Banks Are Coming to DeFi

The tables have the banks are coming to DeFi.

Our friends at Zerion launched some killer NFT features. Just plug in your wallet and flex.

Flex Those NFTs

Dear Bankless Nation,

If you can't beat em join em.

The banks are coming to DeFi now. 🤯

The third largest bank in France just posted on the MakerDAO governance forums to get their collateral approved for loans.

This is the first example of a major bank submitting an application for a financial relationship with a DeFi protocol. The loan would be for up to $20 million in DAI, and would use on-chain bond tokens issued by the bank as collateral. These tokens were issued in 2020, with a fixed rate of 0%, a AAA rating from Moody’s and Fitch, and mature in 2025.

This isn’t just a bank using DeFi.

This is a bank actually building on DeFi.

Forget the loan value for a min. $20M is peanuts. Think about what’s going on here:

  • An institution is integrating a DeFi protocol into its financial products

  • A bank is coordinating with a DAO. No backchanneling, just forum proposals.

  • Regulated initiatives 🤝 Open-source initiatives

DeFi is the future of France. Vive la révolution. 🇫🇷

Oh…and we talk all about this on Monday’s podcast with Rune Christensen, the founder of Maker.

He also tells us why he’s become something of an…ETH maximalist?

The podcast is already up for you Premium Members.

Another awesome week coming up:

  • Podcast with Rune Christensen on the future of Ethereum (early access here)

  • We show you how to collect NFTs on Layer 2

  • The ultimate guide to yield in Q4 🔥

Have a 😎 weekend.


P.S. Download the week in crypto in 70 seconds w/ Bankless correspondant crypto Kyla. 📺

🙏 Sponsor: Aave—Experience DeFi: Deposit, Earn, & Borrow with Aave

Recap for the week of Oct. 4th, 2021


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


  1. Execute on any opportunities you saw in Market Monday

  2. Pay off your student loans with DeFi

  3. Read an insider’s take on why Play to Earn is the future of gaming

  4. Digest a thorough analysis on why ETH will hit $20K

  5. Share your best crypto investments


  1. 🎙️ Listen to OpenSea & The Business of NFTs | Devin Finzer

  2. 📺 Watch Mariano Conti | Layer Zero

  3. 📺 Watch SotN: The dYdX Boom | Antonio Juliano

  4. 📺 Watch ROLLUP: Tik Tok NFTs | Société Générale & MakerDAO | ETH 2.0

  5. 🥂 Bonus! MTN: Kwenta | Andrew Trudel


  1. !croak: an intro to CryToadz

  2. Stand with the metaversal barbarians at the gate

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


  1. Inaugurate the State of the DAOs newsletter

  2. Explore the intersection of fine arts and NFTs

  3. Listen to vignettes with attendees at MCON

  4. Vote on the last snapshot proposals for Season 1

Weekly Subscriber Perks 🔥

Bankless Premium Members get access to perks like these:

Launch your own raffle for Bankless Badge holders! Go ahead. We can’t stop you…


🎙️ 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

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🙏Thanks to our sponsor


👉 Experience DeFi: Deposit, Earn, & Borrow with Aave

Aave is a decentralised, open source and non-custodial liquidity protocol enabling users to earn interest on deposits and borrow assets. Aave Protocol is unique in that it tokenizes deposits as aTokens, which accrue interest in real time. It also pioneered Flash Loans and Credit Delegation as innovative DeFi building blocks. The Aave Protocol V2 makes the DeFi experience more seamless with features that allow you to swap your assets for the best yields on the market, and more. Check it out here.

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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.