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Flex Those NFTs

Dear Bankless Nation,

If you can't beat em join em.

The banks are coming to DeFi now. 🤯

Rune Christensen @RuneKek

Société Générale, the third largest bank in France, just made a collateral onboarding application to Maker for 20 million USD. Backed by EUR bonds, proposed by their blockchain subsidiary.

forum.makerdao.com[Security Tokens Refinancing] MIP6 Application for OFH TokensDear MakerDAO Community, We submit to you, on behalf of European investment firm Societe Generale-Forge, this MIP6 application for discussion and approval of Security Tokens refinancing. This first experiment at the crossroads between regulated and open source initiatives, as described below, is in…

10:26 PM ∙ Sep 30, 2021

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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.

- RSA

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

📺 NEW PODCAST EPISODE

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

ACTION RECAP 📚

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

WATCH & LISTEN 🔊

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

METAVERSAL 🧙‍♂️

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

BANKLESS DAO 🏴

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:

• Full Access: The Roaring 20s | Market Monday

• Exclusive Debrief: OpenSea and the NFT Business | Devin Finzer

• Early Access: The Future of MakerDAO | Rune Christensen

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

📺 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✨

• Founding Blockchain Engineer at Highlight

• Community Manager at Aragon (❌technical!)

• Community Lead at Popcorn (❌technical!)

• Senior Frontend Web3 Developer at Tracer DAO

• Senior Software Programmer at Popcorn

• Interim Blockchain CTO at Meryt

• Senior Backend Engineer at SmartDeFi

• Finance & Operations at SmartDeFi

• General Counsel at SmartDeFi

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

🙏Thanks to our sponsor

Aave

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Tag Bankless on Twitter and tell us how you’re going bankless for 3 x 🔥

GLCstaked is dropping alpha for the alpha.

GLC 🧑‍🚀 @GLCstaked

Bankless open forum today is asking ‘what is your best crypto investment’ I think subscribing to Bankless is one if not the best, here’s why

4:43 PM ∙ Oct 8, 2021

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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.