Since this is the first precedent in the 2-year history of Goldfinch, the GIP makes sense to maintain the attractiveness of the protocol’s yield-bearing instruments, even though there isn’t enough data to analyze the likelihood of recurrence.
In a situation where there’s no new precedent significantly impacting LPs (it’s worth noting that there aren’t many counterparties whose borrowings are 100% collateralized by the senior tranche’s liquidity), Goldfinch certainly remains in a favorable position. Therefore, I’ll be voting for Yes.
// Yes.