Claim your Bankless Badge if you subbed before May 1st. Bankless DAO has plans for you :)
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.
🤖 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)
Research the state of crypto fundraising with Dove Mountain Data
Lend GUSD on Aave for 5% APY (plus 6% in AAVE liquidity mining)
Claim your FLX airdrop (distribution next week)
Yield Farming 🌾
ALPHA LEAK: How to earn over 100% APY on Sushiswap x Polygon
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)
Zapper raises $15M to build out crypto portfolio management platform
Binance donates tons of liquid oxygon to help with India Covid Relief
39M US households may get up to $3,600 in monthly stimulus (oh boy)
What’s hot 🔥
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)
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)
Liquity Protocol crosses $4B worth of ETH locked (people like free loans)
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 ⚖️
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%)
Yearn proposal to integrate vaults with Nexus Mutual insurance coverage
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?
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…
Actions
Execute any good market opportunities you saw
Listen to Crypto, Legacy and Value with Mark Yusko
🙏Thanks to our sponsor
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Want to get featured on Bankless? Send your article to submissions@banklesshq.com
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.