Bankless

🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/ ----- 💪BECOME A BANKLESS PREMIUM MEMBER: http://bankless.cc/membership ----- 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

------

MARKET

BTC $32,500, hanging in the low 30,000’s

ETH $1480 (New High) High-Highs, Lower Lows

TVL in DeFi: 26.5B $DPI: $290 DPI/ETH 1-Day Chart! https://www.tradingview.com/symbols/DPIWETH/?exchange=UNISWAP

Corrections - Avg correction in bull market is 35% - Every quarter has a correction - Expect them

_______ RELEASES

ETH 2.0 available on Bitfinex https://twitter.com/bitfinex/status/1352293087045947394?s=20

L2 is Coming https://twitter.com/StaniKulechov/status/1351952652612067328?s=20

Coinbase offers secondary shares https://www.theblockcrypto.com/linked/92251/coinbase-offer-secondary-market-private-shares-nasdaq

Kyber v3 launched a bunch of thing...focused on LPs https://blog.kyber.network/kyber-3-0-architecture-revamp-dynamic-mm-and-knc-migration-proposal-acae41046513?gi=769375436a6f

Alpha Homora v2 https://newsletter.banklesshq.com/p/how-to-boost-your-yield-farming-reward

Vitalik’s Holy Grail for Rollups https://twitter.com/StarkWareLtd/status/1354061268731179010?s=20

Comparing Layer 2 Solutions https://indexed.wtf/

Uniswap WBTC-ETH and USDC-ETH LP Token Vaults are Live https://twitter.com/nomos_paradox/status/1354280885936250881?s=21 https://vote.makerdao.com/executive/collateral-onboarding-debt-ceiling-adjustments-other-changes?network=mainnet#proposal-detail https://daistats.com/#/

_______ NEWS Track Placeholder Ventures on Chain https://messari.io/screener/placeholder-ventures-portfolio-AD10BC17

Public Company buys BTC (Marathon Patent Group) https://www.theblockcrypto.com/post/92378/nasdaq-marathon-patent-group-buys-bitcoin-btc-treasury-reserves

MicroStrategy bought even more BTC https://www.microstrategy.com/content/dam/website-assets/collateral/financial-documents/financial-document-archive/Form-8-K_jan-22-2021.pdf

Yellen on Cryptocurrencies https://www.theblockcrypto.com/linked/92028/yellen-treasury-senate-cryptocurrencies?utm_source=cryptopanic&utm_medium=rss

Miami Mayor is hot for BTC https://twitter.com/FrancisSuarez/status/1354488469091975168

ConsenSys partners with BSN (China) https://www.coindesk.com/ethereum-based-consensys-quorum-partners-with-chinas-bsn-blockchain

Dot’s popularity in China https://decrypt.co/55163/polkadot-china-hottest-crypto

DyDx raises $10mm Series B Funding https://t.co/uZ2wFoyv3e

Genesis did $20B in Lending in 2020 https://info.genesistrading.com/hubfs/Genesis%20-%20Quarterly%20Reports/Genesis%20Q4%20Report.pdf

DyDx did $18B in Lending in 2020 https://drive.google.com/file/d/1j2IIXIfGOnfiwfVDlK8RORa6jbsBjp52/view

Mark Cuban & Soulja Boy minting NFT’s Cuban: https://twitter.com/mcuban/status/1354497954732761088?s=20 Soulja Boy: https://twitter.com/souljaboy/status/1354486572037492736?s=19

_______ TAKES

Ethereum not blockchain https://twitter.com/JayeHarrill/status/1352027529331134464?s=20

PoS vs PoW on energy https://twitter.com/pythianism/status/1353782557884641281?s=20

Institutions adopt “ETH is Money” https://www.coindesk.com/institutional-investors-ether-rally

DeFi paying users instead of advertisers (airdrops were sick) https://twitter.com/erikvoorhees/status/1353939463202893824?s=21

Banks charging negative interest https://twitter.com/q9fmz/status/1354048620253868032?s=21

_______ WSB / GAMESTOP https://markets.businessinsider.com/news/stocks/gamestop-stock-short-seller-squeeze-losses-reddit-traders-citron-gme-2021-1-1030000080 https://www.theblockcrypto.com/linked/92959/rep-tlaib-congress-robinhood-gamestop

------ Don't stop at the video!

Subscribe to the Bankless newsletter program http://bankless.substack.com/

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----- 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 we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case

🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/ ----- 💪BECOME A BANKLESS PREMIUM MEMBER: http://bankless.cc/membership ----- 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

------ AMA with Yaniv Tal, Project Lead at Graph Protocol

The Graph (https://thegraph.com/) is an Indexing protocol that organizes data from blockchains, making decentralized data interoperable and easily accessible.

Yaniv on Twitter: https://twitter.com/yanivgraph?s=20

------ Don't stop at the video!

Subscribe to the Bankless newsletter program http://bankless.substack.com/

Visit the official Bankless website http://banklesshq.com/

Follow Bankless on Twitter https://twitter.com/BanklessHQ

Follow Ryan on Twitter https://twitter.com/ryansadams

Follow David on Twitter https://twitter.com/TrustlessState

----- 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 we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case

🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/ ----- 💪BECOME A BANKLESS PREMIUM MEMBER: http://bankless.cc/membership ----- 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

------ SotN31: The Rise of SushiSwap, with 0x Maki (Sushi vs Uniswap, Differentiation, Future of Sushi)

We bring 0xMaki, a core contributor to the SushiSwap DEX, to the Bankless State of the Nation, to get into the story behind Sushi's rise out of the depths of the 3 month DeFi bear market!

Topics Covered: - The Sushi Story Thus Far - SushiSwap Differentiation - Integrations and Partnerships - The Future of SushiSwap - The Future of DeFi

We begin with a history of the SushiSwap project and its migration from Uniswap. Maki takes us through the structures of the Sushi Ecosystem and discusses the role of Chef Nomi on the trajectory of the exchange in its turbulent beginnings.

Maki argues for a flexible, bottom-up, and community-based approach, with an emphasis on integration with other protocols like Yearn Finance, Polkadot, and Cream. We discuss Sushi’s remarkable comeback from its early struggles in 2020, and how its current volume of over $100mm daily is a result of the efforts of its diehard community.

Maki differentiates the SushiSwap Protocol from that of its sibling Uniswap, as well as the asset $SUSHI from the asset $UNI. Maki contends that Sushi’s fast-moving UI development and integration with external partners set SushiSwap apart from other DEXes.

Maki is optimistic about the adoption of Layer 2 Scaling Solutions throughout DeFi in 2021 and lays out some of SushiSwap’s ambitious plans for the future, including optimizing gas fees and user experience.

Lastly, Maki discusses the future of DeFi, arguing for compatibility and coexistence among decentralized protocols.

------ Relevant Links:

BentoBox https://boringcrypto.medium.com/bentobox-to-launch-and-beyond-d2d5dc2350bd

SushiSwap Exchange https://sushiswap.fi/

SushiSwap’s Roadmap for 2021 https://sushiswapchef.medium.com/2021-3e1f45cf86a2

SushiSwap Forum https://forum.sushiswapclassic.org/

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Subscribe to the Bankless newsletter program http://bankless.substack.com/

Visit the official Bankless website http://banklesshq.com/

Follow Bankless on Twitter https://twitter.com/BanklessHQ

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Follow David on Twitter https://twitter.com/TrustlessState

----- 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 we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case.

🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI ❤️ JOIN PRIVATE DISCORD: https://bit.ly/2UVI10O 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/ ------ AFTER THE SHOW DEBRIEF: https://shows.banklesshq.com/exclusive-justin-drake-debrief ----- 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

------ 49 - Moon Math: The Bull Case for Cryptography

Guest: Justin Drake

Justin Drake is a researcher at the Ethereum Foundation and is leading the charge of the application of cryptography to Ethereum.

Justin speaks about how far with come in the cryptocurrency industry, with only two extremely primitive tools: cryptographic hashes and signatures; the fire and wheel of applied cryptography.

Justin leads us through a cryptographic-enabled world, where more recent breakthroughs in applied cryptography supplement hashes and signatures. Multi-party computation, fully-homomorphic encryption, SNARKs, verifiable-delay functions, these are all cryptographic tools that are yet-to-be harnessed by the Ethereum blockchain.

Importantly, all of these new modern cryptographic tools are developed well beyond theoretical concepts; all that is left is for talented developers to put rubber to pavement.

Justin walks the listeners through the user story of a user making a transaction on Uniswap, and discusses how cryptographic tricks can make the entire user process more secure and more trustless.

We finish with a discussion about the long term fate of the Bitcoin blockchain, and its collision course with quanton computing, which threatens to break some of the crucial features that makes Bitcoin, Bitcoin. Justin provides a roadmap for the decoupling of BTC the asset from Bitcoin the blockchain, using a cryptographic two-way bridge between Bitcoin and an alternative new host blockchain, presumably Ethereum, and how BTC can upload itself to a new blockchain, and be rid of the baggage and liability of the Bitcoin blockchain 🤯

This is truly one of the most unique pieces of content we’ve produced on the Bankless program, and Justin deserves so much credit for leading this operation!

Resources:

Justin’s Uniswap Cryptographic Mechanism Solution spreadsheet and their theoretical application to any Ethereum app. https://docs.google.com/spreadsheets/d/1dyhNWMB6rVdmV3Xz-LlZlTt0f4tXfIW0YaoZVvenORs/edit?usp=sharing

Below are the two papers Justin mentioned on long-term Bitcoin (in)security:

"On the Instability of Bitcoin Without the Block Reward" by Princeton researchers. https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf

There are two informal explainers: https://freedom-to-tinker.com/2016/10/21/bitcoin-is-unstable-without-the-block-reward/ https://medium.com/@bergealex4/bitcoin-is-unstable-without-the-block-size-size-limit-70db07070a54

"On the insecurity of quantum Bitcoin mining" https://arxiv.org/pdf/1804.08118.pdf

------ Don't stop at the video!

Subscribe to the Bankless newsletter program http://bankless.substack.com/

Visit the official Bankless website http://banklesshq.com/

Follow Bankless on Twitter https://twitter.com/BanklessHQ

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Follow David on Twitter https://twitter.com/TrustlessState

----- 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 we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case

🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI ❤️ JOIN PRIVATE DISCORD: https://bit.ly/2UVI10O 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.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

------

• BTC Price
• • $31,500
• ETH Price 
  • $1440
  • https://twitter.com/defipulse/status/1351520589039738880
•  $DPI
  • Peaked at $240
  • Now at $195
• • NEW ATH!!
• TVL in DeFi
• • Peaked at $25B locked!
• BTC secret to success = HODL for at least 3.5 years
• • https://blockworks.co/pantera-follow-up-this-rally-looks-different-than-2017/

• Just HODL
  • Just self custody. 
• • https://thedefiant.io/btc-eth-massively-outperform-crypto-hedge-funds-in-2020/
  • 2 and 20% fees for holding BTC up 425% and ETH up 360%

• ETH Fundamentals thread from spencer
• • https://twitter.com/spencernoon/status/1351559233699983366?s=20

• Fundstrat says 10k ETH
• • https://www.bloomberg.com/news/articles/2021-01-20/fundstrat-sees-digital-coin-ether-surging-sevenfold-to-10-500

• mStable mUSD Save v2
• • https://medium.com/mstable/mstable-launches-new-composable-version-of-musd-save-982a814e17d0
  • High-yield savings
• Saddle Finance
• • https://www.coindesk.com/saddle-raises-4-3m-for-slippage-free-defi-trading
  • Curve clone?
• Loopring on Google Play
• • https://twitter.com/loopringorg/status/1351971724842184704?s=21
• State of ETH 2, Danny Ryan
• • https://twitter.com/dannyryan/status/1351930308770185217
• Optimism soft launch!
• • https://medium.com/ethereum-optimism/mainnet-soft-launch-7cacc0143cd5
• Coinbase compartmentalizing infrastructure to help reduce outages
• • https://www.coindesk.com/coinbase-redoing-infrastructure-to-prevent-outages-during-peak-times

• Yearn proposes 22% YFI mint
  • https://www.coindesk.com/lets-not-be-bitcoin-yearn-considers-minting-200m-in-new-yfi-tokens

• https://gov.yearn.finance/t/proposal-funding-yearns-future/9319

• Bankless Reply to Lyn Alden
  • https://newsletter.banklesshq.com/p/open-reply-to-lyn-alden-and-ethereum

• Goldman Sachs entering crypto with a custody play
  • • https://www.coindesk.com/goldman-sachs-to-enter-crypto-market-soon-with-custody-play-source
• Blackrock positioning to buy BTC via futures?
  • https://www.theblockcrypto.com/linked/91867/blackrock-sec-filings-bitcoin-futures

• • Massive news. BlackRock—the multi-trillion dollar asset manager—opens door to possible bitcoin futures allocation for certain funds it manages, according to recent filing.

• Money Printer go BRRR
  • https://www.cnbc.com/2021/01/18/yellen-says-us-must-act-big-on-next-coronavirus-relief-package.html
  • MMT is officially in
  • https://www.coindesk.com/janet-yellen-says-cryptocurrencies-are-a-concern-in-terrorist-financing
  • Also Yellen Crypto is for terrorist financing

• Mike Dudas response to Yellen
  • https://twitter.com/mdudas/status/1351596351897874432?s=20

• Coinbase acquires Bison Trails
  • https://blog.coinbase.com/coinbase-to-acquire-leading-blockchain-infrastructure-platform-bison-trails-f879654421d6

• Soulja Boy looking into NFTs
  • https://twitter.com/souljaboy/status/1351690439905013760?s=20

• PAX Gold - first Gold token over $100M MC
  • https://www.paxos.com/pax-gold-the-first-gold-token-with-more-than-100-million-in-market-cap/

• Pornhub payments via some random crypto tokens and USDC
  • https://www.theblockcrypto.com/linked/91817/pornhub-adds-xrp-bnb-usdc-doge-crypto-payment-options

• Ethereum is a bet that the future is going to be different
• • https://twitter.com/trustlessstate/status/1351726365620355076?s=21

• DeFi developers are now called Money Mechanics
• • https://twitter.com/ETHGlobal/status/1349053987874615303?s=20

• Valuing ETH is impossible
• • https://twitter.com/spencernoon/status/1351635677847445505?s=20

• Year in Ethereum 2020 from Josh Stark and Evan Van Ness
• • https://twitter.com/0xstark/status/1351922041599873026?s=20

• Uniswap is doing 2% of NYSE as the new normal
• • https://twitter.com/haydenzadams/status/1351646322173091840?s=20

• Have we earned it?
• • https://twitter.com/n2ckchong/status/1350328538646212608?s=20

------ Don't stop at the video!

Subscribe to the Bankless newsletter program http://bankless.substack.com/

Visit the official Bankless website http://banklesshq.com/

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Follow Ryan on Twitter https://twitter.com/ryansadams

Follow David on Twitter https://twitter.com/TrustlessState

----- 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 we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case