📺 ROLLUP: Jack Dorsey vs Web3 | Apes Flippening Punks | Weeknd NFTs | SOS & GasDAO Airdrop | FEI RARI

i'm just excited about next year i'm excited about 2022. excited about crypto bullish crypto david you believe that i'm bullish crypto yeah hey bankless nation it's friday morning happy new year to you well it's almost new year i guess it's uh new year's eve day that david and i are recording this uh and uh it's roll-up time david well actually i stole your thunder what time is it david oh it's roll-up time ryan thanks for stop following that one to me yeah i know it's time to roll up the whole entire year uh actually we already

did that but this is going to be the last roll-up of 2021. we are covering the last two weeks so there's a lot to cram in but also it's one of those times of the year where there's kind of quiet so it might actually just be the same kind of length same rollup covering two weeks but about the same amount of stuff hopefully and hopefully we can get this done in a reasonable amount of time we were really really good at it last time we'll see if we can do it again so some of that stuff we're going to cover is shopify they just opened up their platform to nfts that's really cool it's also been like airdrop week for the past

week and a half everyone's dropping coins uh you know i guess right before the the new year i don't i don't know why but we'll talk about some of those airdrops that are coming also the biggest protocol merger ever was just approved this week uh two big d5 protocols teaming up we've also got like old brands like radio shack they are entering the d5 space and uh yeah yeah good question we'll get into that and also jack dorsey versus web three a tesla on twitter i'm gonna talk about that too so a lot of things going on in

the holidays as well and once again we will roll this up for you and talk about each of those with uh some additional things um before we do david let's talk a little bit about cash flow cash flow all right yeah so cash flow is like this defy otc desk uh what is an otc desk david and what does this protocol do yeah an otc desk is if you have a big trade if you're a trading firm or just you want something just to have your price be optimized an otc desk is where you go you throw them a bunch of money

and then they get you back your trade back to you at an optimized price cash flow is that but as a defy app otc d5 so they work with they work with you to automatically get you the best price on your trade as well as things like mev resistance front running resistance and just a number of other things to make sure that you get the best price when you make your swap so you can check them out at app.hashflow.com that's pretty cool for whales too and rumor is they are issuing a token as

well we'll get to that a little bit further in the roll-up uh all right david well let's talk about bitcoin as we get into the markets the markets this week for bitcoin and uh david why don't you give us like the the two weeks we usually do uh just one week but what's uh the the two weeks highs and lows look like yeah two week we started this uh two weeks ago at 48 000 we are currently at 47 300. so over two weeks we're down 700 with bitcoin hit a low of 46 000 hit a high of 52 000 overall down three percent over the two

weeks just down three percent it felt like it was down more maybe that was because of uh either price has been down and it feels like a lot more what's uh the last two weeks been for ether yeah two weeks ago ether started at four thousand dollars hit a low of three thousand six hundred and fifty dollars a little bit surprising uh how low that got um it's it's high during that time period was four thousand one hundred fifty we are currently at three thousand seven hundred and fifty so overall down six percent over the two week period um my take on this is this is just low liquidity shenanigans uh this is the the

end of the year all the traders and and market makers and all institutions that place bids and asks on on exchanges just you know they take a break too uh and so just the the markets are very very low liquidity in a low liquid uh state towards the end of the year and so this is a ripe opportunity for whales to play some whale games that i suspect that that's kind of what's going on here i don't really treat these numbers it's real i'm gonna wait until the first week of january to uh to actually re reaffirm the actual what the real prices are i feel like retail's taking some time off

too like retail isn't really uh bidding these things up either they're just kind of letting it happen so maybe that's uh what's going on as well um but i'm i'm kind of glad that we're not ending the year in euphoria territory to be honest like i feel like this tees us up for next year and i'm anticipating a big year next year bullish going into 2022 how about you oh absolutely and you have the the one month chart pulled up on on ether right now and it's a bad one-month chart yeah that is bad actually starting the month at four thousand seven hundred dollars ending the month at three

thousand seven hundred dollars so down a thousand dollars on the free month looks okay though three month looks great yeah so it's uh starting the three month at three thousand two hundred dollars hitting the high of four thousand eight hundred dollars and ending at three thousand seven hundred dollars uh just a a crab crab two months slightly up three months bearish one month overall just like a quieter market than what we have been used to so i think that's setting us up for a fantastic january well we're looking at let's look at the year 730 dollars at the start of um this year and

uh now we're three thousand seven hundred so not not a bad way to uh to finish it um but also not euphoric right like things didn't get crazy last year so maybe we'll serve uh save some the craziness for next year how about the ratio what's that doing yeah ratio also down down with the market as well is down to 0.086 uh so kind of broke through that .08 number but still overall in a satisfying place if you uh believe in the flipping hmm do you believe in the flipping sir oh

yeah definitely a core believer in the flipping founder of the flipping belief uh how about the bed index all right this is a third a third a third d5 bitcoin and ether uh we must be down on the two weeks uh we are down 18 on the one month the last two weeks have been flat or ish i think we're down at roughly six dollars from 141 to 135 where we are now okay there we go uh let's talk about decentralized exchanges though while we're on markets david because if you aggregate this and

look over the year this has been an incredible year for decentralized exchanges over one trillion dollars in trading volume activity in 2021 absolutely phenomenal you can see this chart this is kind of the compilation uh you see a lot of uniswap here um from v2 and and v1 also sushi swap curve um there they're about 14 others kind of a long tail of dexa's uniswap by far the most dominant but what an incredible year for decentralized exchanges i remember not too long ago

people said that decentralized exchanges would never take off right it's like because you couldn't host an order book on ethereum it was too slow um and that wasn't that long ago that was like you know 2017-2018 0x was trying to make it in that world and really just couldn't and now decentralized exchanges like they're just taken for granted but this is something that has uh totally burst onto the scene and what an incredible year one trillion in trading volume yeah dex is breaking through coinbase's

volume numbers on a 24-hour or even a weekly basis is now like kind of feels like normal next volume numbers don't make big headlines anymore people are just assuming that they are the things that just carry us into the future when it comes to markets yeah so i mean the next milestones to breaker it's like nasdaq right yeah it's like wake me up when dexes are bigger than the nasdaq and and um you know uh new york stock exchange i'm not gonna call that okay i got my predictions but that's not one of them

yet um not for 2022. uh let's talk about urine finance so this is the why the yfi token the protocol behind the yfi token it had a pretty good week despite d5 collectively being down soared over 85 percent one week and the reason is token economic changes okay governance put together a few ways to juice the wi-fi token or to uh deliver more value to to token holders one of those ideas that went forward through governance

is the ability to stake yfi tokens in exchange for xyfi tokens and then holders would receive additional wi-fi and urine would buy that wi-fi in the open market so it's almost like an open market operation in exchange for a staking wi-fi they also are considering implementing a model that's based on curve finance where the more you wi-fi you lock up the um the greater rewards that you get in in wi-fi tokens

as well there are a number of other things but i think the big takeaway here is like um this is sort of what we anticipated every every token protocol is very much incented through its government process to start capturing the value that's accrued by its protocol by its token and sometimes this happens during bear markets this will also happen during during bull markets but every defy token is going to do this this is why i'm not worried about token value capture long term as long as it's

governed by individuals with a profit incentive and they all are uh what are your thoughts on this david yeah there's this inevitable friction behind the value that a protocol offers to the ecosystem and then the actual valuation of the token on the secondary markets those things those things are separate things and the field the domain of knowledge that we are calling tokenomics is about how do we get those things more aligned how do we get those things to overlap rather than be separate and urine has really struggled with this throughout 2021 where i think it's more or less

been flat versus the dollar and then absolutely got smashed versus eth in 2021 just because the tokenomics were a point of contention as people people would consider urine a very valuable protocol offering a very valuable service and the value of the token would could not capture that value and so naturally as ether has like you know 5x and urine has stayed stayed flat why api is 8 flat there's a growing incentive for the for everyone to figure out like all right how do we more closely align

the value of the protocol with the value of the token so this is an attempt at that there's a little bit of like pumpamentals or ponzinomics in here but kind of that's that's what tokenomics are how do we align the value of the protocol with the value of the token on the secondary market and these changes created an 85 percent wi-fi price increase and so the market so far seems to agree that these are good changes yeah absolutely i do think other tokens are going to do this as well so uh this is the this is the final form the final state of all d5 tokens uh guys we will

be back with the releases of the week but before we do we want to thank the sponsors that made this episode possible arbitrary is an ethereum scaling solution that's going to completely change how we use defy and nfts and now it's live and has over a hundred projects deployed gas fees on ethereum l1 suck too many people want to use ethereum and it doesn't have enough capacity for all of us and that's why teams like arbitrary have been hard at work developing layer two solutions that makes transactions on ethereum cheap and instant arbitrary increases ethereum's throughput by orders of magnitude at a

fraction of the cost of what we are used to paying when interacting with arbetrom you can get the performance of a centralized exchange while tapping into ethereum's level of security and decentralization this is why people are calling this ethereum's broadband moment where we get to add performance onto decentralization and security if you're a developer and you want to save on gas costs and overall make a better user experience go to developers.offchainlabs to get started building on arbitrom and if you're a user keep an eye out for your favorite defy apps being built aren't arbitrary many d5 applications on

the ethereum l1 are migrating over to layer twos like arbitram and some are even skipping over the layer ones entirely and deploying directly on layer two there's so many apps coming online to arbitrarily so go to bridge.arbitrum.io now and start bridging over your eth or any of the tokens listed and start having the defy or nfc experience that you've always wanted alchemix is one of the coolest new defy apps on the scene it introduces self-paying loans allowing you to spend and save at the same time deposit the die stablecoin into the alchemix vault in order to get an advance on the

interest it generates borrow up to 50 of the total amount of your deposited die in the form of al usd stablecoin here's the craziest part the loan pays itself back and you cannot be liquidated unlock your assets potential in the ultimate defy savings account and brand new to alcmix is the eth fault where you can deposit eth into the application borrow al eth against your deposits while having your advance gradually paid back over time v2 is rapidly approaching which will

allow for even more collateral types plus a variety of yield strategies to choose from harness the power of alchemix at alchemix.fi that's a-l-c-h-e-m-i-x dot f i follow alchemix on twitter at alcomixfi and join the discord to keep up to date with alchemixv2 and to get involved in governance all right guys we are back with the releases of the week let's start with this one shopify plus nfts shopify massive e-commerce protocol platform plus nfts the ability

to sell nfts just spin up a shopify store and sell your own nfts that is coming that is now here what do you think about this david yeah on their page they say mint and sell your own branded nfts with shopify and shopify payments right from your store join the nft beta program today so shopify already out of the box has like half a half of an nft platform ready to go all that's missing are the actual nfts and seems like that's what's here today now uh and so shopify already a digital ecommerce store like integrating digital

products into your digital ecommerce store seems pretty trivial as far as things go uh and so it seems like they're they're diving head first into nfts the url for this is shopify.com nft uh so relatively easy if you wanna go check that out yeah it's it's super cool there's so many wins for existing like web 2 platforms in the nft movement and this is just another win and this provides another fiat on ram directly to nfts so it serves consumers as well bullish that great to see shopify diving in i mean they're absolutely massive and

they've grown like crazy recently uh david let's talk about the browser game so opera is doing a big move here what are they up to opera the browser of course yeah opera is integrating polygon polygon applications and the matic token are integrated directly into the browser coming in q1 so like in two days um uh well q1 starts in in two days i don't know if it coming in two days sometime in q1 and they say get ready to benefit from the fast scalable nofi environment of polygon and access over 3000 apps on the polygon network so polygon

integrated right into opera which is a pretty interesting choice because you know polygon isn't everything about crypto there's stuff elsewhere but opera has decided to not integrate ethereum not integrate you know arbitrary optimism just only select polygon for now um pretty interesting choice um but uh definitely makes sense because you know you got to have something scaled in there uh so but congrats to the polygon team and and also really awesome to see opera moving forward into the web3 world and i wonder what this integration will look like i know it's it's particularly

aimed at their their mobile device and i know opera has a wallet as well so i wonder if this is just like a seamless browser to adapt to defy app sort of experience inside of the inside of your mobile browser and if so like that's awesome that is uh that is super bullish i've been looking for like more seamless integration between crypto native applications and the browser like right now we're doing it through extensions and third parties but like what if it was completely integrated if it was just there's there's no need it there's no a

fundamental need for it to be like a whole separate application inside of a browser like it could be part of a browser and i wonder if this is what opera is pushing towards love to see chrome firefox the other browsers uh follow suit but they seem a little sleepy compared to opera opera is like hungry for market share right absolutely let's talk about this david uh clarity dao this is a new coordination and information management tool for dallas lots of dow infrastructure being built out these days this is a way for

dao contributors to solve the access control problem so it's the ability to i think you know segment cert access to certain things within a dao to an ethereum username so if there's some piece of content on a web page or maybe there's there's a discord server and only certain white listed dow participants should have access to it i think this provides a way to provide access control and and segment that access to particular ethereum username so it's sort of a sign

in with ethereum type of application here specifically targeted at dals yeah it sounds like it's a google g suite like uh some admin management tool uh with you know permissions and lets you access different parts of the drive but instead of the drive now it's the dow um makes sense yeah it makes sense and uh good to see that stuff being built out um parachains also officially launched on the polka dot network david what is uh what is this about yeah paratrains are polka dots big

that's their big thing that's their big innovation kind of some sort of hybrid between uh sharding and roll-ups but built inside of polka dot it's been the the flagship uh feature of polkadot since uh since inception uh and now it's finally here so congrats to polkadot five pair chains went live i think of these sort of as rollups what's interesting about these is um you actually have to the pair chains actually have to bid for a slot they're not just like you can't uh permissionlessly just start using polka dot you actually have to bid in dot

tokens for one of these slots and so these first five pair chains that that successfully bid they went live all told it cost about 99 million dots i believe that was garnered by these five projects during the auction period that's 2.4 billion dollars not sure all of the details how that works but it's definitely a different and interesting mechanism as compared to ethereum roll-ups um david what's this bitmex is announcing a token okay i thought bit max was the anti-token what are they doing here yeah for those that came into

crypto in 2021 you might not be familiar with with bitmex it has a pretty long track record bitmex is a centralized exchange for uh margin and leveraged trading it's it's kind of been known to be like the casino uh just like where people just go a hundred x long on bitcoin and inevitably get wrecked or not or maybe or they get riches it was like david it was like the d-gen playground before d5 became the d-gen playground yeah yeah that's exactly right yeah before before d5 and then also before binding smart chain kind of

took over the casino thing um but yeah bitcoin it was famously bitcoin only for the longest time arthur hayes uh was like on on the run from i think the cftc or the arthur hayes the founder of bit max there's a long back story um ever since uh bit mex ended up getting um i'm not sure like charges from the cftc or some three-letter agency they've kind of taken a new uh turn new turn and what was formerly a very like bitcoin centered ecosystem is now

issuing a token which like previously was blasphemous coming from uh the the leaders behind bitmex but now bitmex has a token it's basically a loyalty token um some sort of like kind of like airline miles but specifically for the bit max exchange uh so the bmx token is out and live the interesting thing is like why not right i mean like why not issue a token and and see what happens i guess uh that that's their play on it and i think they're they're trying to revive some retail interest right so give some retail users a reason to continue using

bitmex and compete against the ftx's of the world and the finances of the world who've really taken center stage over the last couple years and leapfrogged bitmex uh let's talk about this so hashflow is issuing a token as well we were talking about hashflow earlier in the uh introduction that's that otc d5 protocol what are they up to here david yeah they're issuing a token so if you have traded on cash flow or contributed to the community and early on uh do you own a hashbot nft for example uh then you might have the hft

token uh and so that's the cash flows governance token and will be able to free to claim uh towards the end of january uh and so stay tuned if you are a hashful ecosystem participant you might have a token coming your way at the end of the month there you go uh more fiat on ramps to arbitrarium this one from huobi who is a centralized exchange now they are allowing deposits and withdrawals for eth directly to and from arbitrariums kind of cool what are your thoughts here yeah knocking them down we need more more and more and more i this is good

news and i want 50 more news items like this over the next like month it's coming though in 2022 right like including coinbase that's the big one i've been waiting for yep coinbase about coinbase q1 2022. okay is that a prediction is that official david hoffman's addiction that's enough god the last time i did this i did not end well certified fresh yes david officials david hoffman prediction coinbase uh on and off ramps onto an ethereum layer two in q1 2022. there you have it folks he took the bait we got him now i'm

texting him i'm texting brian right now he's like brian please please brian tweet outstanding okay raises this week alexis ohanian and polygon they're investing a cool 200 million dollars in decentralized social media alexis ohanian the co-founder of reddit of course venture capitalists he's coming on bank list a couple weeks we're going to ask him about this but uh what's up with this news what's going on yeah there's a lot of just excitement and energy around decentralized social media

platforms while the details on what that means and what that is is still fuzzy uh regardless people are still working on them ave is working on this polygon is working on this um i mean it would be huge for any ecosystem to be like the thing that figured out decentralized social media so there's obviously a lot of reward there for whoever can crack that nut uh and it makes sense for alexis ohanian to be right there he's the guy that created reddit um which is the most you know kind of like it's reddit itself isn't decentralized but it kind of looks and feels like it right

with all the subreddits uh and so it's really really cool 200 million dollars in the war chest to build out some sort of decentralized social media and in a time where we kind of really need it right now ryan we're going to talk a little bit more about that later yeah absolutely have you seen any decentralized social media that uh that you've liked so far like i've tried big clout a little bit and it's just been kind of meh you know i mean i don't even know what like decentralized social media what does that mean like what does the decentralization how does that impact the social media aspect nature of it yeah i don't know i just it's always

been my gut that it's not going to look like the social media platforms of the past it's not going to get instagram but decentralized that's not going to be exactly it's got to be something different i i do think that there's something here but you can't just slap decentralization on the thing and call it uh decentralized social media so we'll see what they have in mind but it's good to see the innovation um talk about this figment they reach the unicorn status wow everyone's a unicorn these days with a 110 million dollar series c figment is a staking services provider they've got some big investors

in the round here including binance what i think is interesting here is david there are there are a number of um probably a couple dozen or so staking service providers figment is one of the larger one there's there's chorus one there's a number of others one called staked was just acquired by kraken we'll talk a little bit about that but interesting to see these just pure staking as a service companies uh accruing such massive valuations so quickly what are your thoughts yeah it's just being a unicorn is just not

the same this this day and age not not after we printed like a bajillion dollars in 2020. uh this is going to be a huge story it already is a huge story but even bigger going into 2022 is staking proof of stake staking uh it was felt like uh 2021 was the year of staking anticipation 2022 is the year of actual staking and seeking services being coming into their full production ready environment because of all the changes that are also coming in to production ready staking uh and so uh just some of the evaluations

on figment stakes and all these other protocols um starting to make a lot of sense well this this wouldn't have happened in my opinion without like alt layer one season completely taking off right it's like because um many of these networks they're semi-active in eth2 staking but not really their bread and butter is like the cosmos ecosystems the solana ecosystems of the world all of those uh alternative layer ones the ecosystems that the individual has a hard time staking on yeah weird how companies to start to feel that niche huh kinda right and uh you're gonna take

on that when it comes to news when we talk about steak but we'll save that for the new section uh b protocol they just did a raise 2.2 million dollars what's d b protocol david yeah b protocol came out of uh the black tuesday was black tuesday black thursday black thursday last thursday yeah when uh the crypto markets got cut in half by like 50 55 such a distant memory yeah that's right you remember that yeah ryan we were recording uh bankless podcast number two that day yeah yeah we stopped the

podcast and we're like oh my god eath gas fees are like 1200 or something right and everyone's getting what's happening yeah so what happened on that day was maker dow had zero die liquidations as in people would pay zero die to bid on the collateral because gas congestion was so high uh no one no one other no one else's bids on underwater maker vaults uh were were going through because gas was so high and also by the way that was novel for the time like gas fees had started to creep up but gas feeds were still not a thing back in february of 2020 like gas

on ethereum was still relatively cheap at that point uh so having gas congestion was uh very new to ethereum and turns out that created an unprecedented scenario with regards to liquidations uh as what happened with uh maker dow so like maker dow got had eight million dollars of collateral that was purchased for zero die which is a problem uh and so b protocol is a solution for this it is basically like a protector around your faults your compound position your maker position

and it when you deposit into maker or compound through b protocol it gives you a like a wrapper of protection it gives b protocol the right to liquidate you before anyone else and so b protocol is a dow that is going to liquidate you at from the most favorable rates without gas fees and you can take part in the liquidation or to have your your positions be protected by b protocol uh really just a great effort here as well uh disclaimer ryan and i are in this angel investment round

very cool all right david let's talk about jobs hey it's a new year just about anyway it's time to consider a job in crypto a new job new job new year new job new outlook on life uh you've been listening to bank list for a long time how about getting a job in crypto um hey no regrets for me man i jumped [ __ ] ship full-time in 2017 my corporate job uh and it's been absolutely awesome i had no idea what i was going to do next and uh in

crypto you just kind of figure it out right like you meet the community you figure out your niche and you go develop it growing industry tons going on here are some of the jobs this week uh first a senior software engineer i'm gilded a founding full stack engineer a founding full stack engineer that's awesome utopia labs senior ios engineer senior back-end engineer at smart d5 community ecosystem lead dydx bitwise still has some positions open nft specialists smart contract platforms and

web 3 research analysts crypto research analyst governance specialist as well at bitwise ahead of growth at dex guru check that out for you marketing types technical lead draftly blockchain developer you got to be specialized in rush rush rust at um solytics as well and we could go on a ton of different jobs for you you can check those out bankless.pallet.xyz grab a job in crypto this year grab a drop in crypto ryan shall we get to the airdrops because there was a lot

of them news time airdrops time yeah let's hit them there's like there's like five or six or maybe seven david but we're gonna hit like the three that are good ones yeah yeah the three that are you know kind of worth claiming maybe uh why don't you start with this one sos token so here's the headline open dow's sos token hits a 250 million dollar market cap despite unclear goals and security risks unclear goals and security risk man does that not just sound like the start of the very beginning of a total air drop

sounds about par for the course yeah what's your white paper unclear goals and security risks the sos token is basically open c but decentralized but a dow is what they are claiming to be so if you ever bought sold nfts bought nfts on on openc you might have an sos token airdrop to you i had my sos token i think i got like .6 ethers worth of sos tokens um haven't done anything with them there you go who knows uh maybe maybe selling for either one of them that just

means david hasn't had time to sell yet how about uh this next air job because that's you know one of three that we're gonna highlight what's this one yeah this is from giveth giveth has been around ethereum for a really long time if anyone has listened to the layer zero with griff green he talked about giveth uh if you have participated in the giveth economy you might have an airdrop you can check that out at dot g-i-v-e-t-h dot io um giveth is uh something that's been uh trying to spread out money and wealth

into the different corners of the world both with giving grants and uh trying to spin up the giving economy uh and so yeah definitely check out that layer zero with graffiti especially if you want to like get a front row seats for the dao and what happened there um and then after that we talked about giveth this is a responsibility token guys a valueless responsibility token so the power to vote uh a cool claim process too i went through and i claimed and you can claim on x die so cost no gas in order to do that so you can plug in your ether address and check to see if see if you