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Description
The protocol enables cryptocurrency loans without requiring any crypto assets as collateral. This innovation is the crucial element that finally makes crypto lending accessible to a larger segment of the global population. Through the Goldfinch community, loans are provided to businesses around the globe, particularly focusing on emerging markets. Goldfinch aims to broaden the availability of capital in these regions, where cryptocurrencies can significantly advance financial inclusivity. By utilizing the concept of trust built through consensus, the Goldfinch protocol allows borrowers to demonstrate their creditworthiness based on the shared evaluations of other users, rather than relying solely on their cryptocurrency holdings. This collective evaluation serves as a key indicator for the automatic distribution of funds. By eliminating the necessity for crypto collateral and offering a means for generating passive income, the protocol significantly increases the number of potential borrowers able to access cryptocurrency solutions, as well as the array of capital providers seeking investment opportunities. Ultimately, this model fosters a more inclusive financial ecosystem that benefits a diverse range of participants.
Description
You can use your NFT assets as collateral to secure a loan or lend to others using their non-fungible tokens. Any ERC-721 token can be utilized for this collateralization process, allowing other users the opportunity to provide you with a loan. Upon accepting a loan, the funds in ETH will be disbursed from the lender's account directly to you, while your NFT will be securely locked within an NFTfi smart contract. Once you fulfill your repayment obligations, the asset will be returned to your possession. However, if you fail to repay the total amount by the specified due date, the NFT will be transferred to the lender. Engaging in providing small, short-term loans to others can yield enticing returns, but it is crucial to thoroughly understand the assets involved in lending and to be prepared to accept the collateral in case of default by the borrower. Additionally, assessing the risks associated with each loan will help you make informed decisions about your investments.
API Access
Has API
No
API Access
Has API
No
Pricing Details
No price information available.
Free Trial
No
Free Version
No
Pricing Details
No price information available.
Free Trial
No
Free Version
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
No
Mac
No
Linux
No
Chromebook
No
Deployment
Web-Based
Yes
On-Premises
No
iPhone App
No
iPad App
No
Android App
No
Windows
No
Mac
No
Linux
No
Chromebook
No
Customer Support
Business Hours
No
Live Rep (24/7)
No
Online Support
Yes
Customer Support
Business Hours
No
Live Rep (24/7)
No
Online Support
Yes
Types of Training
Training Docs
Yes
Webinars
No
Live Training (Online)
No
In Person
No
Types of Training
Training Docs
No
Webinars
No
Live Training (Online)
No
In Person
No
Vendor Details
Company Name
Goldfinch
Website
goldfinch.finance/
Vendor Details
Company Name
NFTfi
Founded
2020
Country
South Africa
Website
nftfi.com