GFI - GoldFinch Token

[vereshagin 1865]

Hello everyone! I would like to tell you about the next generation lending protocol - GoldFinch Finance.

 

The platform will have its own GoldFinch Token (GFI). This is a token that will be used for management votes, auditor rates, auditor vote rewards, sponsor rates, early sponsor rewards, and other potential rewards for the entire member protocol. 

 

GoldFinch Finance is the protocol that creates one of the biggest missing pieces in DeFi: no collateral loans. The protocol team believes that this is a decisive step in crypto, which is finally opening up access to cryptocurrencies for countries around the world. By decentralizing the DeFi process, GoldFinch can fully open up a new level of underwriting opportunity, allowing anyone to be a lender, not just banks.

 Principle of operation of GoldFinch Finance: The protocol works by providing credit lines to credit companies. These companies use their lines of credit to obtain stablecoins from the pool and then exchange them in their local markets. Thus, the protocol ensures the usefulness of the cryptocurrency - in particular, its global access to capital, leaving this actual provision and service to the courts of the enterprise 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 protocol.

For more details about the technical part of the project, see the Witepaper.

 

[Dagamand007 12021]

On 23.09.2021 at 11:57, vereshagin said:

 

GoldFinch Finance is the protocol that creates one of the biggest missing pieces in DeFi: no collateral loans. The protocol team believes that this is a decisive step in crypto, which is finally opening up access to cryptocurrencies for countries around the world. By decentralizing the DeFi process, GoldFinch can fully open up a new level of underwriting opportunity, allowing anyone to be a lender, not just banks.

If the development team manages to implement what they have in mind. It will really be a breakthrough in lending with the help of cryptocurrency.
I wonder how they will be able to oblige the borrower to return the funds without an insurance premium?