Goldfinch

Goldfinch is a decentralized credit protocol built on Ethereum (with additional support on Base) that was founded in 2020 by Mike Sall and Blake West, both former Coinbase engineers. The protocol's core innovation is enabling real-world borrowers — small businesses, micro-lenders, and fintech companies in emerging markets — to access crypto-based financing without needing to over-collateralize their loans with volatile crypto assets. Instead, Goldfinch uses a system of decentralized "Auditors" and "Backers" to underwrite borrower creditworthiness, and the protocol's own smart contracts handle the mechanics of loan issuance, interest distribution, and principal repayment.

Goldfinch has deployed meaningful capital at protocol scale: as of late 2024, the protocol had originated over $100 million in active loans across borrowers in Africa, Latin America, and Southeast Asia, with yields to liquidity providers (LPs) historically landing in the 7%–11% APY range — notably higher than most traditional fixed income products and competitive with private credit funds. The protocol is governed by the GFI token, which holders use to vote on protocol parameters, borrower approvals, and fee structures. Goldfinch also runs a "Senior Pool" that passive LPs can deposit into for diversified exposure across the protocol's active loans, and a tiered system of "Backer Pools" where more active investors can underwrite individual borrower deals for higher yields and first-loss exposure.