Gravity Finance

Gravity Finance (GFI)

Full information about Gravity Finance (GFI). Current Gravity Finance price in GGP, GFI open/close rates, Gravity Finance history charts, Gravity Finance market capitalization and volume.

1 GFI = 0.000270 GGP Guernsey Pound (GGP)
0.0003632 GGP

Last updated: 2024-10-01 01:41:00 UTC - about 1 year ago 1 USD = 0.743872 GGP

General information
Global rank:2318
Name: Gravity Finance Gravity Finance
Symbol:GFI
Current coin price (GGP):0.000270 GGP
Last hour:arrow_upward0.000000 %
Last 24 hours:arrow_downward-1.03 %
Last 7 days:1.64 %trending_up
Capitalisation (GGP):95 179.91 GGP
Volume 24h (GGP):55.05 GGP
Available supply:352 267 212.00 GFI
Total coin supply:-1 GFI
Start date:2021-10-22
Last updated: 2024-10-01 01:41:00 UTC - about 1 year ago

Gravity Finance/Guernsey Pound (GFI/GGP) price chart

Gravity Finance/Guernsey Pound (GFI/GGP) capitalisation and volume charts

What is Goldfinch (GFI)?

Goldfinch is a decentralised credit protocol that seeks to revolutionise how credit activities are conducted globally. Its mission is to migrate the world's credit activities onto blockchain technology, thereby enhancing access to capital and promoting financial inclusion internationally.

What is used for?

Goldfinch offers cryptocurrency loans without the need for crypto collateral, a common stumbling block in traditional crypto lending. This approach democratises access to cryptocurrency capital for a wider global audience. The protocol employs a 'trust through consensus' principle, enabling borrowers to prove their creditworthiness based on the collective assessment of other participants, as opposed to the typical requirement for over-collateralising with crypto assets. This method provides the foundation for an immutable, on-chain credit history, an essential element for any scalable lending model, especially in developing markets.

Core Functions of GFI Token

  • Community Governance: Holders of the GFI token can partake in governance decisions, influencing the future direction of the protocol.
  • Participant Incentives: Participants receive ongoing rewards to encourage their involvement, including liquidity mining for those providing liquidity to the Senior Pool.
  • Community Grants: The protocol awards grants and bounties to those who contribute significantly to the advancement of the Goldfinch protocol and ecosystem.
  • Backer Staking: Backers can stake GFI tokens to support other Backers in Borrower Pools, enhancing their leverage and providing a buffer against loan defaults.
  • Auditor Votes: GFI tokens are used by auditors to vote on granting borrowers permission to borrow from the protocol.
  • Auditor Staking: Auditors stake GFI tokens to be eligible for participation in the voting process.

Who Created Goldfinch (GFI)?

Goldfinch was founded in 2020 by Blake West and Michael Sall, who aimed to transform the digital lending and borrowing landscape through the application of blockchain technology.