldfinch is a private credit platform, built on Ethereum. Borrowers come to the platform looking for capital, and Lenders supply to those borrowers.
- Goldfinch Backers evaluate Borrowers based on the collateral they have off-chain and the performance of their operations. Different from other lending protocols where you have to overcollateralize, and the collateral is on-chain.
- A huge range of UX improvements are possible through account abstraction.
- 00:00 Intro
- 00:52 TLDR of Goldfinch and the main focus
- 05:17 Background and The Goldfinch Founding story
- 16:33 Alpha for individuals on the Goldfinch side.
- 22:00 How does the protocol work?
- 27:35 Goldfinch ethos, vision, and culture
- 40:40 Triple-Digit Growth
- 42:45 UX Upgrades in DeFi
- 46:00 GFI: The Goldfinch Token
- 48:25 Goldfinch’s Roadmap 2023-2024 and L2 plans
- 59:59 What makes you Defiant?