Galaxy Digital has introduced the Galaxy Onchain Financing Rate (GOFR), a managed lending program designed to provide institutional and accredited investors with structured access to onchain credit markets through a single lending counterparty. The initiative allows clients to borrow directly from Galaxy under an optimized financing rate model, while the company assumes responsibility for managing associated lending activities.
GOFR is backed initially by up to $100 million of Galaxy’s own capital, which will serve as first-loss protection. The program targets institutions, high-net-worth individuals, and accredited investors, offering loan structures with flexible terms and a minimum borrowing size of $1 million.
The platform combines financing rates from several major onchain lending protocols, including Aave, Morpho, Spark, and Kamino, into a single rate that is continuously adjusted based on market conditions. Through this structure, clients interact only with Galaxy rather than individual decentralized protocols. The company manages execution, position servicing, collateral oversight, and risk monitoring, while automated safeguards are designed to limit new deployments if predefined risk levels are exceeded.
Galaxy also enables counterparties to use native bitcoin as collateral without requiring users to independently convert or bridge assets into other formats. The company manages the asset conversion process, aiming to simplify participation in onchain lending markets and reduce operational complexity.
As part of the launch, Galaxy has published the GOFR rate as a public benchmark for institutional onchain financing activity. The reference rate provides daily indicative financing levels for USDC, USDT, and ETH, along with seven-day and 30-day average figures intended to support market transparency.
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