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

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ROLLUP: 4th Week of October

MARKET: What’s the Market saying?

BTC Price - More or less ATH. Less than 5 weeks of time spent above 13k!

ETH Price

- YFI, UNI, DeFi tokens down - Anthony Sassano's Daily Gwei piece on the swinging pendulum https://thedailygwei.substack.com/p/the-sentiment-pendulum-the-daily - $2B BTC on Ethereum https://btconethereum.com/

RELEASES: What got released? Aave Admin Key Handover https://medium.com/aave/aave-admin-key-handover-3e09e603d348

Coinbase Debit cards https://decrypt.co/46507/coinbase-expands-crypto-debit-card-to-us-customers?utm_source=twitter&utm_medium=social&utm_campaign=auto

JPM Coin https://www.cnbc.com/2020/10/27/jpmorgan-creates-new-unit-for-blockchain-projects-as-it-says-the-technology-is-close-to-making-money.html

JPM on the market for a custody provider https://twitter.com/TheBlock__/status/1321195503367970820

The largest bank in Singapore just launched a crypto exchange DBS! Audius on mainnet; airdrop to 10k most popular artists FTX Launches BTC-Equity trading pairs https://www.coindesk.com/ftx-launches-bitcoin-pairs-against-amazon-apple-tokenized-stocks

Traders in the U.S. and FTX’s other restricted jurisdictions will not be eligible to trade the products. Did he not learn from BitMEX??

NEWS What’s in the news?

Avanti is now a Crypto-Bank https://decrypt.co/46561/avanti-becomes-second-crypto-bank-us Formalization of bank = Crypto integration ‘Crypto-Bank’ was more of a meme, now its a reality

Microstrategy has made more from purchasing Bitcoin than it has in 3.5 years of revenue https://coinfomania.com/microstrategys-bitcoin-gains-exceeds-3yr-earnings/

Iran enabled BTC for import payments https://www.coindesk.com/iran-amends-law-to-allow-imports-to-be-funded-with-cryptocurrency Implication that Iran is stockpiling BTC? Cryptocurrency allows you to go around regulations

Flash Loans making governance decisions https://twitter.com/votewithtally/status/1321509824312455170?s=21

Consensys helps French Bank with CBDC pilot program https://www.coindesk.com/ethereum-developer-consensys-to-assist-french-bank-with-cbdc-pilot

Consensys helps Bank of Thailand for CBDC project https://consensys.net/blog/press-release/consensys-selected-as-technology-partner-by-the-bank-of-thailand-for-cbdc-project

TAKES What’s on your mind?

(David) BTC + Ethereum OR BTC or Ethereum https://twitter.com/TrustlessState/status/1321632145673121792?s=20 $2B BTC on Ethereum

(Ryan) Everytime I use a bank I get more bullish ETH https://twitter.com/RyanSAdams/status/1321870051859976193?s=20

Infrastructure upgrade!! (Ryan) Dirty secret of ETH killers--the VCs own them! https://twitter.com/RyanSAdams/status/1321131634142388228?s=20

If you think the tokens of ETH killers are the same as ETH, you don't understand Ethereum. https://twitter.com/RyanSAdams/status/1320714858229321728?s=20

What are you excited about? (

(David) Balancer Smart Pools https://twitter.com/TrustlessState/status/1321622734120525824?s=20) (David) Getting this election over with. Market turmoil ahead! COVID 3rd wave lockdowns

(Ryan) All bank ledgers are Ethereum sidechains https://twitter.com/RyanSAdams/status/1321067583983046656?s=20

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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 ❤️ 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:

🌐 UNSTOPPABLE DOMAINS - HUMAN READABLE ETHEREUM & CRYPTO ADDRESSES https://bankless.cc/unstoppable

🌈 ZAPPER - ULTIMATE HUB FOR DEFI - ZAP INTO DEFI http://bankless.cc/zapper

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

🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn

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SotN#19: HARDENING! with Demian Brener from Open Zeppelin (Harvest Hack, Defining Trustless, New Open Zeppelin Platform: DEFENDER)

Starting with the Harvest Hack! We discuss how the Harvest Hack happened.

Read:

Bankless Market Monday: Are We Trustless Yet? https://bankless.substack.com/p/are-we-trustless-yet-market-monday

Daily Gwei account of the Harvest Hack https://thedailygwei.substack.com/p/a-rotten-harvest-the-daily-gwei-103

Was this a new type of exploit? Or have we seen this type of exploit before? What was the weakness in Harvest’s protocol that enabled this exploit?

Was this exploit avoidable, or was that attack surface integral to how harvest operated?

What should the Harvest team have done differently?

Defining ‘Trustless’

John Adler defines trustless as these two things 1. You always have your money 2. No one can steal your money Do you agree with this definition of trustless? How would you define trustless?

New Open Zeppelin Platform: DEFENDER We're going to get into what this is and how it is helping harden DeFi Ship faster with lower risk.

Automate your Ethereum operations to deliver high-quality products faster with less risk to users. https://openzeppelin.com/defender/

Moloch NFT: https://app.rarible.com/token/0x59c53d49dc17c603a4aa41b67aa93f45f16a9dc1:1:0x3d6cdfafbfb3b76dc02bbee72564dd3160eacb8a

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

Follow DeFi Dad on Twitter https://twitter.com/DeFi_Dad

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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 ❤️ 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:

🌐 UNSTOPPABLE DOMAINS - HUMAN READABLE ETHEREUM & CRYPTO ADDRESSES https://bankless.cc/unstoppable

🌈 ZAPPER - ULTIMATE HUB FOR DEFI - ZAP INTO DEFI http://bankless.cc/zapper

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

🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn

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36 - The DeFi Blockspace Cycle | Nic Carter

Nic Carter recently released an article titled "Public Blockchain Fee Cyclicality and Negative Feedback Loops"...

... simplified "transaction fees get higher, and that incentives people transact less, and then that lowers transaction fees and that incentives people to transact more"

According to Nic, there's no equilibrium found upon public blockchains with inflexible block size; the demand to purchase blockspace will always be volatile, across all time frames.

Another perspective: constraints on blockspace availability dramatically impacts the kind of usage that is feasible to happen on the base-layer blockchain.

Transactors who are transacting large transactions will pay for higher fees! This severely impacts the markets that are supported by public blockchains! Constraints on block space are constraints on market participants!

David, Ryan, and Nic go through Nic's process is disecting the data that created these conclusions. Nic gives his perspective as to the ultimate pattern that emerges from this data.

David reads Nic's article aloud on the Bankless YouTube! Useful for listening to the episode! https://www.youtube.com/watch?v=RZ1X_3I5KrI&t=666s

Actions & Resources:

Read Nic’s articles Ethereum’s Fees Mean Choosing Between a World Computer and a Financial Network https://www.coindesk.com/ethereums-fees-mean-choosing-between-a-world-computer-and-a-financial-network

Public Blockchain Fee Cyclicality and Negative Feedback Loops https://medium.com/@nic__carter/public-blockchain-fee-cyclicality-and-negative-feedback-loops-1620141a8a87

The Adaptive Markets Hypothesis Robert Low https://blogs.cfainstitute.org/investor/2017/12/18/the-adaptive-markets-hypothesis-a-financial-ecosystems-survival-guide/

https://www.alphasimplex.com/wp-content/uploads/2004/09/The-Adaptive-Markets-Hypothesis.pdf

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

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Follow DeFi Dad on Twitter https://twitter.com/DeFi_Dad

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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 ❤️ 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:

🌐 UNSTOPPABLE DOMAINS - HUMAN READABLE ETHEREUM & CRYPTO ADDRESSES https://bankless.cc/unstoppable

🌈 ZAPPER - ULTIMATE HUB FOR DEFI - ZAP INTO DEFI http://bankless.cc/zapper

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

🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn

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ROLLUP: 3rd Week of October Welcome to Weekly Rollups, where David and Ryan package up a whole week's worth of news into a bite-sized bit of data, for easy inclusion into your brain!

Weekly Rollups: 5 TOPICS, 5 MINUTES EACH

PRICES AND MARKETS

- BTC - ETH Price - TVL in DeFi - ETH unique address ATH https://twitter.com/santimentfeed/status/1317165165234835456?s=20 - Ethereum to settle $1T in 2020 https://twitter.com/MessariCrypto/status/1318985292347543552

WHAT GOT RELEASED?

- PayPal adopts crypto _____ ⚠️ walled garden! Not yet crypto! https://www.reuters.com/article/paypal-cryptocurrency/update-1-paypal-to-open-up-network-to-cryptocurrencies-idUSL1N2HC0PL

Barn Bridge https://defirate.com/barnbridge-seed-round/ - Separates risk into tranches - Smooths out yields across protocols

Yield Protocol https://medium.com/yield-protocol/yield-protocol-is-live-e6e8ebf2537b - Fixed-rate, fixed-term borrowing and lending, with market-determined interest rates.

CirclesUBI https://decrypt.co/45419/universal-basic-income-app-launches-gives-users-free-crypto

- Decentralized Identity - Regular issuance + airdrop token

MetaMask Swaps https://medium.com/metamask/introducing-metamask-swaps-84318c643785 - Swap assets inside MetaMask - Aggregator of aggregators

WHAT'S IN THE NEWS?

Fincen going after BTC mixing service https://www.theblockcrypto.com/linked/81667/fincen-mixing-service-helix-fine-bitcoin

Central Bank Digital Currencies are getting hype https://twitter.com/RaoulGMI/status/1317836119149580288?s=20 Shielded Zvash Pool hit 600k ZE https://twitter.com/jswihart/status/1317192646062796801?s=20

Coinbase Report on who requests data from Coinbase https://blog.coinbase.com/transparency-at-coinbase-c8edf6dce4d6

Yearn Manifesto https://gov.yearn.finance/t/how-we-think-about-yearn/7137 Watches on the Blockchain! https://www.coindesk.com/breitling-arianee-all-new-watches-ethereum

WHAT'S ON YOUR MIND?

David: The dominoes seems to be falling faster and faster Markets, Charts, news and releases all seem to align/resonate and this is one of those moments I’ve been more bullish BTC than normal, and more publicly bullish BTC than normal (much to Sassals dismay) but that doesn’t change the fact that when BTC moons, ETH usually Moons 2x.

Ryan:

Long-term I think Bitcoin is second place on market cap (preparing the way) - Bitcoin: -- 2nd place in transaction fees -- 2nd place in settlement value -- 2nd place in transaction volume - There’s not such thing as ALT: if you continue see the crypto world through the lens of "Bitcoin" and the "Alts" you're going to get left behind. It's 2020, not 2015. Today there are: - Crypto capital assets - Crypto commodities - Crypto monies The same asset superclasses as old finance. WHAT ARE YOU EXCITED ABOUT? David: Deposit Contract Hype! 1 ETH value accrual pillar to 2 pillars

Ryan: Projects launching directly on L2 https://twitter.com/RyanSAdams/status/1318299374556975104?s=20 - Honeyswap (on XDAI): https://www.xdaichain.com/about-xdai/project-spotlights/honeyswap - CircleUBI - POAP - minting directly on xDai then bridge to Etheruem

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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 ❤️ 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:

🌐 UNSTOPPABLE DOMAINS - HUMAN READABLE ETHEREUM & CRYPTO ADDRESSES https://bankless.cc/unstoppable

🌈 ZAPPER - ULTIMATE HUB FOR DEFI - ZAP INTO DEFI http://bankless.cc/zapper

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

🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU http://bankless.cc/yearn

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ETH 2.0 AMA with Danny Ryan

Danny Ryan is a researcher at the EF and is one of the lead coordinators behind the ETH 2. movement!

Listen to Danny's talk at ETH Online! https://www.youtube.com/watch?v=wEh4u5a-43o&t=1539s

Check out ETH Online! https://ethglobal.online/#schedule

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

Follow DeFi Dad on Twitter https://twitter.com/DeFi_Dad

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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.