Bankless

3rd Week of June 2021

------ BANKLESS SPONSOR TOOLS:

💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini 

🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer 

👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave 

🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap 

------ 📣 LEDGER | START YOUR CRYPTO JOURNEY http://bankless.cc/LedgerYT  ------

Topics Covered:

0:00 Intro

2:10 MARKETS 2:13 BTC Price 4:30 ETH Price 6:05 ETH / BTC Ratio 7:02 ETH in Smart Contracts https://twitter.com/sassal0x/status/1404101807798845442?s=20  10:00 DeFi Action  12:00 Index Coop Revenue https://twitter.com/BigSky_7/status/1405193562329739266?s=20  Org Structure: https://twitter.com/pet3rpan_/status/1403740789562232832?s=20  14:18 BTC in Lightning Network https://www.theblockcrypto.com/linked/108718/bitcoin-lightning-network-capacity-accelerates-to-1500-btc  Lightning Twitter: https://thecryptobasic.com/2021/06/11/twitter-or-bluesky-may-soon-integrate-btc-lightning-networ/  19:40 Bearish UNI Fee Accrual? https://twitter.com/cartesian99/status/1403998240555606016?s=20  26:00 90% Aren’t Scared Meme: https://memegenerator.net/img/instances/78099137.jpg 

28:00 RELEASES 29:30 Metamask Institutional https://twitter.com/mminstitutional/status/1403064969575514116?s=21  31:25 Alchemix Release: https://alchemixfi.medium.com/behold-aleth-90d750889fd8  Incident: https://twitter.com/AlchemixFi/status/1405187348678148101?s=20  Post-Mortem: https://forum.alchemix.fi/public/d/137-incident-report-06162021  34:40 BED Index https://twitter.com/Crypto_Texan/status/1404422145191649284  38:11 Lyra https://twitter.com/lyrafinance/status/1404589635867615233?s=20  40:37 Ernst & Young on Polygon https://twitter.com/pbrody/status/1404753341738070016  41:07 Volmex Finance https://twitter.com/volmexfinance/status/1405176261262004230  41:54 Gitcoin Round 10 https://twitter.com/gitcoin/status/1404589721863393286?s=20  44:00 Alexandra Botez ETH https://twitter.com/alexandravbotez/status/1404896176479117315?s=20  44:55 Other Releases MATIC on dYdX https://twitter.com/dydxprotocol/status/1404490781369552900?s=20  USDC on Arbitrum https://twitter.com/petejkim/status/1405300436970741760  Cream on Arbitrum https://twitter.com/creamdotfinance/status/1404815692352954371?s=21  Parcel DAO Treasury Management https://twitter.com/parcelHQ/status/1403433529023684611  Yearn Facelift? https://twitter.com/AntonNellCrypto/status/1403650531575349249?s=20 

46:44 NEWS 46:54 Bitwise $70m Raise https://www.theblockcrypto.com/post/108421/bitwise-raises-70-million-from-new-wall-street-investors-including-henry-kravis-and-dan-loeb  48:23 Polygon Full Blocks https://polygonscan.com/chart/gasused  52:13 Cuban Tracker: Titan https://twitter.com/ChainLinkGod/status/1405319238701633537?s=20  58:00 InstaDapp $10m Raise https://www.theblockcrypto.com/linked/108224/defi-startup-instadapp-raises-10-million-in-new-funding  58:22 Goldman Sachs ETH Futures https://www.theblockcrypto.com/linked/108364/goldman-sachs-ether-derivatives-plans-bloomberg  58:45 dYdX $65m Raise https://twitter.com/dydxprotocol/status/1404818923103600643?s=21  59:16 PleasrDAO Wins Again https://twitter.com/PleasrDAO/status/1403403494669832194?s=20  1:02:52 World Bank Rejects El Salvador https://www.theblockcrypto.com/linked/108682/world-bank-rejects-el-salvador-bitcoin-request  1:03:36 Paul Tudor Jones https://blockworks.co/paul-tudor-jones-likes-bitcoin-as-portfolio-diversifier/?oly_enc_id=9918E2523689A0T  Meme: https://imgur.com/cxkPv14  1:05:05 Microstrategy https://www.theblockcrypto.com/linked/108399/microstrategy-stock-offering-filing-bitcoin  1:06:30 Coinbase Lists SHIB https://twitter.com/sassal0x/status/1404848247139565576  1:10:33 State Street Crypto https://www.cnbc.com/2021/06/10/state-street-is-creating-a-dedicated-cryptocurrency-division.html  1:10:45 Millennial Millionaires https://bitcoinexchangeguide.com/more-than-a-third-of-millennial-millionaires-have-at-least-50-of-their-wealth-in-crypto-survey/  1:12:19 Panama Crypto Bill? https://www.coindesk.com/panama-to-present-crypto-related-bill-in-july?amp=1 

1:13:30 TAKES 1:14:30 MEV Goes to Stakers https://hackmd.io/@flashbots/mev-in-eth2  1:17:30 Under or Overvalued https://twitter.com/fintechfrank/status/1404587101807644674?s=21  1:19:05 Accumulating Friends https://twitter.com/owocki/status/1403405238179008513?s=20  1:20:33 Crypto Twitter is new Wall St https://twitter.com/rasterlyrock/status/1405548074420772868?s=21 

1:21:50 What David’s Excited About San Diego: https://www.meetup.com/meetup-group-dgdwuehn/ 

1:23:45 What Ryan’s Excited About

1:25:45 MEME(s) of the Week Star Trek: https://twitter.com/banklesshq/status/1405564845395628032?s=21 

1:28:09 Closing & Disclaimers

----- Not financial or tax advice. Do your own research. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 

3rd Week of June 2021

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BANKLESS SPONSOR TOOLS:

Last week, El Salvador announced that Bitcoin would be accepted as Legal Tender. We bring on our favorite Bitcoiner Nic Carter to the State of the Nation to discuss this monumental historical event -- a nation-state officially recognizing Bitcoin as a currency.

------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS:

💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini 

🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer 

👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave 

🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap 

------ 📣 LEDGER | START YOUR CRYPTO JOURNEY http://bankless.cc/LedgerYT  -----

State of the Nation #50: El Salvador Adopting Bitcoin Guest: Nic Carter

Nic Carter, recently verified on Twitter, is a partner at Castle Island and 4-time guest on Bankless. In 2021, Nic has spent much of his time dispelling the common myths frequently pointed at Bitcoin by the mainstream media, and he has been a general in the Green Energy war taking place around Bitcoin.

Last week, Nic started a Twitter Space to discuss El Salvador adopting Bitcoin as legal tender, a historic moment for crypto. Nayib Bukele, the President of El Salvador, joined the Space as the El Salvadorian congress ratified the bill. This twitter space ultimately garnered over 20,000 listeners, including some of the biggest names in crypto. Bukele showed himself to be savvy with both tech and social media, earning his label as a populist.

This is a pivotal time for cryptocurrency. The news from El Salvador bring up increasingly important questions like the relationship between nation-states and digital value. There are a variety of motives for El Salvador to adopt Bitcoin including lessening dependence on US monetary policy, as the Dollar was previously the sole currency of the country.

What does it mean for a country to adopt a cryptocurrency? Is Bitcoin being used for its 'intended purpose?' Is this a populist reprisal? Do these events represent a rejection of the Cantillon effect, and a move against the monetary hierarchy of capital gains taxes? In this State of the Nation, we cover these questions and more as we digest this monumental news and figure out what to make of it.

------ Resources:

Nic on Twitter: https://twitter.com/nic__carter?s=20  Castle Island: https://www.castleisland.vc/  Nic's Podcast, On the Brink: https://onthebrink-podcast.com/  Crypto-Fiat Mutualistic or Parasitic: https://newsletter.banklesshq.com/p/crypto-fiat-mutualistic-or-parasitic  Bitcoin Beach: https://www.bitcoinbeach.com/ 

----- Topics Covered:

0:00 Intro 8:30 Nic Carter, Global Diplomat 10:18 Does El Salvador Change Everything? 15:43 Capital Gains 20:24 President Nayib Bukele 26:04 Is this good for El Salvador? 34:55 Lightning Network 40:15 Custodial Bitcoin 43:10 Bitcoin's Biggest Test 52:13 The First Domino to Fall 58:01 Is This Freedom or Coercion? 1:03:27 Pumping their own Bags 1:09:23 Authoritarian Populism 1:15:03 Gateway to DeFi 1:18:30 Physical vs. Digital 1:21:20 Consequences 1:23:54 Closing & Disclaimers

----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 

Last week, El Salvador announced that Bitcoin would be accepted as Legal Tender. We bring on our favorite Bitcoiner Nic Carter to the State of the Nation to discuss this monumental historical event -- a nation-state officially recognizing Bitcoin as a currency.

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Bitcoiner Preston Pysh joins the Bankless Podcast to discuss Bitcoin and Ethereum and prove that there are high level conversations to be had between the two communities.

------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  🎧 Get this Episode's Debrief: https://shows.banklesshq.com/p/exclusive-debrief-asking-the-questions  ------ BANKLESS SPONSOR TOOLS:

💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini 

🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask 

🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap 

🔀 KWENTA | EXCHANGE SYNTHETIC ASSETS https://bankless.cc/kwenta 

------ Topics Covered:

0:00 Intro 5:50 Preston Pysh 8:17 Macro Value Investing 16:32 Moving to Bitcoin 21:22 The Last Free Market 26:13 Decentralized & P2P 29:32 Misconceptions 37:05 DeFi and Execution Risk 40:55 Ethereum Concerns 45:00 ETH’s Price Action 49:20 Protocol Consensus 53:54 Nodes 1:00:55 Work Vs. Stake 1:10:30 Clean Energy & Halvings 1:19:00 Issuance & EIP-1559 1:28:45 Currency and Blockspace 1:34:43 Risk-on vs Risk-off 1:38:24 Decentralized Finance 1:52:30 Preston Pitches ETH 1:56:06 David & Ryan Pitch BTC 2:00:40 On the Same Team 2:04:46 Closing & Disclaimers

------ Resources:

Preston on Twitter: https://twitter.com/PrestonPysh?s=20 

The Investor’s Podcast Network: https://www.theinvestorspodcast.com/ 

Bitcoin Fundamentals: https://www.theinvestorspodcast.com/bitcoin-fundamentals/ 

Bitcoin & Bonds with Greg Foss: https://www.theinvestorspodcast.com/bitcoin-fundamentals/bitcoin-and-bonds-greg-foss/ 

----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 

Bitcoiner Preston Pysh joins the Bankless Podcast to discuss Bitcoin and Ethereum and prove that there are high level conversations to be had between the two communities.

------

Download the crypto meta to your brain in this weekly show.

4th Week of May, 2021

------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS:

💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini 

🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer 

👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave 

🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------

Topics Covered:

0:00 Intro

2:15 MARKETS 2:25 BTC Price Fear & Greed: https://twitter.com/BitcoinFear  4:48 ETH Price Fear & Greed: https://twitter.com/EthereumFear/status/1402566188144726021?s=20  7:47 ETH/BTC Ratio Episode w/ Ledger: https://shows.banklesshq.com/p/-sotn-49-the-state-of-the-charts  8:57 DeFi Action 12:08 Cooldown https://twitter.com/joel_john95/status/1402177944001269760?s=20  15:49 NFT Bubble https://protos.com/nft-market-bubble-popped-crypto-collectibles-are-over/  18:39 ETH Trading Volume https://twitter.com/RyanSAdams/status/1402240262911496192?s=20  20:10 DeFi Lending Protocols https://twitter.com/tokenterminal/status/1401901076903776260?s=20 

22:00 RELEASES 24:00 Uniswap V3 on Arbitrum https://twitter.com/Uniswap/status/1400847744596598792?s=20  27:45 Graph Protocol on Arbitrum https://twitter.com/arbitrum/status/1402023407609421830?s=20  28:11 Uniswap V3 Calculator https://uniswapv3.flipsidecrypto.com/  34:33 Curve Volatility Algorithm https://twitter.com/curvefinance/status/1402673150425509890?s=21  37:00 Polygon Polygon Scan: https://twitter.com/0xPolygon/status/1402590551619162116  HopProtocol: https://twitter.com/HopProtocol/status/1397983455821041664  OKEx Withdrawals: https://twitter.com/OKEx/status/1402630589551890436  Matcha Aggregator: https://twitter.com/matchaxyz/status/1402645756834553864 

42:45 NEWS 42:55 El Salvador The Bill: https://twitter.com/nayibbukele/status/1402446890466217985?s=20  Thread: https://twitter.com/CaitlinLong_/status/1401334421773504517?s=20  Volcano Mining: https://twitter.com/jack/status/1402773957653241861?s=20  1:02:25 NFTs on Aave https://metaversal.banklesshq.com/p/nfts-are-coming-to-aave  1:04:09 Bitcoin Ransomware Attacks FBI Recovers: https://twitter.com/ericgeller/status/1401973177346109443?s=20  $11M Payment: https://www.coindesk.com/ransomware-jbs-holdings-meat-producer  1:07:25 Microstrategy BTC Bond https://twitter.com/Blockworks_/status/1401881368355876868?s=20  1:13:22 Elizabeth Warren https://twitter.com/senwarren/status/1402725005113364486?s=21  Knives Out: https://twitter.com/nic__carter/status/1402755502715645953?s=20  1:20:55 Quick News Takes IRS: https://www.theblockcrypto.com/post/107590/irs-seeks-millions-in-fresh-funding-to-expand-crypto-tax-enforcement-and-hire-outside-experts  CFTC: https://www.theblockcrypto.com/linked/107769/cftc-commissioner-criticizes-defi-decries-lack-of-intermediaries  Consumer Inflation: https://www.usinflationcalculator.com/inflation/current-inflation-rates/  Amazon DeFi: https://twitter.com/CoinDesk/status/1402223350563344385?s=19  BlockFi Raise: https://twitter.com/fintechfrank/status/1402344595279822853?s=20  Ledger Raise: https://www.theblockcrypto.com/post/107775/ledger-380-million-series-c-raise-dan-tapiero-10t-fund  Solana Raise: https://www.theblockcrypto.com/post/107749/solana-labs-raises-314-million-funding-a16z-polychain-capital  Coinbase 401k: https://www.theblockcrypto.com/post/108034/coinbase-forusall-401k-advisor-crypto-retirement-accounts 

1:24:30 TAKES 1:25:20 New Vision for Crypto https://twitter.com/TheStalwart/status/1401842475564687361  1:27:30 Gen Z is Coming https://twitter.com/ryansadams/status/1402462536419753985?s=21  1:29:25 Single-Sign On https://twitter.com/BrantlyMillegan/status/1402388133086367751  1:31:14 BTC Physical, ETH Digital 1:34:09 Listener Question

1:36:25 What David’s Excited About 1:38:22 What Ryan’s Excited About Panel: https://www.youtube.com/watch?v=9mUCFRu4fkk 

1:40:50 MEME OF THE WEEK https://www.reddit.com/r/ethtrader/comments/nvojaa/this_is_exactly_why_i_want_to_go_bankless/ 

----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 

Download the crypto meta to your brain in this weekly show.

4th Week of May, 2021

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In this special episode of Bankless, we bring on some of the best minds in the space to discuss where DeFi is and where we're headed.

------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS:

💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini 

🦊 METAMASK | DEFI PASSPORT https://bankless.cc/metamask 

🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap 

🔀 KWENTA | EXCHANGE SYNTHETIC ASSETS https://bankless.cc/kwenta  ------ The Current State of DeFi Panel: Vance Spencer, Santiago Santos, and Spencer Noon

It feels like we're living out a crucial moment in the story of Decentralized Finance. A variety of perspectives will collectively yield that we are at a tipping point, from a macro and micro standpoint. As we witness the emergence of a new technological ecosystem, the stakes and implications are ever increasing. Thus it only makes sense to bring on a panel of some of DeFi's smartest minds to hold a summit on where we are and where we're heading.

This panel comprised of Santiago Santos of Parafi Capital, Vance Spencer of Framework Ventures, and Spencer Noon of the Variant Fund. In broad terms, DeFi refers to open, blockchain-based finance. The root of this stack consists of primitive financial services – the money verbs like borrowing, lending, trading, escrow, etc. It involves programming smart contracts to execute logic that transfers value on the blockchain. Within these parameters, there is infinite expressivity and room to explore.

The internet of value has set itself up to be a game of optimizing capital efficiency through logic. The winners of this game will be the protocols, apps, individuals, and institutions that minimize counterparty risk while maximizing anti-fragility and resilience. The key here is finding ways to balance the values of consumer agency and protection with the power of capital efficiency. Maximalism and absolutes will be pushed to the margin as the realities of tradeoffs become increasingly apparent.

DeFi, despite its youth, has shown itself to be resilient and deeply anti-fragile. Good logic doesn't break. As it matures, the growth and depth of DeFi infrastructure will demonstrably contribute to its Lindy effect. The total addressable market (TAM) of this ecosystem difficult to quantify, as it is a non-zero game that currently encapsulates the entire global economy at present. Conversations like these should leave an informed viewer feeling optimistic, inspired, and determined to face the obstacles ahead with resolve and conviction.

------ Resources:

Vance on Twitter: https://twitter.com/pythianism?s=20 

Santiago on Twitter: https://twitter.com/santiagoroel?s=20 

Spencer on Twitter: https://twitter.com/spencernoon?s=20 

------ Topics Covered:

0:00 Intro 4:00 Santiago, Vance, and Spencer 5:40 What is DeFi? 12:01 Can't Be Evil 17:10 Total Addressable Market 20:39 DeFi Eating the World 24:50 Capitulating Institutions 31:26 Regulatory Winter 34:39 Stablecoins and Yield 44:36 El Salvador & Usability 49:30 Uniswap V3 57:51 Layer 2 Madness 1:05:21 Being About That Life 1:09:10 Closing & Disclaimers

----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 

In this special episode of Bankless, we bring on some of the best minds in the space to discuss where DeFi is and where we're headed.

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