# Culture Vibes | Market Monday

*Author: Ryan Sean Adams*
*Published: May 17, 2021*
*Source: https://www.bankless.com/fr/culture-vibes-market-monday*

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Dear Bankless Nation,

Remember the day Bankless got [acquired](https://bankless.ghost.io/bankless-acquired-by-wells-fargo/) 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](https://bankless.ghost.io/the-theory-of-bankless-dao/)*)

But a lot of you asked if these hilarious [Wells Fargo shorts](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https-3a-2f-2fbucketeer-e05bbc84-baa3-437e-9518-adb32be77984.s3.amazonaws.com-2fpublic-2fimages-2f5db682b1-b214-48d7-a1db-7e2ac5e07dd3_800x800.jpg) were real. (*They’re not! 😅*)

This gave [Michael Wong](https://twitter.com/wongisrite) 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](https://medium.com/bankless-dao/bankless-metafactory-collaboration-a70ea842b562) the end result is this epic commemorative tee:

You can [get a Wells Bankless Tee now](https://shop.metafactory.ai/products/wells-fargo-tee?ls=RxUEX57RSbaHp5SNLPwT7w)!

This is a timed drop edition—*only two days to buy it*. Closes at on May 18th, 2021.

**THIS WILL NEVER PRINT AGAIN.**

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**🤖***** Alpha leak: **when you [buy the Wells Bankless tee](https://shop.metafactory.ai/products/wells-fargo-tee?ls=RxUEX57RSbaHp5SNLPwT7w) enter your ETH address at checkout and you’ll get 42% of the price back in ROBOT *🤖* tokens.*

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**This is only Drop #1.** I’ve seen plans for future drops…they’re straight 🔥.

You’ll want them all. *[Sign up here](https://cryptoculture.substack.com/p/bankless-swag-drop-1) so you don’t miss anything.*

Scarce crypto culture swag is a big opportunity:

👉 [Read about the apparel partnership between Bankless DAO and MetaFactory](https://medium.com/bankless-dao/bankless-metafactory-collaboration-a70ea842b562)

👉 [Subscribe to Bankless Culture newsletter to get notified on future drops](https://cryptoculture.substack.com/p/bankless-swag-drop-1)

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](https://bankless.ghost.io/while-the-cities-burn-below-market/) a money system by the people for the people.

Let’s spread crypto culture.

- RSA

*P.S. [Last chance for Consensus 2021 tickets!](https://bankless.cc/consensus2021) Ray Dalio talking crypto and David Hoffman talking Ultra Sound Money. Coming May 24th. [Get your tickets](https://bankless.cc/consensus2021) (BANKLESS code for $20 off).*

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#### 🎙️ **[NEW PODCAST EPISODE](https://youtu.be/UEgSq6Rrfb4)**
[Listen in Podcast App](http://podcast.banklesshq.com/) | [iTunes](https://podcasts.apple.com/us/podcast/bankless/id1499409058?ls=1) | [Spotify](https://open.spotify.com/show/41TNnXSv5ExcQSzEGLlGhy) | [YouTube](https://youtu.be/UEgSq6Rrfb4) | [RSS Feed](http://podcast.banklesshq.com/rss)

---

#### **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](https://www.indexcoop.com/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](https://shop.metafactory.ai/collections/fresh-drops/products/wells-fargo-tee) (*sale closes Wednesday)*
- **Swap **[tokens on Balancer V2](https://twitter.com/BalancerLabs/status/1392104054646460417?s=20)
- **Invest **[in the BTC-FLI Index for 2x leverage on BTC](https://twitter.com/indexcoop/status/1392193512318279680?s=20)
- **Research **[the state of crypto fundraising with Dove Mountain Data](https://twitter.com/reganbozman/status/1392515306929545216?s=20)
- **Predict **[future outcomes with Reality Cards Beta](https://medium.com/reality-cards/reality-cards-real-money-beta-live-ab0302265910)
- **Lend **[GUSD on Aave for 5% APY](https://bankless.cc/aave) (*plus 6% in AAVE liquidity mining)*
- **Claim **[your FLX airdrop](https://twitter.com/reflexerfinance/status/1393314933102755841?s=20) (*distribution next week)*
- **Claim **[your Convex airdrop if you hold veCRV](https://twitter.com/ConvexFinance/status/1394280156064194565)

#### **Yield Farming 🌾**
- **ALPHA LEAK: **[How to earn over 100% APY on Sushiswap x Polygon](https://learn.zapper.fi/articles/how-to-earn-with-sushiswap-on-polygon)
- [New liquidity mining program from Alpha Homora](https://blog.alphafinance.io/announcing-new-liquidity-mining-period-for-alpha-homora-ethereum-bsc-3/)
- [Earn UMA with BadgerDAO’s DIGG rebasing program](https://medium.com/uma-project/badgerdaos-rebase-mining-kicks-off-now-using-uma-s-kpi-options-cd75f71dc1fa) (*uses KPI options)*
- [Synthetix offering near triple digit APYs for providing stonk liquidity](https://staking.synthetix.io/)

#### What’s new 📰
- [Crypto Twitter donates $800K to child diagnosed with leukemia](https://www.theblockcrypto.com/linked/104974/crypto-twitter-donates-800000-in-cryptocurrency-to-child-who-had-leukemia) (*love this)*
- [PleasrDAO apes into digital art by TOR Foundation for $2M](https://twitter.com/decryptmedia/status/1393612216411246596)
- [Zapper raises $15M to build out crypto portfolio management platform](https://twitter.com/zapper_fi/status/1394290253230493699?s=21)
- [Aave teases institutional lending pools](https://cointelegraph.com/news/defi-lending-platform-aave-reveals-private-pool-for-institutions) 👀
- [Maker Foundation takes another step towards dissolution](https://blog.makerdao.com/the-maker-foundation-focuses-on-its-dissolution/)
- [xToken suffers exploit](https://twitter.com/xtokenmarket/status/1392490733588946948)
- [Binance plans to launch NFT marketplace in June](https://www.binance.com/en/blog/421499824684901995/Introducing-Binance-NFT-A-Groundbreaking-NFT-Marketplace-Launching-June-2021?ref=JLI1VBLA&utm_source=BinanceTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial)
- [Paraswap raises $3M for DEX aggregator](https://twitter.com/TheBlock__/status/1391724880647839744)
- [Introducing Malt—a new algorithmic stablecoin](https://medium.com/malt-protocol/introducing-malt-3d9e67d34532)
- [Brooker Group holds BTC and plans to invest $50M into DeFi](https://www.coindesk.com/brooker-group-to-invest-defi-dapp-startups)
- [Binance donates tons of liquid oxygon to help with India Covid Relief](https://twitter.com/BinanceBCF/status/1394336110831050755?s=20)
- [Dapper Labs is being sued from the NBA over NBA Topshot](https://twitter.com/CoinDesk/status/1393228782480338944)
- [39M US households may get up to $3,600 in monthly stimulus](https://twitter.com/zerohedge/status/1394272436460392448?s=20) (*oh boy)*

#### What’s hot 🔥
- [Ethereum is now more secure than Bitcoin](https://twitter.com/TobbyKitty/status/1391830459559161857?s=20)
- [Vitalik donates $500M in dog tokens to Gitcoin](https://twitter.com/BillyLuedtke/status/1392538431646019585?s=20) (*and a lot to India Covid & others)*
- [Justin Drake attempts to value ETH based on tx fees](https://twitter.com/drakefjustin/status/1391998296143679488?s=20) (*spoiler: it’s bullish af)*
- [Total crypto dollar supply nears $100B](https://twitter.com/_kinjalbshah/status/1392157233434140672?s=20) (*growth is insane)*
- [Sony files for patent to allow in-game BTC payments](https://twitter.com/Blockworks_/status/1394294496473591809)
- [Market is underestimating the amt of institutional money waiting to buy ETH](https://twitter.com/fintechfrank/status/1392602513740910599?s=20)
- [MakerDAO crosses $200M in annualized revenue](https://twitter.com/bantg/status/1393972308168122369?s=21) (*bullish for MKR)*
- [MicroStrategy purchases another $15M worth of BTC](https://twitter.com/michael_saylor/status/1392814015181635584?s=21) (*just another week)*
- [Only 39% of Bitcoin mining comes from renewable energy](https://twitter.com/ryanwatkins_/status/1392843783449071620?s=21)
- [Liquity Protocol crosses $4B worth of ETH locked](https://twitter.com/tokenterminal/status/1392385537256927233?s=21) (*people like free loans)*
- [Gitcoin crosses $20M in OSS funding](https://twitter.com/owocki/status/1392504984906858496?s=20)
- [Dog tokens got wild last week](https://twitter.com/lawmaster/status/1391979415547035650?s=20) (*and Vitalik [rugged](https://bankless.ghost.io/a-tale-of-two-rug-pulls-weekly-recap/) them!)*
- [The average crypto holder is 38](https://www.gemini.com/state-of-us-crypto) (*older than expected tbh)*

#### Money reads 📚
- [BTC maxi on why ETH will win as a SoV](https://michaelmcguiness.com/essays/why-eth-will-win-store-of-value) - Michael McGuiness
- [The rise of micro-economies](https://coopahtroopa.mirror.xyz/gWY6Kfebs9wHdfoZZswfiLTBVzfKiyFaIwNf2q8JpgI) - Cooper Turley
- [It’s time to decentralized Gitcoin](https://gitcoin.co/blog/its-time-to-decentralize-gitcoin/) - Kevin Owocki
- [Bitcoin is civilization](https://bariweiss.substack.com/p/is-bitcoin-anarchy-or-civilization) - Balaji
- [Business tips from the person that created Amazon Prime](https://twitter.com/chrishlad/status/1393200246315012096?s=21) - Chris Hladczuk
- [Good analysis on DeFi blue chips](https://twitter.com/block49capital/status/1392583778795720707?s=21) - Block49 Capital
- [Media DAOs: Come join the collective](https://www.getrevue.co/profile/patey/issues/media-daos-come-join-the-collective-594688) - Richard Patey
- [Ethereum first quarter results](https://draecomino.substack.com/p/ethereum-q1-2021-results) (*great idea) *- James Wang

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#### **Governance **⚖️
- [Aave proposal & risk assessment on adding Lido’s stETH](https://governance.aave.com/t/proposal-add-support-for-steth-lido/2123/14)
- [Aave proposal to add support for MATIC](https://governance.aave.com/t/proposal-add-support-for-matic-token/3350)
- [Bankless DAO proposal for second badge distribution passes](https://snapshot.org/#/banklessvault.eth/proposal/QmYvsZ7AU2XyhpBL8g4QRQbLRX6uU3t5CHNdFQbs5r7ypJ) (*get your badges!)*
- [Balancer proposal to authorize Gauntlet to control Price Oracles](https://forum.balancer.finance/t/proposal-authorize-gauntlet-for-oracle-pools/1888) (*re: [partnership](https://defirate.com/balancer-partners-gauntlet/))*
- [Curve proposal to support liquidity incentives for L2 & sidechains](https://gov.curve.fi/t/discussion-multi-chain-gauges-to-spread-the-crv-love-on-side-chains-and-l2s/1747)
- [Maker executive vote to adjust parameters](https://vote.makerdao.com/executive/parameter-changes-and-oracle-updates?network=mainnet#proposal-detail) (*KNC stability fee to 5%)*
- [Vitalik proposes UNI to become oracle token](https://t.co/XiZOoDUx13?amp=1)
- [Yearn continued discussion on Governance 2.0](https://gov.yearn.finance/t/yip-61-governance-2-0/10460)
- [Yearn proposal to integrate vaults with Nexus Mutual insurance coverage](https://gov.yearn.finance/t/proposal-integrate-coverage-options-into-vaults/10674)
- [xToken proposal to compensate users affected by hack](https://gov.xtoken.cafe/t/proposal-for-compensation-for-xtoken-hack/109)

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#### **WHAT I’M DOING**
*Check out a few cool things I’m capturing right now in crypto*

- **Ryan: **Wrote [this post](https://ryanseanadams.substack.com/p/coming-soon) then gave some [opening remarks](https://youtu.be/78NfeLOd_uE?t=225) on the first DAO community call—200 people attended! Crazy how fast the community is moving.
- **Lucas: **[Trying to keep up with Bankless DAO](https://banklessdao.substack.com/p/banklessdao-weekly-rollup-2)! So much discussion going on within this community. Last week we sold our [first NFT for 1 ETH](https://rarible.com/token/0x60f80121c31a0d46b5279700f9df786054aa5ee5:972845:0x5f28298e99a276d1af2d0a784f2d098e10f52b90?tab=details). Now we’re doing the [first merch drop](https://shop.metafactory.ai/products/wells-fargo-tee?ls=RxUEX57RSbaHp5SNLPwT7w). 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?](https://twitter.com/RyanSAdams/status/1393566839704281090?s=20)*

- [@Lucasmanuel_eth deployed the Maple Finance contracts](https://twitter.com/lucasmanuel_eth/status/1393619257750179840?s=20)
- [@Chainlinkgod watched Vitalik & Elon rug pull 2 communities](https://twitter.com/ChainLinkGod/status/1393617722928291843?s=20)
- [@geekman learned about different staking providers](https://twitter.com/geekman12460215/status/1393581613292916739?s=20)
- [@NextAlpha2 continued to LP for the Lido x Curve pool](https://twitter.com/NextAlpha2/status/1393568971941687309?s=20)
See the rest [here](https://twitter.com/RyanSAdams/status/1393566839704281090?s=20)!

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#### **Extra Credit Learning**
- (Beginner) [A digestible explanation of EIP 1559](https://twitter.com/_jefflau/status/1392856752421363718?s=21)
- (Intermediate) [The advantage of single vault AMMs](https://insights.deribit.com/market-research/single-vault-model-the-lego-baseplate/)
- (Intermediate) [How to approach DAO treasuries](https://twitter.com/robertotalamas/status/1392831041086230531?s=21)
- (Intermediate) [Last minute guidance on crypto taxes](https://twitter.com/coinbase/status/1391828083083288582?s=20)
- (Intermediate) [The importance for composable wallets](https://medium.com/coinmonks/1the-importance-of-composable-wallets-for-users-and-developers-accb2aadff49)
- (Advanced) [State of blockchain funding](https://cipher.substack.com/p/state-of-blockchain-funding-q1-2021)
- (Advanced) [Exploring token economic design](https://twitter.com/0xWangarian/status/1391680711128621056?s=20)

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#### Some recent tweets…
*It’s a tough choice…*

> [](https://twitter.com/wongisrite/status/1393459088646762498)

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**Actions**

- Execute any good market opportunities you saw
- Listen to [Crypto, Legacy and Value with Mark Yusko](https://youtu.be/UEgSq6Rrfb4)