Crypto Gems

ROLLUP: 3AC Further Contagion | dYdX Leaves Ethereum | Huge Uniswap Acquisition


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4th Friday of June, 2022

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📣 NOTIONAL | Real DeFi Yield
https://bankless.cc/Notional

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👻 AAVE V3 | LEND & BORROW CRYPTO
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⚡️ LIDO | LIQUID ETH STAKING
https://bankless.cc/lido

🔐 LEDGER | NANO S PLUS WALLET
https://bankless.cc/Ledger

——
Topics Covered:

0:00 Intro
1:25 Markets
1:30 BTC Price
2:20 ETH Price
3:45 ETH BTC Ratio
4:40 Crypto Market Cap
ETH Gas Markets
https://dune.xyz/hildobby/Gas
6:00 BTC Fell
https://twitter.com/DocumentingBTC/status/1538191897977569281
7:00 GPU Markets getting flooded!
https://twitter.com/hms1193/status/1539172196983230464

11:33 Voyager
https://twitter.com/tier10k/status/1539578302289117185
https://twitter.com/investvoyager/status/1537919249594732544
18:30 BlockFi Raise Troubles
https://twitter.com/fintechfrank/status/1537869616499896320
https://twitter.com/BlockFiZac/status/1539216594383028224
https://twitter.com/fintechfrank/status/1537869616499896320
3AC Contagion Backstopped by FTX

19:57 dYdX V4 on Cosmos
https://dydx.exchange/blog/dydx-chain
26:20 Tweets from Antonio
https://twitter.com/AntonioMJuliano/status/1462455087826030597
https://twitter.com/AntonioMJuliano/status/1462455083719823363
28:16 Polynya Take
https://twitter.com/epolynya/thread/1539615550271156225

32:30 Uniswap Acquires Genie!
https://twitter.com/Uniswap/status/1539306956002820096
https://uniswap.org/blog/genie
34:14 ICYMI
https://youtu.be/9fqJzS08pPc

36:20 NEWS
36:47 Arbitrum Odyssey Campaign
https://twitter.com/arbitrum/thread/1537942315871793154
https://twitter.com/arbitrum/status/1537942325577428993
40:05 William Peaster Article
https://newsletter.banklesshq.com/p/arbitrum-odyssey-begins-
40:23 DeFi Down Bad
Controversial Solend proposal
https://realms.today/dao/7sf3tcWm58vhtkJMwuw2P3T6UBX7UE5VKxPMnXJUZ1Hn/proposal/HuaL6cDtuNtfnJgvwMnYiZDHVCoLAuDtVFgJD8kYChJ4
https://twitter.com/FatManTerra/thread/1538448035885240321
44:45 Bancor Pulled the Plug on IL Protection
https://blog.bancor.network/market-conditions-update-june-19-2022-e5b857b39336?gi=b4ee96b34923
46:01 Spicy Hasu Take
​​https://twitter.com/hasufl/thread/1538774433359441920
49:49 Merge Watch
https://twitter.com/nethermindeth/status/1538830020491333635
51:00 New Lido Validators
https://twitter.com/LidoFinance/status/1539322089794043904
51:45 Swell Testnet
https://twitter.com/swellnetworkio/status/1539506486199480320

54:33 NFTs
54:34 Cryptopunks!
Christie’s Web3 Expert Leaves Auction House to Run CryptoPunks for Yuga Labs
https://www.coindesk.com/business/2022/06/19/christies-web3-expert-leaves-auction-house-to-run-cryptopunks-for-yuga-labs/
https://twitter.com/NonFungibleNoah/thread/1538584141419143168
https://twitter.com/nansen_intern/status/1538602437510152196
57:16 Pharrell as Chief Brand Officer of Doodles
https://decrypt.co/103503/doodles-nfts-announces-pharrell-as-chief-brand-officer-fundraise-led-by-alexis-ohanian
57:35 TIME x Sandbox Partnership
https://twitter.com/CryptoGucci/status/1539360336620437504

1:00:20 MISC
1:01:00 Elon Musk accused of Dogecoin Ponzi
https://www.theblock.co/post/152538/tesla-ceo-elon-musk-accused-of-dogecoin-ponzi-scheme-in-new-class-action-lawsuit
https://twitter.com/RyanSAdams/status/1537513636071100417

1:02:10 Jobs
https://pallet.xyz/list/bankless/jobs

1:04:10 RELEASES
1:04:13 Immutable X $500m Developer & Venture Fund
https://twitter.com/Immutable/status/1537768342739890176
1:05:00 Tether releases British Pound Stablecoin
https://www.theblock.co/post/153447/tether-british-pound-stablecoin-gbpt

1:06:30 RAISES
1:06:33 Ex-Sushi CTO Raises $8M for NFT Lending Platform Astaria
https://www.coindesk.com/business/2022/06/20/ex-sushi-cto-raises-8m-for-nft-lending-platform-astaria/
1:08:28 Magic Eden raises $130M
https://techcrunch.com/2022/06/21/magic-eden-raises-130m-hitting-unicorn-status-at-1-6b-valuation/

1:11:15 Community Questions
https://twitter.com/WEBthe3rd/status/1539668101390045184

1:16:00 TAKES
1:16:01 Digital Tattoos
https://twitter.com/Smooch_Axie/status/1537536182309081095
1:17:49 DeFi Legos vs CeFi Dominoes
https://twitter.com/AnnaRRose/status/1537809640607649795
1:18:40 Coinbase Dicking Around
https://twitter.com/pythianism/status/1537474024351051776

1:20:49 What Anthony’s Bullish On
https://thedailygwei.substack.com/
https://www.youtube.com/c/TheDailyGwei/videos
1:23:00 What David’s Bullish On
https://twitter.com/BanklessHQ/status/1539663872331620352

1:24:10 MEME of the Week
https://twitter.com/CryptoKaleo/status/1537574446998949888

—–
Not financial or tax advice.
https://newsletter.banklesshq.com/p/bankless-disclosures

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37 Comments

  1. DyDx to Cosmos is the wake up call that Eth maxis can't hear.
    Other benefits of the switch not discussed:
    – Decentralised control of the platform and all underlying programming.
    – Modular upgradability (IBC module, inter-chain accounts module, privacy module, Cosmwasm smart contract module etc)
    – Lots of other layer1 apps to interact with (Osmosis Dexchain, Secret network privacy chain, etc) 

    In terms of security, a shared security module will be released in fall which allows security from (multiple) other Layer 1 appchains to be added on top of their own validator set. So the level of security and shared security is at the discretion of the token holders. The wider Cosoms ecosystem represents decentralisation on a larger scale that can be achieved on one single layer 1 like Ethereum. Its funny how Eth people see everything beyond Ethereum as the 'wilderness'. There is much a different perspective in Cosmos on decentralisation, rather than one single imperial system, people there see a large network of republics with whom they can interact and cooperate with as they please. People can focus on their specific trade/appplication/product a lot more, to attract users/devs to use/plug into their chains. 

    Picture an artisanal market (Cosmos) where people cn choose what seller they buy stuff from Vs a Walmart (Ethereum) where everything is there, but there is only one seller (Walmart).

  2. Hoping you all learn something about Cosmos from talking to Antonio, you both seem like you need to.

  3. You don‘t really have a clue about Cosmos Atom tech huh? It‘s vastly superior to ETH in every way

  4. Who is this other guy? Why isn't his name in the show notes anywhere? I want a link to his show

  5. This dude was a neat change of pace, although I absolutely love Ryan! (didn't know he had children, but on second thought he seems like the ultimate dad archetype 🤔)

  6. Honestly a lot of responses from Antonio regarding dydx chain seem very handwavy. No blocktimes can match the orderbook latency of a centralized orderbook today, much less chance a standard tendermint consensus can.

    They are basically saying what they want to do can't be done in any other chain, but somehow they have figured it out. Skepticism is healthy here imo, it seems to me the reason is a lot more of regulatory(turning it into a network staking token instead of governance) than technical

  7. Soulbond is non-transferable and non-tradeable. How can it be sent to the burner address from the wallet?

  8. They make such a bit fuss about the security of Eth but Eth will be losing a huge part of its security when it transition to PoS.

  9. Lol – these two guys have no clue on cosmos – they have their heads stuck up eth’s ass – Cosmos will have interchain security coming out year. Also the ui/ux will be better on cosmos than eth.

  10. It's a bit disappointing to hear your dismissive take of the DyDx -> Cosmos migration.
    To display true intellectual integrity, I would expect you to "steelman" the DyDx position and to present its merits.

    Who knows, Anthony might end up being right in the end (or completely wrong), however I expect better from you.
    DyDx is one of the most successful EVM projects of all time, they have some seriously talented technical folks and builders, and I think they've earned enough respect to at least engage with their arguments openly and constructively.

    Instead, it seems like Anthony is just trying to hastily tear them down, on the basis of "regulatory" reasons that are complete speculation on his behalf, plus a personal dig based on an old tweet that is not relevant.
    You shouldn't tell us WHAT to think, you should give us the best tools to make an informed opinion, and that includes presenting the DyDx position fully.

    I am a giant fan of bankless and I love your show, just sharing this as personal feedback as I felt compelled to do so.

  11. The Bancor inflation from your side of view is just a part of the story. The vast majority of the minted tokens are protocol owned and this token supply earns fees and burns BNT. This would theoretically cover IL, however the token shorting and subsequent withdrawal of large amounts of funds to piggy bank on the token wasn't considered.

  12. The reason why gamers don't want GPUs that have been mined on is because you can run into issues with 'artifacts'. A good majority of cards are factory overclocked and running them 24/7 can cause problems that you may not notice while mining. Buying a card that has been used to mine can create unnecessary hassles, and many do not want to deal with an RMA.

  13. Wow 2 eth maxis not agreeing with a protocol leaving ethereum…shocking. I don’t agree with it either tho lol

  14. i don't get why nft marketplaces are a thing. they are mere curators. sure there's a brand, but that's not much.

  15. The same shonks that were scamming in tradfi just moved over to crypto to fleece a whole new demographic.

    Just a new tool for old shonks.

  16. Thanks for another great video. I'm going to offer some constructive criticism though. Y'all sound like some Cosmos haters tbh, and it sounds like you haven't done adequate research on the development of the Cosmos ecosystem. The decision is not "all about sovereignty", and one can use one wallet to access every Tendermint chain. That's not difficult… It's just as easy as using Metamask for ETH and ERC-20 tokens. One can simply buy ATOM on literally any relevant exchange, so you don't need to bridge. If you want to trade ATOM for DYDX, you can simply use a decentralized exchange like Osmosis. Cosmos is not your enemy. It's just a different solution with different tradeoffs, and the devs are working towards improving upon its shortcomings, just like ETH devs, SOL devs, and so on…..

  17. Buy my gplay coin, it's a decentralized DeX on a layer one algorithm based dao with consensus, it's going to revolutionize the industry, and I guarantee you will get rich.

  18. Turns out defi and cfi was air and all these people were degenerate gamblers literally using customer's money to gamble on leveraged position. So frustrating. BTC is the only real decentralized network it seems. Everything else was a ponzi…

  19. Sassano understands ethereum and their scaling roadmap better than the founder of dydx. It’s honestly a stunner that he didn’t reach out to sass for a consultation before making this move

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