Claim your Bankless Badge if you subbed before May 1st. Bankless DAO has plans for you :)

Join the Bankless Nation

Dear Bankless Nation,

Remember the day Bankless got acquired by Wells Fargo?

Some of you thought our April Fools satire was hilarious. Others were outraged! My inbox was flooded. (Reminder—no one can acquire the bankless movement)

But a lot of you asked if these hilarious Wells Fargo shorts were real. (They’re not! 😅)

This gave Michael Wong an idea—what if we could make the meme real? What if we transfer the bankless revolution to wearable form?

After a collab with MetaFactory the end result is this epic commemorative tee:

You can get a Wells Bankless Tee now!

This is a timed drop edition—only two days to buy it. Closes at on May 18th, 2021.

THIS WILL NEVER PRINT AGAIN.

I want this tee shirt!

🤖 Alpha leak: when you buy the Wells Bankless tee enter your ETH address at checkout and you’ll get 42% of the price back in ROBOT 🤖 tokens.

This is only Drop #1. I’ve seen plans for future drops…they’re straight 🔥.

You’ll want them all. Sign up here so you don’t miss anything.

Scarce crypto culture swag is a big opportunity:

👉 Read about the apparel partnership between Bankless DAO and MetaFactory

👉 Subscribe to Bankless Culture newsletter to get notified on future drops

Why is culture important?

Because this is more than technology…this is a social movement.

The people are taking back their banking system.

The banks can’t stop us.

We’re building a money system by the people for the people.

Let’s spread crypto culture.

- RSA

P.S. Last chance for Consensus 2021 tickets! Ray Dalio talking crypto and David Hoffman talking Ultra Sound Money. Coming May 24th. Get your tickets (BANKLESS code for $20 off).

🙏 Sponsor: Balancer—Earn $BAL back when you swap tokens on Balancer.

🎙️ NEW PODCAST EPISODE

Listen in Podcast App | iTunes | Spotify | YouTube | RSS Feed

MARKET MONDAY:

Scan this section and dig into anything interesting

Market numbers 📊

• ETH dumps -20% to $3,295 from $4,100 last Monday

• BTC tanks -25% to $43,000 from $56,200 last Monday

• TVL drops -15% to $72.5B from $85.4B last Monday

• DPI cools down -4% to $529 from $550 last Monday

• DAI stability fee on ETH holds 5.50%

Market opportunities 🤑

• Wear the Bankless Fargo Box Tee (sale closes Wednesday)

• Swap tokens on Balancer V2

• Invest in the BTC-FLI Index for 2x leverage on BTC

• Research the state of crypto fundraising with Dove Mountain Data

• Predict future outcomes with Reality Cards Beta

• Lend GUSD on Aave for 5% APY (plus 6% in AAVE liquidity mining)

• Claim your FLX airdrop (distribution next week)

• Claim your Convex airdrop if you hold veCRV

Yield Farming 🌾

• ALPHA LEAK: How to earn over 100% APY on Sushiswap x Polygon

• New liquidity mining program from Alpha Homora

• Earn UMA with BadgerDAO’s DIGG rebasing program (uses KPI options)

• Synthetix offering near triple digit APYs for providing stonk liquidity

What’s new 📰

• Crypto Twitter donates $800K to child diagnosed with leukemia (love this)

• PleasrDAO apes into digital art by TOR Foundation for $2M

• Zapper raises $15M to build out crypto portfolio management platform

• Aave teases institutional lending pools 👀

• Maker Foundation takes another step towards dissolution

• xToken suffers exploit

• Binance plans to launch NFT marketplace in June

• Paraswap raises $3M for DEX aggregator

• Introducing Malt—a new algorithmic stablecoin

• Brooker Group holds BTC and plans to invest $50M into DeFi

• Binance donates tons of liquid oxygon to help with India Covid Relief

• Dapper Labs is being sued from the NBA over NBA Topshot

• 39M US households may get up to $3,600 in monthly stimulus (oh boy)

What’s hot 🔥

• Ethereum is now more secure than Bitcoin

• Vitalik donates $500M in dog tokens to Gitcoin (and a lot to India Covid & others)

• Justin Drake attempts to value ETH based on tx fees (spoiler: it’s bullish af)

• Total crypto dollar supply nears $100B (growth is insane)

• Sony files for patent to allow in-game BTC payments

• Market is underestimating the amt of institutional money waiting to buy ETH

• MakerDAO crosses $200M in annualized revenue (bullish for MKR)

• MicroStrategy purchases another $15M worth of BTC (just another week)

• Only 39% of Bitcoin mining comes from renewable energy

• Liquity Protocol crosses $4B worth of ETH locked (people like free loans)

• Gitcoin crosses $20M in OSS funding

• Dog tokens got wild last week (and Vitalik rugged them!)

• The average crypto holder is 38 (older than expected tbh)

Money reads 📚

• BTC maxi on why ETH will win as a SoV - Michael McGuiness

• The rise of micro-economies - Cooper Turley

• It’s time to decentralized Gitcoin - Kevin Owocki

• Bitcoin is civilization - Balaji

• Business tips from the person that created Amazon Prime - Chris Hladczuk

• Good analysis on DeFi blue chips - Block49 Capital

• Media DAOs: Come join the collective - Richard Patey

• Ethereum first quarter results (great idea) - James Wang

Governance ⚖️

• Aave proposal & risk assessment on adding Lido’s stETH

• Aave proposal to add support for MATIC

• Bankless DAO proposal for second badge distribution passes (get your badges!)

• Balancer proposal to authorize Gauntlet to control Price Oracles (re: partnership)

• Curve proposal to support liquidity incentives for L2 & sidechains

• Maker executive vote to adjust parameters (KNC stability fee to 5%)

• Vitalik proposes UNI to become oracle token

• Yearn continued discussion on Governance 2.0

• Yearn proposal to integrate vaults with Nexus Mutual insurance coverage

• xToken proposal to compensate users affected by hack

WHAT I’M DOING

Check out a few cool things I’m capturing right now in crypto

• Ryan: Wrote this post then gave some opening remarks on the first DAO community call—200 people attended! Crazy how fast the community is moving.

• Lucas: Trying to keep up with Bankless DAO! So much discussion going on within this community. Last week we sold our first NFT for 1 ETH. Now we’re doing the first merch drop. Tons of progress being made every day—very proud of the community.
  

WHAT YOU’RE DOING

What’s the coolest thing you did in crypto last week?

• @Lucasmanuel_eth deployed the Maple Finance contracts

• @Chainlinkgod watched Vitalik & Elon rug pull 2 communities

• @geekman learned about different staking providers

• @NextAlpha2 continued to LP for the Lido x Curve pool

See the rest here!

Extra Credit Learning

• (Beginner) A digestible explanation of EIP 1559

• (Intermediate) The advantage of single vault AMMs

• (Intermediate) How to approach DAO treasuries

• (Intermediate) Last minute guidance on crypto taxes

• (Intermediate) The importance for composable wallets

• (Advanced) State of blockchain funding

• (Advanced) Exploring token economic design

Some recent tweets…

It’s a tough choice…

michaelwong.eth 🦇🔊 @wongisrite

May 15th 2021

52 Retweets650 Likes

Actions

• Execute any good market opportunities you saw

• Listen to Crypto, Legacy and Value with Mark Yusko

🙏Thanks to our sponsor

Balancer

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Sponsorship paid for by Balancer Labs🚀

Want to get featured on Bankless? Send your article to submissions@banklesshq.com

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.