Level up your open finance game three times a week. Subscribe to the Bankless program below.
Dear Crypto Natives,
We did a reality check on crypto banks this week. The truth is, we don’t have a good way to know if they’re solvent. On the other hand, money protocols have 99 problems but proof-of-solvency ain’t one—everyday is proof of key in DeFi.
Speaking of reality checks we also did one on the cash flows of chains that aren’t money. Seems their P/E ratios say they’re way overvalued. Monetary premium or bust!
Next week’s lookin 🔥. Tuesday’s tactic will show you how to tokenize yourself. In Thursday’s piece we’ll look at Ethereum’s path to trillions.
Level-ups coming at you fast!
-RSA
People ask—how can I help get more people in DeFi? 👇
Send 1 DAI to help someone go Bankless 🎁
Gitcoin’s running a grant match and if you send 1 DAI to the Bankless grant I can give $14 worth of Bankless subscriptions to people who need them. As I write this:
You give $1 and they’ll add $13
It gets better. The way quadratic funding works, we get a higher match with a bunch of tiny donations instead of a few big ones. So $1 is 13x matched now, but if a bunch of you send 1 DAI the next $1 given could be 30x, 150x, or 300x matched.
If enough of you do this it could mean:
You give $1 and they add $30…$150…maybe $300
This is a 3x win.
Win 1: More people going Bankless
Win 2: The funds improve the program for everyone
Win 3: Every $1 gets massively amplified by the matching (10—300x!)
Oh, and you get to level-up on quadratic funding. 🔥
👉Get 1 DAI, open MetaMask, & fund the Bankless Scholarship Grant now
(Scholarships prioritized for students & community nominees)
Recap for the week of January 5th, 2020
SCHEDULE RECAP:
- (Monday) Every day is proof of keys for DeFi - capture
- (Tuesday) How to think about crypto P/E - implement
- (Thursday) A crypto banking reality check - calibrate
ACTIONS RECAP:
- Execute any good market opportunities you saw in Market Monday
- Complete weekly assignment: Lock away some ETH (for fun!)
- Look at P/E ratios on TokenTerminal
- Which cryptoassets are overvalued or undervalued according to their P/E ratios?
- Consider: what trust assurances do you have on the deposits in your crypto bank?
Subscribe to the Bankless program. Inner Circle, Deal Sheet, Bonus content. Costs less than a coffee per week. Don’t invest in crypto until you invest in yourself.
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Tag me on twitter when you subscribe & me how you’re going bankless for 3 x 🔥
Bankless is so disruptive the banks don't want you to read it…
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.
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