Lenders deposit funds into Goldfinch and receive interest payments from borrowers.

Goldfinch is a non-custodial lending protocol built on Ethereum. Goldfinch was founded by Blake West and Michael Sall and launched in 2020.

GFI token holders own and govern the protocol. They currently take a cut of the interest and a withdrawal fee (revenue). Goldfinch’s investors include a16z, Coinbase ventures, Kindred ventures etc.

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Lending

Goldfinch

# Goldfinch Revenue Methodology

## 1. Overview

Goldfinch revenue measures the total daily fees collected by the Goldfinch lending protocol from its various credit pools and withdrawal mechanisms. This metric captures the protocol's fee income from both individual credit pool operations (v1 and v2) and senior pool withdrawal fees, providing a comprehensive view of Goldfinch's revenue generation from its lending business activities.

## 2. Data sources

- **Goldfinch v1 events**: Parsed `ReserveFundsCollected` events from Goldfinch v1 Pool contracts on Ethereum, capturing fees collected from individual credit pools in the original protocol version
- **Goldfinch v2 events**: Parsed `ReserveFundsCollected` events from Goldfinch v2 TranchedPool contracts on Ethereum, capturing fees from individual credit pools in the updated protocol version
- **Senior pool events**: Parsed `ReserveFundsCollected` events from Goldfinch v2 SeniorPool contract on Ethereum, capturing withdrawal fees from the senior pool mechanism
- **Token price data**: End-of-day USDC price feeds for USD conversion
- **Token metadata**: USDC token metadata including decimal precision information for proper amount conversion

## 3. Step-by-step calculation

### Component A: Individual credit pool reserve collections
- **Purpose**: Captures fees collected from individual Goldfinch credit pools across both v1 and v2 protocol versions
- **Logic**: Extracts `ReserveFundsCollected` events from Goldfinch v1 Pool contracts and v2 TranchedPool contracts on Ethereum. Each event contains the contract address, block timestamp, transaction details, and fee amount. The `amount` field represents USDC tokens collected as fees. Events are deduplicated using block timestamp, transaction hash, and log index combination. Each event is tagged with its protocol version (v1 or v2) and standardized with USDC token metadata
- **Key fields**: `block_timestamp` for timing, `account_address` for the credit pool contract, `amount` for fee collection amount in USDC, `transaction_hash` and `log_index` for event identification

### Component B: Senior pool withdrawal fees  
- **Purpose**: Captures withdrawal fees collected by the Goldfinch v2 senior pool contract
- **Logic**: Extracts `ReserveFundsCollected` events specifically from the Goldfinch v2 SeniorPool contract on Ethereum. These events represent fees charged when users withdraw funds from the senior pool. Events follow the same structure as credit pool collections but originate from the centralized senior pool mechanism rather than individual credit pools. All withdrawal fees are denominated in USDC tokens
- **Key fields**: `block_timestamp` for timing, `account_address` for the senior pool contract, `amount` for withdrawal fee amount in USDC, event identification fields for deduplication

### Component C: Credit pool name enrichment
- **Purpose**: Maps credit pool contract addresses to human-readable pool names for better identification
- **Logic**: Joins revenue events with a dimension table containing mappings from contract addresses to descriptive names. This includes pools like Almavest baskets, Aspire pools, Cauris, Divibank, Lend East, Payjoy, Quickcheck, and other borrower-specific pools. Unknown contract addresses that don't match the mapping are labeled as 'Unknown'. This enrichment helps identify which specific credit pools or mechanisms generated each fee
- **Key fields**: `account_address` for matching contracts, `account_title` for descriptive pool names

### Final aggregation
- **Combining components**: Reserve collections from individual credit pools and senior pool withdrawal fees are unioned into a single dataset, maintaining their respective source identification and version tags
- **Currency conversion**: Raw USDC token amounts are converted to proper decimal representation by adjusting for USDC's 6-decimal precision, then converted to USD values using end-of-day USDC price feeds
- **Time aggregation**: Block timestamps are truncated to daily boundaries using day-level truncation, aggregating all fees collected within each calendar day
- **Final calculation**: Daily revenue equals the sum of all USD-converted fee amounts collected on that day across all Goldfinch credit pools and withdrawal mechanisms, classified under the 'Lending' business line and market sector, with missing days filled with zero values to ensure complete time series coverage

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

fees * take_rate (illustrative — revenue is observed directly per project, not derived from take_rate)

Fee revenue retained after supply-side payouts. Before cost of revenue (e.g. L2 DA fees) and before operating expenses.

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