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Dear Bankless Nation,

Did you get the ENS airdrop last week? (you did if you used our Airdrop Guide!)

In just a handful of days, the ENS airdrop peaked at $8 billion of wealth creation.

The last time I saw this type of energy was the Uniswap airdrop, which happened over a year ago in September 2020. In crypto years that’s eons.

There was a lot to like about the ENS airdrop.

Let’s take a look:

• It was designed to be Sybil resistant against domain squatters. Early adopters were airdropped proportionally to their faith in the project.

• It had a 57% claim rate in just a few short days with nearly 75k addresses claiming close to 15M tokens—nearly 140k total address recipients

• The event created massive, but not disproportionate, wealth opportunities with many making over 7-figures—this is life changed money for many

• No VCs were involved. Just a team of core contributors and a handful of tangential parties, like translators, active Discord users, and partners.

This has to be one of the best “fair launch” projects to date. But the wealth creation and distribution here is just a tiny part of the story.

The Ethereum Name Service is a public good. As Kevin Owocki points out, public goods are non-rivalrous and non-excludable — everyone can consume them and benefit at no cost to their peers.

Typically markets don’t value public goods—in fact, many of them are run by volunteers. Free and open-source software is a great example. But we’re seeing an emerging market for high-value public goods like Gitcoin and ENS.

Why? Because these projects are community-owned and community-operated. These tokens aren’t just valued assets… they’re shared responsibilities.

brantly.eth @BrantlyMillegan

you were not airdropped free money, you were airdropped responsibility

November 9th 2021

724 Retweets5,954 Likes

We’re on the frontier here. We’re building foundational lego pieces the rest of the Web 3 world will continue to use for decades and centuries to come. And what we’re seeing is that when you equitably hand governance back to an enthusiastic community, you get shared responsibility.

You weren’t just airdropped money.

You were airdropped responsibility.

Want moar on the ENS airdrop?

• Clip: David and I talk about the airdrop for on the weekly rollup (15 mins) 📺

• Interview: Our interview with Nick and Brantly from ENS (70 mins) 📺

Here’s what we have slated for next week:

• Podcast episode with former CFTC Chairman, Chris “CryptoDad” Giancarlo

• How to group bid on NFTs

• Comparing and contrasting two zkRollup powerhouses: zkSync and StarkWare

Have a 🦄 weekend,

- RSA

P.S. Buy $500 worth of crypto on Dharma’s crazy awesome crypto wallet and get $50 in ETH.

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Recap for the week of November 8th, 2021

🎙️ WEEKLY PODCAST EPISODE

🎙️ Listen to podcast episode | iTunes | Spotify | YouTube | RSS Feed

ACTION RECAP 📚

1. Execute on any opportunities you saw in Market Monday

2. Stake ETH with Rocket Pool

3. Refresh your protocol knowledge with Ethereum’s Roadmap Update

4. Level up your hardware wallet usage with this massive guide on Ledger

5. Hypothesize on the next big airdrop

WATCH & LISTEN 🔊

1. 🎙️ Listen to The Future of Coinbase| Brian Armstrong

2. 📺 Watch DC Investor | Layer Zero

3. 📺 Watch The ENS DAO and $ENS Airdrop

4. 📺 Watch DeFi 2.0 Summit | Rari, Olympus, Tokemak, TracerDAO, Alchemix

5. 📺 Watch ROLLUP: ENS Airdrop | MetaMask Token | Discord Teasing Crypto

6. 🔥 NEW! Subscribe to Overpriced JPEGs right now!

METAVERSAL 🧙‍♂️

1. Explore Katana, Axie Infinity’s newest NFT native DEX

2. Join the NFT Alliance on Aribtrum

3. Catch up on drops, releases, and what 🐋s are buying

BANKLESS DAO 🏴

1. Research the GMI index

2. Learn from the experts with tips on collecting art

3. Invest in tokenized communities with Ben Jacobs from Seed Club

4. Recap this week in Bankless DAO

Weekly Subscriber Perks 🔥

Bankless Premium Members get access to perks like these:

• Full Access: Bullish Humanity | Market Mondays

• 🔥 Deals: 20% off on Ledger Nano S

• Exclusive Debrief: The Future of Coinbase| Brian Armstrong

• Early Access: The Fight for the Future of Money | CryptoDad Chris Giancarlo

• Office Hours: Live broadcast with Ryan and David in Discord on Nov 19th!

📺 STATE OF THE NATION

🎙️ Listen to podcast episode | iTunes | Spotify | YouTube | RSS Feed

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

🎙️ Listen to podcast episode | iTunes | Spotify | YouTube | RSS Feed

Jobs opportunities 🧑‍💼

✨ See all listings on the Bankless Job Board✨

• Analyst: NFT Specialist at Bitwise Asset Management

• Analyst: Smart Contract Platforms & Web3 at Bitwise Asset Management (✅ technical!)

• Analyst: Governance Specialist at Bitwise Asset Management

• Lead Engineer at Hats Finance (✅ technical!)

• Community Builder & Developer Evangelist at Dexible

• Head of Tokens at Immutable (✅ technical!)

• Head of Ethereum Research at Immutable (✅ technical!)

• CTO at eAgronom (✅ technical!)

• Community Manager at eAgronom

• Founding Blockchain Engineer at Highlight (✅ technical!)

• Community Manager at Aragon

• Community Lead at Popcorn

• Interim Blockchain CTO at Meryt (✅ technical!)

• Senior Backend Engineer at SmartDeFi (✅ technical!)

• Finance & Operations at SmartDeFi

• General Counsel at SmartDeFi

• Product Manager at SmartDeFi

Subscribe to Bankless. $22 per mo. Includes archive access, Inner Circle & Badge.

🙏Thanks to our sponsor

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Write for Bankless

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter 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.