Download the crypto meta to your brain in this weekly show. 5th Week of April, 2021 ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ 📣 DHARMA | From Dollars to DeFi in a Tap! https://bankless.cc/dharma  ------ Topics Covered: 0:00 Intro 3:55 MARKETS 4:05 BTC Price 4:25 ETH Price ETH Market Cap https://decrypt.co/69493/ethereum-flips-paypal-top-25-global-assets-market-cap?utm_medium=referral&utm_campaign=feed&utm_source=flipboard  ETH/BTC https://ratiogang.com/  12:40 DeFi Action 14:45 RELEASES 16:00 Aave Liquidity Mining https://cointelegraph.com/news/lending-giant-aave-set-to-launch-liquidity-mining-program?  19:40 Stocks Live on Kwenta - FAANGT https://blog.kwenta.io/stocks-are-now-live-on-kwenta/ 22:06 Nexus Protocol Cover  https://medium.com/nexus-mutual/nexus-is-growing-protocol-cover-is-live-56752446ec57  23:25 Yearn Quarterly Report - Analyst’s Dream https://github.com/yearn/yearn-pm/blob/master/financials/reports/2021Q1-yearn-quarterly-report.pdf  26:00 Balancer Labs & Gnosis https://medium.com/balancer-protocol/the-crypto-cinematic-universe-crossover-event-of-the-summer-balancer-gnosis-protocol-bgp-638568aa0385  CowSwap DEX https://twitter.com/MEVprotection/status/1387392829731770375  28:30 NEWS 28:40 EIP-1559 July 14th https://twitter.com/sassal0x/status/1385624541586608132?s=20  30:05 EU 2 Year Digital Bond https://www.coindesk.com/european-investment-bank-issues-121m-digital-notes-using-ethereum  31:21 Tether & Coinbase Pro https://twitter.com/coinbasepro/status/1385359434411556868?s=21  33:35 Metamask 5 Million Users https://consensys.net/blog/metamask/metamask-surpasses-5-million-monthly-active-users/  $400k per day in revenue https://twitter.com/tomhschmidt/status/1387680567492104192  36:42 Why Gas is Cheaper https://twitter.com/sassal0x/status/1386180278817759235  37:47 Ethereum on CNN https://www.reddit.com/gallery/n0fjfd  39:40 Eminem & Nifty Gateway https://niftygateway.com/collections/eminemopens  40:58 Satoshi Disappeared https://www.forbes.com/sites/peterizzo/2021/04/26/10-years-ago-today-bitcoin-creator-satoshi-nakamoto-sent-his-final-message/?sh=66bd26dc10dd  43:05 Tesla Sells 18% BTC https://www.theblockcrypto.com/linked/102899/q1-earnings-show-tesla-sold-off-272m-of-its-btc-purchase  Tesla Makes Money https://www.wsj.com/articles/tesla-makes-more-money-trading-bitcoin-than-selling-cars-11619517615  46:09 JP Morgan Bitcoin Fund https://www.coindesk.com/jpmorgan-to-let-clients-invest-in-bitcoin-fund-for-first-time-sources  47:06 Nexon allocates $100M for BTC https://www.theblockcrypto.com/linked/103058/game-maker-nexon-100-million-bitcoin  49:30 Visa Moving Into Crypto in a ‘Very Big Way’ https://www.theblockcrypto.com/linked/103048/visa-ceo-crypto-earnings-call-comments  50:30 PayPal CEO Bullish Crypto https://time.com/5957001/paypal-cryptocurrencty-bitcoin-dan-schulman/  51:42 PayPal on Coinbase https://www.theblockcrypto.com/linked/103311/coinbase-paypal-us-users-buy-crypto  53:00 TAKES 54:30 Collateralize your ETH and Borrow Against It https://twitter.com/trustlessstate/status/1385710606750162946?s=21  1:01:02 Retail SquishChaos - ETH $30k to $150k https://drive.google.com/file/d/1Z1cc7ZnVC_qk8X_veELrsiftOVXcN06P/view  1:03:48 Crypto Fund Two Prime https://twoprime.io/wp-content/uploads/2021/04/Two-Prime-Inst-Ethereum-Investment-sunday-1.pdf  1:04:17 JP Morgan Report https://twitter.com/santiagoroel/status/1387417522777956354  1:05:23 ETH supply has no floor https://twitter.com/TrustlessState/status/1387627204369031170?s=20  1:07:04 $50M Stolen on BSC Uniswap Clone https://twitter.com/RyanSAdams/status/1387427596682645508?s=20  1:10:54 What David is excited about 1:13:13 What Ryan is excited about 1:15:10 MEME of the Week https://twitter.com/BanklessHQ/status/1387526059197976582?s=20  Bonus Meme https://twitter.com/EthereumMemes/status/1386033457894203393?s=20  1:17:30 Closing & Disclaimers ----- 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 I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here: https://newsletter.banklesshq.com/p/bankless-disclosures 

Justin Drake is a researcher at the Ethereum Foundation and is leading the charge of applied cryptography to the Ethereum network. This is the third time Justin has come on the podcast. If you haven't yet, dive into our first two episodes with Justin, 'The Bull Case for Cryptography' and 'Ultra Sound Money.' This episode rolls out how we can understand Ultra Sound Money using data-driven models. ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge  ------ BANKLESS SPONSOR TOOLS: 💰 GEMINI | FIAT & CRYPTO EXCHANGE https://bankless.cc/go-gemini  🔀 BALANCER | EXCHANGE & POOL ASSETS https://bankless.cc/balancer  👻 AAVE | LEND & BORROW ASSETS https://bankless.cc/aave  🦄 UNISWAP | DECENTRALIZED FUNDING http://bankless.cc/uniswap  ------ 📣 DHARMA | From Dollars to DeFi in a Tap! https://bankless.cc/dharma  ------ State of the Nation #44: Modeling Ultra Sound Money Guest: Justin Drake This is Justin's third appearance on Bankless. His first, The Bull Case for Cryptography, went in-depth into cryptographic hashes and digital signatures, the basic tools used to build blockchains. The second, Ultra Sound Money, presented a thematic overview for the Ethereum economic engine. In this episode, we model Ultra Sound Money and what upcoming upgrades to Ethereum mean for issuance, supply, and staking vs. mining. Justin recently released four models cover the granular data-driven details of what Ultra Sound Money Means. These models deal with Ether's three main cashflows: Issuance, Supply, and Collateral. Justin argues that with the massive efficiency improvements to the Ethereum Network with Proof-of-Stake, Ether issuance will decrease by upwards of 90% and will proportionally reduce sell pressure from miners. He posits that ETH's peak supply will be 120M total Ether, and EIP-1559's burning mechanism will eventually reduce the total supply of ETH down to 100M. Justin also expects the APR for staking Ethereum to be 25% following the Ethereum 2 merge. We visualize what these numbers mean by combining the Ethereum Economic Engine metaphor, Triple Point Asset thesis, and viewing capital as having an inherent temperature. Cold ETH means that it is locked up, securing the network and/or reducing total liquid supply. Hotter ETH is that which is actively available for use, but much of this ETH is vaporized through EIP-1559's fee burn mechanism. Therefore, on both ends of the temperature spectrum, supply & issuance are optimized via staking and fee burn. Every episode with Justin is a deep exploration of the technicals that back Ethereum's memes of being a Triple Point Asset and Ultra Sound Money. However, understanding the models Justin lays out is cause for optimism on Ethereum's future as a vastly improved economic system. The State of the Nation this week is 'Ultra Bullish' – dive in to find out why. ------ Resources: Model #1: ETH peak supply model https://docs.google.com/spreadsheets/d/1ZN444__qkPWPjMJQ_t6FfqbhllkWNhHF-06ivRF73nQ/edit#gid=0  Model #2: The road to 100m ETH supply https://docs.google.com/spreadsheets/d/1XmeYkWEmaaZEUZ078A-lolchzNUrnlUllLkVXSGPzAU/edit#gid=0  Model #3: Net buy pressure https://docs.google.com/spreadsheets/d/1TsrdbdusUop4NJbvjGBbOWTUwYH-Jgg1QBkQ5CtY_-k/edit#gid=0  Mode #4: staking APR with EVM fee rewards https://docs.google.com/spreadsheets/d/1FslqTnECKvi7_l4x6lbyRhNtzW9f6CVEzwDf04zprfA/edit#gid=0  The Bull Case for Cryptography https://shows.banklesshq.com/p/-moon-math-the-bull-case-for-cryptography  Ultra Sound Money https://shows.banklesshq.com/p/-ultra-sound-money-justin-drake  Justin on Twitter https://twitter.com/drakefjustin?s=20  ----- 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 I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:  https://newsletter.banklesshq.com/p/bankless-disclosures