Bankless

Download the crypto meta to your brain in this weekly show. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ GO BANKLESS WITH THESE SPONSOR TOOLS:

⭐️ AAVE - BORROW OR LEND YOUR ASSETS https://bankless.cc/aave 

🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP https://bankless.cc/go-gemini 

💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith 

📈 KWENTA - DERIVATIVES TRADING WITH INFINITE LIQUIDITY https://bankless.cc/kwenta​  ------ 📣REGISTER FOR COINDESK CONSENSUS 2021 AND SAVE $20 W/ BANKLESS http://bankless.cc/consensus2021​  ------ MARKETS

BTC Price: $55k

ETH Price: Low-Mid 1800s Mostly

TVL in DeFi: $41.2B

$DPI: ~$450

MEV Dashboard https://explore.flashbots.net/ 

DeFi Undervalued? Coinbase vs. DeFi https://twitter.com/StaniKulechov/status/1369314364944244737?s=20 

Global Banking $6.2 Trillion, DeFi $85B https://twitter.com/0x_Lucas/status/1369808216490602498?s=20 

$3B valuation BlockFi: https://twitter.com/BlockFiZac/status/1370012146503929856?s=20 

DAOs With Treasury Reports https://twitter.com/Matthew_Graham_/status/1367521656927838209?s=20 

GBTC Trading 15% Below BTC Spot Prices https://www.coindesk.com/grayscale-halts-new-investments-in-gbtc-after-trading-at-15-below-bitcoin 

------ RELEASES

Send From Arbitrum to xDAI (Hop Protocol) https://twitter.com/HopProtocol/status/1367914160483299332?s=20 

Optimism Dai Bridge with Fast Withdrawals https://forum.makerdao.com/t/announcing-the-optimism-dai-bridge-with-fast-withdrawals/6938 

Superfluid https://twitter.com/superfluid_hq/status/1369676939913486337?s=21 

FEI Protocol https://www.coindesk.com/coinbase-naval-framework-ventures-19m-raise-fei-stablecoin 

------ NEWS

$1.9T Covid Relief Bill and $1400 Stimulus Checks https://www.nbcnews.com/politics/congress/senate-passes-1-9-trillion-covid-relief-bill-including-1-n1259795 

Fed Says Reopening Could Cause Inflation https://www.cnbc.com/2021/03/04/fed-chairman-powell-says-economic-reopening-could-cause-inflation-to-pick-up-temporarily.html 

EIP1559 Approved for London Hard Fork https://twitter.com/TimBeiko/status/1367858606889037824?s=20 

EIP1559 - Front Page of Bloomberg https://i.redd.it/hdgboaz8xml61.jpg 

ETH Miners Protesting EIP-1559 https://cointelegraph.com/news/ethereum-miners-plot-hash-power-show-of-force-against-eip-1559 

Meitu Buys $22M ETH, $17.9M BTC https://twitter.com/TrustlessState/status/1368639534770966537?s=20 

Beeple NFT $69M https://www.telegraph.co.uk/technology/2021/03/11/digital-artwork-snapped-69m-record-sale 

NFT Environmentalism https://joanielemercier.com/the-problem-of-cryptoart/ 

SuperRare Response https://medium.com/superrare/no-cryptoartists-arent-harming-the-planet-43182f72fc61 

US Lawmakers Introduce Crypto Bill https://www.coindesk.com/lawmakers-digital-asset-regulation 

Wyoming DAO Bill https://twitter.com/awrigh01/status/1369328856260354051?s=20  

NBA Top Shot Freezes Funds https://defited.medium.com/my-centralized-experience-dapper-3d3e3a99cbd7 

New Grayscale Job Postings - ETF? https://twitter.com/coindesk/status/1369451478428090369?s=21 

JPMorgan Crypto Proxy Basket https://www.coindesk.com/jpmorgan-to-launch-cryptocurrency-exposure-basket-of-bitcoin-proxy-stocks 

Logan Paul Sponsored Tweet Paid in SFI https://twitter.com/Buhlaque/status/1369149498098860041?s=20 

----- TAKES

Everything is Broken https://www.zerohedge.com/markets/mauldin-everything-broken 

Reinvesting in Crypto https://twitter.com/ryansadams/status/1368944228382965765?s=21 

Steinworld’s Ethspansion from Genesis https://twitter.com/takenstheorem/status/1351409209305305090?s=20 

Today Show Laughing About NFTs https://twitter.com/econoar/status/1369344244880527361?s=20 

----- MEME

L2 vs ETH Killers https://www.instagram.com/p/CMLVE2YAQQ2/ 

----- 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.
------

Justin Blau, known by his stage name 3LAU, is a DJ turned crypto-entrepreneur. At the end of February, he auctioned collectible NFTs for his 'Ultraviolet' album for a record-setting $11.7M.

We look under the hood of 3LAU's story, diving into what this means for crypto and the disruption of the music industry.

------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ GO BANKLESS WITH THESE SPONSOR TOOLS:

⭐️ AAVE - BORROW OR LEND YOUR ASSETS https://bankless.cc/aave 

🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP https://bankless.cc/go-gemini 

💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith 

📈 KWENTA - DERIVATIVES TRADING WITH INFINITE LIQUIDITY https://bankless.cc/kwenta​  ------ SotN #37: 3LAU | The Frontier of NFTs

Justin Blau, known by his stage-name 3LAU, has been experimenting in the crypto space since 2014. From February 25-28, he auctioned a total of 33 NFTs commemorating his album 'Ultraviolet', originally released in 2018. 3LAU discusses how he applied his knowledge of game theory to optimize the auction mechanism. The sales totaled $11.7M.

3LAU's biggest takeaway from all this is that the music industry is ripe for disruption. NFTs can remove intermediaries and bridge the gap between fans and creators. Transparent, immutable digital goods are increasingly accessible to the public. These tools promote direct-to-consumer transactions, democratization of data, and self-distribution.

The argument here is that given the technology of distributed ledgers, record labels are now obsolete. With an investable layer, fans are able to contribute capital and hold equity in an artist's work. 3LAU is pioneering how decentralized tokens can be optimized for medium-dependent art spaces. The future of art is decentralized, allowing infinite collaborative possibilities among fans and creators of all forms of media.

Justin on Twitter https://twitter.com/3LAU?s=20 

3LAU Website https://3lau.com/ 

3LAU NFT Auction https://nft.3lau.com/#/auction 

------ 📣REGISTER FOR COINDESK CONSENSUS 2021 AND SAVE $20 W/ BANKLESS http://bankless.cc/consensus2021​​  ------ CATCH UP ON BANKLESS:

🗞️ Weekly Rollup (3/5): https://shows.banklesshq.com/p/-rollup-3lau-and-grimes-nfts-paypal  🧢 Weekly Action Recap (3/6): https://newsletter.banklesshq.com/p/weekly-action-recap-177  📈 Market Monday (3/8): https://newsletter.banklesshq.com/p/eip-1559-on-the-horizon-market-monday  🎙️ Podcast | Bankless 2.0 (3/8): https://shows.banklesshq.com/p/-welcome-to-bankless-2021-edition  🐦 Follow Bankless on Twitter: https://twitter.com/BanklessHQ 

----- 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

Justin Blau, known by his stage name 3LAU, is a DJ turned crypto-entrepreneur. At the end of February, he auctioned collectible NFTs for his 'Ultraviolet' album for a record-setting $11.7M.

We look under the hood of 3LAU's story, diving into what this means for crypto and the disruption of the music industry.

------

Happy 1-year Anniversary to the Bankless Podcast! We sum up the show’s first nine episodes in this single canonical mega-podcast, updating our answers to the big questions – What Does It Mean To Go Bankless? What Is DeFi? How Do I Get started? ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ GO BANKLESS WITH THESE SPONSOR TOOLS:

⭐️ AAVE - BORROW OR LEND YOUR ASSETS https://bankless.cc/aave 

🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP https://bankless.cc/go-gemini 

💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith 

📈 KWENTA - DERIVATIVES TRADING WITH INFINITE LIQUIDITY https://bankless.cc/kwenta​ 

------ Topics Covered

I. Why Are We Going Bankless? (0:00 - 29:09)

• Need for Self-Sovereign Money
• Current Banking System is Corrupt

II. How Crypto Fixes Money (29:10 - 41:45)

• Protocols are Credibly Neutral
• Universally Accessible

III. Crypto As A Parallel Financial System (41:46 - 1:00:42)

• What is Money?
• Parallel Monies, Parallel Tech

IV. The Bankless Money Stack (1:00:43 - 2:11:30)

• BTC & ETH Value Propositions
• The DeFi Value Proposition

V. Why Crypto Is Inevitable (2:11:31 - 2:34:24)

• Game Theory & Gresham’s Law

VI. How To Get Started (2:34:25 - 2:48:10)

• Get Crypto Money
• Take Self-Custody
• Start Using DeFi

VII. The Journey West (2:48:11 - 2:59:38)

• Once-In-A-Lifetime Multi-Decades Event
• The Bankless Journey is Ambitious, Risky, and Highly Rewarding

------ Resources:

Guide to Going Bankless: https://newsletter.banklesshq.com/p/-guide-1-starting-with-bankless 

St. Louis Fed Report https://research.stlouisfed.org/publications/review/2021/02/05/decentralized-finance-on-blockchain-and-smart-contract-based-financial-markets 

Designing Ethereum | Vitalik Buterin https://www.youtube.com/watch?v=-R0j5AMUSzA&t=6522s&ab_channel=Bankless 

Episode #2: The Evolution of Monetary Policy https://shows.banklesshq.com/p/episode-2-the-evolution-of-monetary 

------ 📣REGISTER FOR COINDESK CONSENSUS 2021 AND SAVE $20 W/ BANKLESS: http://bankless.cc/consensus2021  ------ CATCH UP ON BANKLESS:

🗞️ Weekly Rollup (3/5): https://shows.banklesshq.com/p/-rollup-3lau-and-grimes-nfts-paypal  🧢 Weekly Action Recap (3/6): https://newsletter.banklesshq.com/p/weekly-action-recap-177  🐦 Follow Bankless on Twitter: https://twitter.com/BanklessHQ 

----- 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 

Happy 1-year Anniversary to the Bankless Podcast! We sum up the show’s first nine episodes in this single canonical mega-podcast, updating our answers to the big questions – What Does It Mean To Go Bankless? What Is DeFi? How Do I Get started?
------

Download the crypto meta to your brain in this weekly show. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ GO BANKLESS WITH THESE SPONSOR TOOLS:

⭐️ AAVE - BORROW OR LEND YOUR ASSETS https://bankless.cc/aave 

🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP https://bankless.cc/go-gemini 

💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith 

📱 DHARMA | MOBILE ONRAMP DIRECTLY INTO DEFI https://bankless.cc/dharma 

------ MARKETS

BTC Price $50-$52k

ETH Price $1500-$1600

TVL in DeFi $40B

DPI $420

NUPL https://studio.glassnode.com/metrics?a=ETH&category=&m=indicators.NetUnrealizedProfitLoss&mAvg=7&mMedian=0&zoom=all 

Bitwise DeFi Index Fund - $32.5m https://www.coindesk.com/bitwise-defi-index-fund-sec-filing-growth 

DeFi Revenue Chart https://www.theblockcrypto.com/data/decentralized-finance/protocol-revenue 

Grayscale Premiums https://twitter.com/rleshner/status/1365679532808806401?s=20 

------ RELEASES

Google Finance 'Crypto' tab https://www.google.com/finance 

zkSync Investing Round https://twitter.com/zksync/status/1366387870735495169?s=20 

Sushi going Multichain https://twitter.com/josephdelong/status/1367226781393166336?s=21 

Alpha On BinanceChain https://blog.alphafinance.io/alpha-homora-embraces-multi-chain-future-starting-with-binance-smart-chain-bsc/ 

MetaMask & Layer 2 https://twitter.com/MetaMask/status/1367229353046790146?s=20 

Zerion integrating Polychain https://twitter.com/zerion_io/status/1367528734148886528?s=20 

Alchemix Platform - 100M DAI https://twitter.com/scupytrooples/status/1366029422839570432?s=20 

B.Protocol-Compound Integration https://medium.com/b-protocol/b-protocol-compound-integration-is-live-fe026ba7b301 

Kings Of Leon Album NFT https://www.rollingstone.com/pro/news/kings-of-leon-when-you-see-yourself-album-nft-crypto-1135192/ 

Introducing ‘Gateway’ https://medium.com/compound-finance/gateway-623f6f48d2b6 

------ NEWS

Citigroup Report on Crypto https://www.cnbc.com/2021/03/01/bitcoin-btc-is-at-a-tipping-point-citi-says.html 

Paypal To Buy Curv https://www.coindesk.com/paypal-to-buy-crypto-custody-firm-curv-sources 

Paypal & Smart-Contracts? https://twitter.com/mdudas/status/1367525905761984517?s=20 

MicroStrategy Buys BTC - $15m https://decrypt.co/59789/microstrategy-invests-15-million-in-bitcoin-adding-to-4-3-billion-stash 

Furucombo Exploit - $14m https://www.theblockcrypto.com/linked/96572/defi-building-block-service-furucombo-exploited-for-14m 

Fed Looking At Digital Dollar https://markets.businessinsider.com/currencies/news/fed-digital-dollar-jerome-powell-congress-issue-crypto-bitcoin-2021-2-1030114663 

Grimes $5.8 Million NFT Auction https://cointelegraph.com/news/musician-grimes-debut-nft-auction-generates-5-8m-in-20-minutes 

3LAU $11.6M NFT Sale https://thissongissick.com/post/3lau-11-million-nft-auction/ 

Ubisoft Bring NFTs into Games https://twitter.com/bruhagan/status/1366711237632004098?s=20 

NFT Bull Market https://twitter.com/spencernoon/status/1367495101681983490?s=20 

Canada Filing For ETH ETF https://www.theblockcrypto.com/linked/96813/evolve-funds-eth-etf-filing-canada 

BitMEX’s Arthur Hayes Expected To Surrender https://twitter.com/ppogodin/status/1367189056212398081?s=21 

------ TAKES

Burniske Advice to entrepreneurs https://twitter.com/cburniske/status/1367231116529180672?s=20 

BSC Speedrunning DeFi summer https://twitter.com/sassal0x/status/1367437987185709062?s=20 

ETH's Moat is EVM https://thedailygwei.substack.com/p/the-evm-is-the-moat-the-daily-gwei 

Full Blocks Maximalist https://twitter.com/TrustlessState/status/1367364003521986561?s=20 

ETH Maxis: Bitcoin is a Worthless Meme Coin https://twitter.com/ashleighschap/status/1366903062091210754?s=20 

------ MEME

https://www.instagram.com/p/CLzwCdIgiXH/?igshid=1rmy63avudo2t 

----- Not financial or tax advice. This channel is strictly educational. This channel is NOT: investment advice, a solicitation to buy/sell any asset, 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. See Bankless investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 

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

Matt Hougan, CIO of Bitwise, joins Bankless for this week's State of the Nation!

Founded in 2017, Bitwise Asset Management pioneered the first cryptocurrency index fund and provides rules-based exposure to the cryptoasset space. Learn about Bitwise's newest product, their DeFi Crypto Index Fund.

------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ GO BANKLESS WITH THESE SPONSOR TOOLS:

⭐️ AAVE - BORROW OR LEND YOUR ASSETS https://bankless.cc/aave 

🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP https://bankless.cc/go-gemini 

💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith 

📈 KWENTA - DERIVATIVES TRADING WITH INFINITE LIQUIDITY https://bankless.cc/kwenta​ 

------ SotN #36: Bitwise DeFi Crypto Index | CIO Matt Hougan

Bitwise is connecting DeFi assets to the world of ‘big money.’ Matt Hougan is CIO (Chief Investment Officer) of Bitwise, and before moving into the crypto space, he pioneered the ETF investment vehicles in the world of traditional finance.

Matt, with his dog by his side, posits that there are three ‘buckets’ of wealth in America where capital is pooled. The first is ‘Self-Directed Retail Investors,’ who has bootstrapped crypto from the ground up. The second is ‘Institutional Investors,’ including Venture Capital Firms, Endowments, Foundations, and other large funds. The third – and most neglected – is capital under the ‘Financial Advisor’ umbrella. This is where the 1%-er money is, and this bucket is just now gaining access to the crypto space.

The Financial Advisor bucket holds $30-$40 Trillion in assets, and the minds in this space are changing as crypto is increasingly legitimized through improving infrastructure and the strong recovery from the 2017 cycle. Building efficient vehicles to bridge this wealth into crypto is critical for large-scale adoption.

This is where Bitwise comes in. Bitwise manages around $1 Billion in assets and created the first Crypto Index Fund, offering a variety of products to retail investors, accredited investors, and financial advisors. Most recently, Bitwise launched its DeFi Crypto Index Fund, exposing financial advisors to the world of DeFi. Analogues to Legacy Finance like Price-to-Earnings Ratios and Cash Flows make DeFi compelling and understandable, but DeFi is showing itself to be “cheaper, more efficient, more open, more transparent, [and] more verifiable.”

------ RELEVANT LINKS:

Matt on Twitter: https://twitter.com/Matt_Hougan?s=20 

Bitwise: https://www.bitwiseinvestments.com/ 

Matt's CFA Report on Cryptoassets: https://www.cfainstitute.org/-/media/documents/article/rf-brief/rfbr-cryptoassets.ashx 

Makerburn https://makerburn.com/#/ 

------ 📣REGISTER FOR COINDESK CONSENSUS 2021 AND SAVE $20 W/ BANKLESS http://bankless.cc/consensus2021  ------

CATCH UP ON BANKLESS:

🗞️ Weekly Rollup (2/26): https://shows.banklesshq.com/p/-rollup-big-dip-nft-culture-coinbase  🧢 Weekly Action Recap (2/28): https://newsletter.banklesshq.com/p/weekly-action-recap-f41  📈 Market Monday (3/1): https://newsletter.banklesshq.com/  🎙️ Podcast with Mark Cuban (3/1): https://shows.banklesshq.com/p/-why-defi-is-the-future-mark-cuban  🐦 Follow Bankless on Twitter: https://twitter.com/BanklessHQ 

----- 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 

Matt Hougan, CIO of Bitwise, joins Bankless for this week's State of the Nation!

Founded in 2017, Bitwise Asset Management pioneered the first cryptocurrency index fund and provides rules-based exposure to the cryptoasset space. Learn about Bitwise's newest product, their DeFi Crypto Index Fund.

------