Appreciate the clarity in outlining an updated strategy here. Enabling a financial platform for various lending business is a compelling approach. Agree that focusing on private credit to become the “operating system for lending” (within private credit) makes sense. As stated in the post, the biggest piece moving ahead will be creating trust around the entirety of the platform, which will have different businesses building on it. How do you QC all of these businesses to build platform trust? Any ideas as to how to build a system that enforces the same thresholds for quality? Some of the things I’m thinking about:
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For the robo-advisor in step one, how often does private credit need to be re-balanced? Will there be a focus on (very) short-term lending? Will this look like a fintech app with crypto rails underneath, building on the DeFi for the World UX? Also curious how the private credit positions will be represented on-chain.
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For step two, it seems like the idea is to let individual lenders control their fee, enable growth, and then focus on protocol fees much later post-growth. This clears out an early obstacle (high fees) to joining, but what do you anticipate the other main drivers will be for lending businesses to come build on Goldfinch? Access to investment? What specific measures do you all envision will lower costs for infrastructure? Will socializing costs across many businesses help?
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On the ecosystem of products and services: this becomes successful if incentives are not required to build on top of Goldfinch – teams build only because it’s a business opportunity and they can make money. Creating an early pipeline to teams doing this on other DeFi protocols could be helpful here long-term.