Bankless

Today on the show we're joined by Luca Netz, the new owner of Pudgy Penguins.  Luca walks us through his story of how he got here, from a less than ideal childhood, to a full blown NFT empire.  In addition to a massive new deal with Walmart, he also lays out the case for why he thinks the bright future for Pudgy Penguins has only just begun.

------ ❎ Visit dydx.exchange to learn about dYdX Chain https://dydx.zone/3SfJTP7  ------ 🎧 Listen On Your Favorite Podcast Player:  https://bankless.cc/Podcast  ------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2  ⁠ 

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🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku   

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle   

💸 CRYPTO TAX CALCULATOR | USE CODE BANK30 https://bankless.cc/CTC 

🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap 

------ TIMESTAMPS 00:00:00 Start 00:07:36 Intro To Luca 00:11:09 Building an NFT Brand 00:17:00 Deciding to Buy Pudgy Penguins 00:19:43 Earning the Money For The Purchase 00:23:35 What Did Luca Actually Buy? 00:26:03 The Masterplan 00:30:44 Post-Buy Learnings 00:38:57 First Steps Of Action 00:43:03 Licensing 00:45:46 Royalties 00:50:19 Walmart Deal 00:59:33 What's Different About Web3 01:03:54 Managing Expectations 01:09:43 Pudgy World 01:16:01 zk Sync 01:18:19 Lightning Round 01:22:59 Wen Flip Apes?

------ RESOURCES

Luca Netz: https://twitter.com/LucaNetz 

Pudgy Penguins: https://pudgypenguins.com/ 

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures ⁠

The Stark token is here! After waiting for almost 6 years we're thrilled to share that one of the earliest and most promising layer 2's has just released official details on their token, STRK.

They are provisioning it to users of Starknet, to stakers in the Ethereum ecosystem, open source developers and so many more. A total of 1.3 Million wallets are eligible to receive the $STRK token, are you one of them?

Joining us today is Starkware founder and CEO Eli Ben-Sasson, and Starknet CEO Diego Oliva who are here to walk us through all you need to know about the big launch.

✅ Check Eligibility Here: https://provisions.starknet.io/ 

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🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠ 

🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo   

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku   

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle   

💸 CRYPTO TAX CALCULATOR | USE CODE BANK30 https://bankless.cc/CTC 

🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap 

------

TIMESTAMPS

00:00 Intro 05:28 Timing Of The Launch 07:36 Denominate Fees in Stark Tokens 12:29 Starknet Readiness 16:53 Starkware/Starknet Company Design 21:24 Distribution of $STRK 26:01 Total Supply of Token 27:12 Provisions For Stakers 32:16 Provisions Via Staking Pool 33:10 StarkEx Users 36:44 Release Dates 40:26 What's Next? 43:43 Exciting Community Narratives 48:19 Closing Thoughts

------ RESOURCES

Eli: https://twitter.com/EliBenSasson 

Diego: https://twitter.com/jdiegooliva 

Starknet: https://twitter.com/Starknet  ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ 

Today on the show, we’re talking about Oval, a new DeFi primitive that Hart Lambur from UMA is introducing to the world of DeFi’s biggest lending markets. Billions of dollars have been liquidated from protocols like Aave, Compound, and MakerDAO over the years, and these liquidations have been extremely inefficiently priced, due to reasons! Reasons that we will discuss here on the show today. 

Hasu also joins us on this conversation today to discuss the way that MEV share from Flashbots is a part of this conversation, and he helps illuminate what this means for DeFi going forward as a whole.

------ ⛓️ Visit dydx.exchange to learn about dYdX Chain https://dydx.zone/3SfJTP7 

------ 🎧 Listen On Your Favorite Podcast Player:  https://bankless.cc/Podcast 

------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠ 

🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo   

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku   

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle   

💸 CRYPTO TAX CALCULATOR | USE CODE BANK30 https://bankless.cc/CTC 

🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap 

------ TIMESTAMPS   0:00 Intro 7:15 MEV & Oracle Foundations  11:19 Why Solving MEV is Important 21:16 High-Level Patterns  28:19 The Oval Mechanism  42:23 MEV Share Parameters  48:36 Decentralization of the MEV Share  54:30 Auction Length 56:08 Oval B/D Adoption  58:05 Uniswap v4  1:02:31 Oval Cut Upside 1:05:45 Future Questions to be Answered  1:08:42 Closing & Disclaimers 

------ RESOURCES

What is SUAVE? FlashBots Phil Daian and Andrew Miller explain https://youtu.be/j3ZM2ZdUWXU 

Oval  https://uma.xyz/   https://twitter.com/UMAprotocol  

Hart  https://twitter.com/hal2001  

Hasu https://twitter.com/hasufl  

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures ⁠ 

✨ DEBRIEF | Ryan and David unpacking the episode: https://bankless.com/debrief-e-acc-beff-jezos  

One guest, two identities. Beff Jezos (Guillaume Verdon) is a founding father of the e/acc movement, a physicist, a quantum researcher, and the founder of an AI startup called Extropic. Beff thinks AI doomers are not only wrong, but they’re taking humanity in the worst possible direction. Growth. Acceleration. Progress. These are the core pillars of the e/acc movement. Instead of slowing down on AI progress, Beff explains why we should be speeding up. 

------ 🎧Listen On Your Favorite Podcast Player  https://bankless.cc/Podcast   

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🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠ 

🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo   

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku   

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle   

💸 CRYPTO TAX CALCULATOR | USE CODE BANK30 https://bankless.cc/CTC 

🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap  

------ TIMESTAMPS 

0:00 Intro 7:15 Why Pseudonym 15:01 The e/acc Pil 31:54 Fume 36:25 Beff’s Beliefs 39:39 Defining e/acc 40:52 The Dangers of AI? 52:05 Why We’re Here & The e/acc Religion? 58:19 Thermodynamics & Life  1:06:16 Maximizing Human Happiness?  1:16:25 Forgetting Society’s Bottom Half  1:23:00 Cancer Also Grows? 1:29:01 AI Regulation 1:33:09 Social Media’s Mistake   1:36:30 AI Bill of Rights  1:38:26 Domesticating AI 1:41:00 Biggest Threats Against e/acc  1:43:43 AI Humans vs. Humans  1:46:09 e/acc vs. Decels…Violence?  1:49:09 Beff’s Thoughts on Crypto 1:54:36 Beff’s Company - Extropic 1:58:18 Closing & Disclaimers 

------ RESOURCES

Beff Jezos https://twitter.com/BasedBeffJezos 

Guillaume Verdon https://twitter.com/GillVerd  

Extropic https://twitter.com/Extropic_AI  

AI Safety Podcasts - The Decels Eliezer Yudkowsky https://youtu.be/gA1sNLL6yg4   Connor Leahy https://youtu.be/pMoVsM1EWR0  Paul Christiano https://youtu.be/GyFkWb903aU   Nate Sores  https://youtu.be/Ymjb3SkElco  

------ 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.

See our investment disclosures here: https://www.bankless.com/disclosures 

Bankless Weekly Rollup 2nd Week of February, 2024

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------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠ 

🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo   

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku   

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle   

💸 CRYPTO TAX CALCULATOR | USE CODE BANK30 https://bankless.cc/CTC 

🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap 

------ TIMESTAMPS

0:00 Intro

2:30 MARKETS 5:30 Layer 2s https://l2beat.com/scaling/summary  8:30 Genesis Selling Billions https://twitter.com/Matt_Hougan/status/1754516523304239326  10:20 Bitcoin Spot ETF https://defillama.com/crypto-etf  https://twitter.com/JSeyff/status/1755336511791169574  13:00 Farcaster https://x.com/dwr/status/1754898218956329273?s=20  https://warpcast.com/jayg/0x6675c6e2 

19:45 Solana Outage https://twitter.com/SolanaStatus/status/1754831404972552310?s=20  https://twitter.com/matthew_sigel/status/1754874183807307828  https://twitter.com/matthew_sigel/status/1754874192078549406  https://status.solana.com/uptime?page=5  https://twitter.com/dmihal/status/1754837377787609256?s=20 

26:50 Eigenlayer Deposits https://twitter.com/eigenlayer/status/1754596238761332939  https://defillama.com/protocol/eigenlayer  https://twitter.com/0xVEER/status/1755069748981674113?s=20 

31:30 Restaking Wars https://twitter.com/0xmurathan/status/1753888543951262181?s=46  https://x.com/pythianism/status/1755321346077397124?s=20  https://www.youtube.com/watch?v=7N_pfNWGCmw  https://warpcast.com/hildobby/0xb843396f  https://twitter.com/hildobby_/status/1755297005188915414?s=20 

34:25 Finance Delisting Monero https://www.binance.com/en/support/announcement/binance-will-delist-ant-multi-vai-xmr-on-2024-02-20-f73b083ba6834771b07dbe5319917ae5  https://x.com/TrustlessState/status/1754988413579616559?s=20 

40:30 Dencun Mainnet Date https://x.com/parithosh_j/status/1755198250456408297?s=20  https://twitter.com/terencechain/status/1755598083558437295  https://x.com/dapplion/status/1752766529559789938?s=20  42:00 Nounsdao Animation https://warpcast.com/trent/0x6055926f  42:55 Taproot Wizards https://twitter.com/QuantumCatsXYZ/status/1754644923461038499?s=20  https://www.quantumcats.xyz/  45:00 Synthetix Chain https://mirror.xyz/kain.eth/kuLEnkUhJBPdJCs9gSIQ2_umGprJq3ZZCExmtc69zn8  48:30 Fraxtal Launch https://x.com/fraxfinance/status/1755386501926433087?s=20  https://x.com/fraxfinance/status/1755386523875181023?s=20  https://twitter.com/jon_charb/status/1751319646601371902?s=20  51:22 ENS GoDaddy https://twitter.com/GoDaddy/status/1754558153008538108  https://x.com/ensdomains/status/1754508567321981219?s=20  53:30 Spot ETF Staking https://x.com/EricBalchunas/status/1755268354355368379?s=20  https://x.com/SGJohnsson/status/1755273120317854066?s=20  55:35 Prometheum ETH Security https://fortune.com/crypto/2024/02/07/sec-prometheum-ethereum-broker-dealer-gary-gensler-coinbase/?taid=65c39d0ef9bf2c00019d4d42  https://twitter.com/MikeSeligEsq/status/1755296298918367445  https://tenor.com/view/mine-animal-pet-dog-cat-gif-5612364  58:40 Omega https://twitter.com/omega_infra/status/1754913327321358353?s=46  1:00:00 MEME of the Week https://twitter.com/boldleonidas/status/1754076355036397910?s=46 

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠ 

In this episode of Bankless Takes, Ryan and David discuss the incredibly valuable investing wisdom from Chris Burniske, restaking summer…what’s the impact to ETH, and Vitalik’s end of my childhood post.

------ 🏹 dYdX | STAKING https://bankless.cc/dYdX-staking-podcast  

------ 🎧Listen On Your Favorite Podcast Player  https://bankless.cc/Podcast   

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🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠ 

🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo   

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku   

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle   

💸 CRYPTO TAX CALCULATOR | USE CODE BANK30 https://bankless.cc/CTC 

🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap  

------ TIMESTAMPS & RESOURCES

0:00 Intro 1:19 Wisdom 5:20 Burniske Investing Wisdom https://x.com/cburniske/status/1754315356770902293 

18:20 Restaking  22:50 Restaking Impact on ETH?  https://cryptoquant.com/asset/eth/chart/eth2/total-value-staked  https://ultrasound.money  https://app.eigenlayer.xyz/  https://dune.com/hashed_official/lrt 

41:30 End of My Childhood (Vitalik) https://vitalik.eth.limo/general/2024/01/31/end.html  

51:17 Closing & Disclaimers

------ See our investment disclosures here: https://www.bankless.com/disclosures 

Farcaster is a twitter-like crypto social media app that just launched what could prove to be a killer new feature. They’re called frames.

We’re calling it now and we’re calling it early - we think Farcaster frames could be a breakout use-case for crypto this year and a way to onboard the masses in the months to come and we're here with founder, Dan Romero, to explain why. ------ 🏹 USE PODCAST24 FOR 10% OFF https://bankless.cc/Citizen2024  ------ 🎧 Listen On Your Favorite Podcast Player:  https://bankless.cc/Podcast  ------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠ 

🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo   

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku   

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle   

💸 CRYPTO TAX CALCULATOR | USE CODE BANK30 https://bankless.cc/CTC 

🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap 

------ TIMESTAMPS  

00:00:00 Start 00:07:48 Intro To Dan and Farcaster 00:12:00 What's Different About Farcaster 00:17:12 Investing in Farcaster vs X 00:22:19 Introduction To Frames 00:29:40 Frames Escape Velocity 00:38:22 Building a New Internet 00:47:52 Frames Distribution 00:54:52 Sufficiently Decentralized 01:05:11 Censorship 01:10:07 Farcaster Costs 01:15:29 Farcaster Economics 01:21:54 Rapid Fire Q&A

------ RESOURCES

Farcaster: https://www.farcaster.xyz 

Dan Farcaster: https://warpcast.com/dwr.eth 

Dan X Profile: https://twitter.com/dwr 

------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures ⁠

✨ DEBRIEF | Ryan and David unpacking the episode: https://bankless.com/debrief-franklin-templeton 

Franklin Templeton Has Entered the Chat. More broadly TradFi has entered the chat. Franklin Templeton is a TradFi company with $1.5 trillion in assets. We brought on their SVP Sandy Kaul, who is a turbo crypto bull. 

What’s Franklin Templeton? It’s an investment management company (think mutual funds, ETFs) that manages over $1.5 Trillion in assets. This is what we in crypto affectionately refer to as TradFi and they recently came out with a BTC ETF and have big plans for future tokenization. They also seem to be incredibly bullish on crypto and this new intersection between crypto and TradFi. This is exactly what we wanted to explore with Sandy today.

------ 🏹 dYdX | STAKING https://bankless.cc/dYdX-staking-podcast  

------ Listen On Your Favorite Podcast Player:  https://bankless.cc/Podcast   

------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2    ⁠  

🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo   

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku   

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle   

💸 CRYPTO TAX CALCULATOR | USE CODE BANK30 https://bankless.cc/CTC 

🦄UNISWAP | ON-CHAIN MARKETPLACE https://bankless.cc/uniswap  

------ TIMESTAMPS

0:00 Intro 7:18 Explaining Crypto to TradFi  13:45 Why TradFi Waited  21:58 Explaining Tokens & Franklin Templeton’s Future Use  31:55 The Chameleon Asset  39:30 What’s Preventing Franklin Templeton? 46:27 Advice For Founders 48:37 Regulation Vibe Check 54:30 Countering Crypto Critiques  1:00:00 BTC & ETH ETF 1:12:16 Under or Over-Rated 1:15:00 Sandy’s Crypto Story 1:17:30 Franklin Templeton’s Twitter  1:19:20 Closing & Disclosures

------ RESOURCES

Franklin Templeton’s Twitter  https://twitter.com/FTI_US  

Sandy Kaul https://www.linkedin.com/in/sandy-kaul-8571877/  

------ 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://www.bankless.com/disclosures 

✨ DEBRIEF | Ryan and David unpacking the episode: https://bankless.com/debrief-fragmentation 

------ The Ethereum Ecosystem is going through Fragmentation, can we make it more Composable? 

We brought on Ethereum researcher Justin Drake to explore this question in detail.

We cover deep topics like Universal Synchronous Composability, Shared Sequencing and Based Rollups. Justin explores the solution for which might be Ethereum’s Hardest Challenge and its roadmap.

------ Listen On Your Favorite Podcast Player: https://bankless.cc/Podcast  

------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2 

🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku  

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle  

💸 CRYPTO TAX CALCULATOR | USE CODE BANK30 https://bankless.cc/CTC 

------ TIMESTAMPS

00:00 Intro 6:55 Ethereum’s Fragmentation Problem 10:00 The Solution 17:14 Composability Spectrum 23:57 Universal Synchronous Composability 30:32 Composability Features 36:25 Why Composability Matters 43:07 The Roadmap 46:52 What is Shared Sequencing? 1:03:38 A Shared Sequencing Paradigm 1:19:55 Shared Sequencing Solutions 1:30:25 Rollup Design 1:40:15 Based Rollup Roadmap 1:47:02 What’s Next 1:50:51 Timeline 1:53:10 Accessory Technologies 1:58:18 The Role of Blockspace 2:05:28 Outro

------ RESOURCES

Justin Drake https://twitter.com/drakefjustin  

Justin Drake Episodes https://www.youtube.com/watch?v=X-4Jn8p2Oeo  https://www.youtube.com/watch?v=azjpYTB7PVE  https://www.youtube.com/watch?v=ycK3AUTdl1w  

------ 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://www.bankless.com/disclosures

What are the biggest questions that people have about Eigenlayer? 

David sourced these questions from Crypto-Twitter, and will be asking Sreeram LIVE!

------ 🏹 USE PODCAST24 FOR 10% OFF https://bankless.cc/Citizen2024  ------ 🎧 Listen On Your Favorite Podcast Player:  https://bankless.cc/Podcast  ------ BANKLESS SPONSOR TOOLS:

🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE https://k.xyz/bankless-pod-q2  ⁠

🔗CELO | CEL2 COMING SOON https://bankless.cc/Celo 

🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION https://bankless.cc/toku 

🛞MANTLE | MODULAR LAYER 2 NETWORK https://bankless.cc/Mantle 

💸 CRYPTO TAX CALCULATOR | USE CODE BANK30 https://bankless.cc/CTC 

------ TIMESTAMPS 00:00:00 Start 00:00:29 Intro 00:03:27 Sriram and Nima 00:04:41 Why Should We Care? 00:06:09 Unique Use Cases 00:14:25 AVS Rewards Payouts 00:19:07 AVS Incentives 00:24:32 AVS Awareness 00:29:24 Slashing a Delegated Validator 00:31:26 Calculating Risk 00:33:18 Ecosystem Take Rate 00:36:10 Unstaking 00:38:02 Solo Staking Premium 00:42:19 Addressing Risks 00:54:40 Healthy Slashing 01:03:36 Native Token 01:08:19 When Token?

------ RESOURCES

Eigenlayer: https://www.eigenlayer.xyz/ 

Sreeram: https://twitter.com/sreeramkannan?lang=en 

Nima: https://twitter.com/nima_vaziri 

Risks: https://docs.eigenlayer.xyz/risk/risk-faq  ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠