🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI ❤️ JOIN PRIVATE DISCORD: https://bit.ly/2UVI10O 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/ ----- GO BANKLESS WITH THESE SPONSOR TOOLS:  ⭐️ AAVE - BORROW OR LEND YOUR ASSETS https://bankless.cc/aave 🚀 GEMINI - MOST TRUSTED EXCHANGE AND ONRAMP https://bankless.cc/go-gemini 💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith 📈 KWENTA | DEVIRATIVES TRADING WITH INFINITE LIQUIDITYhttps://bankless.cc/kwenta ------ State of the Nation #28 Algorithmic Stablecoins, with Dan Elitzer Dan Elitzer recently co-founded Nascent (nascent.xyz), a venture capital company that is deep into the weeds in some of the most experimental projects in the Ethereum ecosystem.  In the 2nd half of 2020, some of the coolest experimental projects have been Algorithmic, Uncollateralized Stablecoins.  These are stablecoins without dollars in a bank, or without crypto in a vault. They are completely backed by financial incentives.... and faith in those incentives.  In this episode of State of the Nation, we begin by defining the 'Stablecoin Trilemma' (https://imgur.com/a/Uj0HBL3), and discuss some of the history of stablecoins.  Then we turn to the current design philosophy behind algorithmic stablecoins, how they work, what makes them stable, and who gets the upside? We largely discuss Empty Set Dollar (ESD, https://www.emptyset.finance/), but also discuss Basis Cash, and Ampleforth.  Tune in, to hear about this exciting emerging corner of the DeFi ecosystem! ------ Don't stop at the video! Subscribe to the Bankless newsletter program http://bankless.substack.com/ Visit the official Bankless website for resources http://banklesshq.com/ Follow Bankless on Twitter https://twitter.com/BanklessHQ Follow Ryan on Twitter https://twitter.com/ryansadams Follow David on Twitter https://twitter.com/TrustlessState ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case

🚀 SUBSCRIBE TO NEWSLETTER: http://bankless.substack.com/ ✊ STARTING GUIDE BANKLESS: https://bit.ly/37Q17uI ❤️ JOIN PRIVATE DISCORD: https://bit.ly/2UVI10O 🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/ 👕 BUY BANKLESS TEE: https://merch.banklesshq.com/ ----- GO BANKLESS WITH THESE SPONSOR TOOLS:  ⭐️LEDGER - BEST HARDWARE WALLET TO SECURE YOUR CRYPTO https://bankless.cc/ledger 🚀  ZERION - INVEST IN DEFI FROM ONE PLACE https://bankless.cc/zerion 💳 MONOLITH - GET THE HOLY GRAIL OF BANKLESS VISA CARDS https://bankless.cc/monolith 🤖YEARN - YIELD-SEEKING MONEY ROBOT THAT FARMS DEFI FOR YOU  http://bankless.cc/yearn ------ ROLLUP: 5th Week of December MARKET BTC Price - Almost 29k! ETH Price - Just hit 750! - 50% away from ATH price Blow off tops coming?? We are very far away from the 20 week MA! TVL in DeFi - Up from 14B to 14.4B DPI  - Up from $108 to $117 2.2M ETH in ETH 2, $1.65B Futures value Coinbase at $50B https://ftx.com/trade/CBSE/USD ____ RELEASES 1INCH token released https://1inch-exchange.medium.com/1inch-token-is-released-e69ad69cf3ee Haseeb’s take on Stablecoins https://medium.com/dragonfly-research/fighting-to-be-stable-the-evolution-of-stablecoins-aca81fb432f9 DeFi events of the year graphic https://www.theblockcrypto.com/linked/89271/here-are-some-of-the-biggest-defi-events-in-2020 Opyn V2 https://medium.com/opyn/opyn-v2-is-live-11347240b46e YAM rebasing DISABLED https://twitter.com/YamFinance/status/1343966274095902720 YAM released Degenerative Finance on UMA https://medium.com/yam-finance/degenerative-finance-ugas-explained-458bedbc2f17 - YAM acting as a good DAO! Primitive is Live on Mainnet https://primitivefinance.medium.com/primitive-is-live-on-mainnet-2261c5b098c5 ____ NEWS New SEC Chairman appointed: Elad Roisman https://u.today/breaking-new-pro-crypto-sec-chairman-appointed “Known as one of the most crypto-friendly SEC commissioners. A vocal supporter! The fact that Roisman is at the helm of the SEC also significantly boosts the chances of a Bitcoin-tied exchange-traded fund (ETF) being approved in the coming years.  Mnuchin wants onchain KYC for all ETH wallets that have stablecoins in them https://twitter.com/jchervinsky/status/1341864829171228676?s=20  Comment window period open on the FinCEN proposal to extend KYC to non-custodial wallets https://twitter.com/jchervinsky/status/1341847200209530883?s=20 Etoro IPO rumors https://cointelegraph.com/news/crypto-friendly-trading-firm-etoro-rumored-to-be-prepping-for-2021-ipo Coinbase Delists XRP https://twitter.com/coinbase/status/1343685626001039360?s=20 Also Binance US https://twitter.com/binanceus/status/1344372892205608961?s=21 Also Bittrex https://twitter.com/BittrexExchange/status/1344056304617177089 Also trading desks https://www.theblockcrypto.com/linked/89083/jump-trading-galaxy-xrp-market-making ____ Cover Protocol Exploit https://coverprotocol.medium.com/12-28-post-mortem-34c5f9f718d4 https://twitter.com/CoverProtocol/status/1343581331448586245 https://etherscan.io/tx/0xc2fd5094c1e108f83222a86bd46b35fc0da35616385d681964b22003643f982e ____ TAKES Uniswap means you can't be delisted (sorry XRP) https://twitter.com/RyanSAdams/status/1343740028766347265?s=20 DC https://twitter.com/iamDCinvestor/status/1344138701757153281?s=20 Can’t delist on Uniswap https://twitter.com/RyanSAdams/status/1343740028766347265?s=20 Ethereum is the TAM https://twitter.com/panekkkk/status/1343269535919562753?s=20 Ethereum doesn’t marginalize https://twitter.com/evabeylin/status/1341793825962958848?s=20 Degens are funding Open Source https://www.coindesk.com/defi-degens-funding-next-wave-open-source Ethereum is the last bastion for Yield https://twitter.com/TrustlessState/status/1344378165414617088?s=20 ------ Don't stop at the video! Subscribe to the Bankless newsletter program http://bankless.substack.com/ Visit the official Bankless website for resources http://banklesshq.com/ Follow Bankless on Twitter https://twitter.com/BanklessHQ Follow Ryan on Twitter https://twitter.com/ryansadams Follow David on Twitter https://twitter.com/TrustlessState ----- Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research. Disclosure. From time-to-time we may add links in this channel to products we use. We may receive commission if you make a purchase through one of these links. We'll always disclose when this is the case