Summary:
We propose separating the online real estate for the Goldfinch Foundation from the Warbler Labs branded robo-advisor product. This will mean a dedicated website for the Goldfinch Foundation at goldfinch.foundation and twitter handle at @goldfinch_fnd, and Warbler Labs will use its goldfinch.finance domain and @goldfinch_fi twitter handle for its branded robo-advisor product as laid out in the Blueprint for Goldfinch.
Motivation :
We believe that for Warbler’s robo-advisor business to have the best chance of success — which ultimately benefits the Goldfinch community — Warbler should use its goldfinch.finance domain and @goldfinch_fi twitter handle for this new product.
Further, because it’s important under the new [Blueprint] idea for there to be a separation between the branded businesses building on top of Goldfinch and the community itself (via the Foundation), we think it therefore makes sense for the Foundation to have its own dedicated website and handle, goldfinch.foundation and @goldfinch_fnd on twitter.
Specification & Requirements :
The Goldfinch Foundation will own and operate the goldfinch.foundation website and @goldfinch_fdn twitter account, and these will be used for all things related to the Goldfinch community (ie. github, discord, discourse, snapshot, etc.). We propose that community mods operate these.
Going forward, Warbler Labs will use its goldfinch.finance domain and @goldfinch_fi twitter handle for its robo-advisor business.
The existing app (currently available at app.goldfinch.finance) will be hosted by the Foundation on the Foundation’s website (eg. app.goldfinch.foundation). We’ll make sure goldfinch.finance site point users to this to help avoid confusion.
Benefits :
Gives Warbler Labs the best chance of success for the new robo advisor product, which ultimately benefits the Goldfinch community
Downside :
Potentially some confusion for people who go to goldfinch.finance looking for the old site and app. We can mitigate this by having goldfinch.finance link to the new Foundation site, as well as by email existing users about the change and having community managers help proactively answer people’s questions.
Voting :
“Yes” - The Goldfinch Foundation and community use goldfinch.foundation and @goldfinch_fnd on Twitter. Warbler uses goldfinch.finance and @goldfinch_fi for its robo-advisor.
In the context of the coming changes, this move seems like the right thing to do. I will vote “Yes”. I am also confident that we will be able to provide all the necessary information to the community in a timely manner, minimizing any possible confusion
Looking at the downside of this initiative from another perspective, one could assume that there would be even more confusion if this separation hadn’t been proposed, considering all future updates. I also think it’s something we can get used to quickly, as it’s just logical.
Could you guys please explain what does Robo Advisor actually do? I read it before that it is an advisor for private credit. But does it mean it will ask a bunch of questions and propose a borrower pool on Goldfinch that will fit the user requirements? Does it deal with only pools on Goldfinch or on some other apps or protocols too? Which blockchains will it get information from? How will Goldfinch, and Goldfinch token benefit from Robo Advisor? Will Goldfinch token have any utility with respect to the Robo Advisor? Will token holders have any benefits with respect to it? Will the revenue from Robo Advisor be shared into the membership pools by any chance?
It would be useful to understand the product if you could provide more information.
Also, is there no way we can just have a separate tab or a separate section for the Robo Advisor on app.goldfinch.finance instead of creating a complete separate website?
Hey @velvetdoctor , thanks for all the good questions. Let me go through them…
What will it do? → It will ask a few questions up front, and then recommend a private credit investment strategy to the user. At that point, the user can invest USDC into a smart contract that will then automatically be invested in various onchain deals. Over time, their money will keep getting re-invested and re-allocated automatically to new deals that fit within their strategy.
Will it recommend deals only on Goldfinch? What about other protocols? → It will only recommend deals that are on Goldfinch. But the Warbler Team may choose to bring on deals that were originated elsewhere. So perhaps a more accurate way to say it is, all deals will be represented using a Goldfinch pool. We will not automatically invest in other pools on other protocols.
What chain will information be on? → Assuming the L2 proposal passes, then all deals and information will be on Base
How will Goldfinch and Goldfinch token benefit? → All revenues will still be onchain, and flowing through canonical Goldfinch smart contracts. So the TVL, number of users, and all the stats of Goldfinch will go up. It will also provide revenue to Warbler Labs, which has been and will continue to support the Goldfinch protocol, to keep improving it. And perhaps most importantly, it will be proving out how lending businesses can use the Goldfinch protocol to successfully run their own business. Which will create a blueprint for others to follow (and ideally lead to other businesses building on top of Goldfinch). At this time, revenue from the robo advisor will not be shared into the membership pools. But according to the snapshot that just passed, fee switches will be built in, such that the community could, in theory, choose to take a portion of revenue in the future, and then do what they wish with it.
Could we just have a separate tab? → The whole point of allowing separate lending businesses to run their own instance of the protocol is to allow for full control over branding and UX. So they should be separate. That said, I think the current app could point towards the robo advisor, and vice versa (the robo advisor could point towards the current app). But they would be links, and not the same app.
I hope that helps clarify things. We will be releasing more info soon!
That’s awesome! Thanks a lot for the detailed explanation @blakewest ! Appreciate it. I will vote “Yes” to the proposal whenever it comes for voting. Thanks!
As has already been discussed in previous proposals, some changes and innovations are needed to give a “breath of fresh air” to the development of the Goldfinch ecosystem. The introduction of a robo-advisor could actually have a positive impact on Goldfinch.
But personally, I think it’s better to leave the goldfinch.finance address to the Goldfinch protocol. Otherwise, existing Goldfinch users may be confused with different addresses. In addition, you can come up with a more “talking” address for the robo-advisor.
But, in any case, the team has the most complete information, and if the community believes that a change of address is necessary, I vote “YES”.
@velvetdoctor asked very good questions, to which @blakewest gave comprehensive answers. Great!
I’m also interested in what algorithms the robo-advisor will be based on: