Real World Asset Lending Protocol Goldfinch Face Loan Default

Real World Asset Lending Protocol Goldfinch Face Loan Default
Source: Goldfinch

Goldfinch, 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.

 

TokenInsight 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 news@tokeninsight.com. Your trust will be well respected.

Source

DeFi

Lending

In This Article

Related News
Wildcat, the decentralized credit platform built by Crypto Twitter mainstay Laurence Day, launches new version on Ethereum Wildcat, the decentralized credit platform built by Crypto Twitter mainstay Laurence Day, launches new version on Ethereum
Bernstein names Robinhood as top 'crypto deregulation trade,' raises price target to $51 Bernstein names Robinhood as top 'crypto deregulation trade,' raises price target to $51
Arijit Sarkar Arijit Sarkar 2 hours ago Crypto lender Polter Finance halts operations after $12M hack Arijit Sarkar Arijit Sarkar 2 hours ago Crypto lender Polter Finance halts operations after $12M hack
Radiant Capital hacker moves $52M in stolen funds Radiant Capital hacker moves $52M in stolen funds
Tesla likely still owns $780M in Bitcoin despite recent shuffle: Arkham Tesla likely still owns $780M in Bitcoin despite recent shuffle: Arkham
Latest News More More
12 Hours Ago 0xbow unveils ‘Privacy Pools,’ a new blockchain privacy tool drawing from Vitalik Buterin’s research
5 Days Ago Ethereum edges closer to deploying Pectra on mainnet with successful upgrade on Hoodi testnet
5 Days Ago MEXC Extends DEX+ Platform to Binance Smart Chain Users
March 25 Binance suspends employee for allegedly profiting off of insider information
March 25 BlackRock launches bitcoin ETP in Europe following US success
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open