Bankless DAO’s Season 0 NFT auction is now live! Bidding closes today at 2pm EST. 🏛️ 💰

View Season 0 NFTs

Dear Bankless Nation,

Bitcoin is now officially legal tender in El Salvador. No matter what you think of this development you have to agree—this is pretty historical.

June 2021—the first non-sovereign currency is recognized as legal tender by a nation state.

While El Salvador has only $28B in GDP and a population of 6.7 million, it’s the legitimacy of this action that’s matters. The first domino has fallen.

Michael Saylor pioneered BTC in corporate treasuries (followed by Tesla and others). El Salvador is now doing this at the nation state level.

So who’s next?

We may be seeing see other Latin America countries start to create a path to crypto adoption. Bitcoin is first. Are stablecoins and DeFi next?

If you’re an emerging economy what’s the value of getting a banking system in a box? That’s how I’d describe DeFi.

Unfortunately, elevation to the world stage brings additional scrutiny. Senator Elizabeth Warren was quick to bash crypto this week. Not a lot of nuance in her statements. Is El Salvador causing the final boss to poke up it’s head again?

Are things about to go faster from here on out?

Things happen when the status quo is threatened.

We’ll explore this a bit next week…

• Nic Carter is coming onto State of the Nation to discuss El Salvador

• William’s diving into Balancer V2 (lots of good opps here)

• Ben’s breaking down the Yearn, Curve, and Convex situation

Also…our episode with Bitcoin podcaster Preston Psych goes live Monday. Can Bitcoiners and Ethereans have an adult conversation for once?

We did our best. 😉

- RSA

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

Recap for the week of June 7th, 2021

🎙️WEEKLY PODCAST EPISODE

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

ACTION RECAP

1. Execute any good market opportunities you saw in Market Monday

2. Borrow against your favorite NFTs

3. Explore UNI….the oracle token? 🔥

4. Earn high yields on your BTC

5. Discuss the El Salvador Bitcoin news

Watch & Listen

1. 🎙️ Listen to Bull Case for DeFi II | Vance Spencer 🔥

2. 📺 Watch SotN #49: State of the Charts | Ledger Status

3. 📺 Watch Panel: Vance Spencer, Santiagos Santos, and Spencer Noon 🔥

4. 📺 Watch Rollup: El Salvador | Elizabeth Warren | Bitcoin FBI | Layer 2s

METAVERSAL 🧙‍♂️

1. The NFT Bear Market is 🔥

2. NFTs are coming to Aave

3. How to sell on Aavegotchi Bazaar

BANKLESS DAO 🏴

1. Bankless DAO weekly rollup #5 🔥

2. Season 1 Proposal

3. BANK tokenomics discussion

4. Rewarding Season 0 Active Community Members

Weekly Subscriber Perks 🔥

Bankless subscribers get access to perks like these:

• Exclusive: DeFi Verticals Debrief | Vance Spencer

• Full access: Reflections on Miami

Launch your own raffle for Bankless Badge holders! Could be good marketing…

Get Bankless Badge

📺 Episode 49 of State of the Nation

🎙️Listen to Podcast Episode | 📺 Watch the Episode

We’re now live streaming State of the Nation—join us at 2pm EST every Tuesday!

🗞️ Latest Weekly Rollup.Download the crypto meta to your brain in this weekly show.

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

Go Bankless. $22 / mo. Includes archive access, Inner Circle & Badge—(pay w/ crypto)

🙏Thanks to our sponsor

Aave

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

Aave is a , 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.

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

This week’s panel was big brain stuff….listen to it.

Ape Loves Oatmilk🍌 @lovesoatmilk

Big Brain content on the Current State of DeFi 👏 @BanklessHQ never disappoints. They got me into crypto via Welcome to Bankless (2021 Edition) - 3 hours well worth it. I have many other favorite episodes. I can keep talking. Go see for yourself.

June 10th 2021

12 Retweets136 Likes

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.