World

Goldfinch

<a target="_blank" href="https://tokeninsight.com/en/coins/goldfinch/overview" rel="noopener noreferrer nofollow">Goldfinch</a>, a DeFi protocol extending loans to real world bussiness, has faced a setback as a $5 million loan to Kenyan motorbike company Tugende defaulted. Tugende reportedly breached the loan agreement's terms, leading to the default, which accounts for about 4% of Goldfinch's Total Value Locked (TVL). 
This default will result in a net 3.95% write-down to the NAV of the Senior Pool. Since the APY on the Senior Pool has been 7.81% for the past year, this means the overall trailing 12-month APY at the end of this 120-day write-down will be a net positive 1.50%. 
Goldfinch is a decentralized credit protocol with a mission to expand access to capital and foster financial inclusion. The protocol makes crypto loans with real world assets as collateral. The Goldfinch community makes loans to companies around the world, starting with emerging markets. 
&nbsp; 
<a target="_blank" href="https://tokeninsight.com/en/cryptocurrencies" rel="noopener noreferrer nofollow">TokenInsight</a> is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email <a href="mailto:news@tokeninsight.com" rel="noopener noreferrer nofollow">news@tokeninsight.com</a>. Your trust will be well respected.

Real World Asset Lending Protocol Goldfinch Face Loan Default

TokenInsight

Other articles published on Aug 8, 2023

Sinyal Bullish BTC Mereda, Investor Cerdas Lirik Peluang Tradecurve

Bitstamp Eyes Expansion Plans in Europe and Asia

Traders Moved $3,400,000 worth of APE: Price Crash Imminent?

Borroe ($ROE) Entering Stage 1: A Possible Magnet for Tron (TRX) and Shiba Inu (SHIB) Investors

Performa Kian Apik, Pertumbuhan Kuartalan Cardano Sentuh 49 Persen

New Announcement on BNB Network from Bitcoin Exchange Binance!

Join our free newsletter for daily crypto updates!