In the latter half of 2021, Jai Bhavnani of Rari Capital and Joey Santoro of FEI Protocol went to each other's governance forums and proposed the FEI RARI token merge: the biggest protocol merger that we've ever seen in the space. The concept garnered high engagement and a ton of community response, and the formal votes received overwhelming support on both sides. This unprecedented merge is a historical moment for DAOs. The verticalization of DeFi is happening with new 'mafias' emerging in several corners of DeFi. Uniting capital efficiency, values, and communities, we are right alongside Jai with his excitement to see how this all plays out. With new conversations of anti-trust and competition, it's clear that the DAO space is continuing to mature. Integrated DeFi stacks are increasingly exciting, and in this episode, we dive into the details with two pioneers of interDAO relationships. ------ 📣 ONJUNO | Crypto from your Checking Account! https://bankless.cc/OnJuno  ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ BANKLESS SPONSOR TOOLS: ⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum  🍵 MATCHA | SMART ORDER ROUTING https://bankless.cc/Matcha  🚀 SLINGSHOT | LAYER 2 SOCIAL TRADING https://bankless.cc/Slingshot  🏦 GEMINI | TURN FIAT INTO CRYPTO https://bankless.cc/Gemini  🦁 BRAVE | THE BROWSER NATIVE WALLET https://bankless.cc/Brave  🦄 UNISWAP | DECENTRALIZED FUNDING https://bankless.cc/UniGrants  ------ Topics Covered: 0:00 Intro 5:50 The TribeDAO Merger 10:48 Rari Capital & FEI 13:37 FEI & Rari Capital 17:14 Liquidity Engines 24:36 Turbo Verticalization 29:12 Aligning Incentives 32:08 The God Theory of DAOs 35:19 RGT & Operations 40:53 The Broader DAO Space 46:36 Anti-Trust in Crypto 52:36 TribeDAO Roadmap 56:42 Closing & Disclaimers ------ Resources: Jai on Twitter:  https://twitter.com/jai_bhavnani?s=20  Joey on Twitter: https://twitter.com/joey__santoro?s=20  FEI: https://twitter.com/feiprotocol?s=20  Rari: https://twitter.com/RariCapital?s=20  Jai's Forum Post: https://tribe.fei.money/t/fip-51-fei-rari-token-merge/3642  Joey's Forum Post: https://forums.rari.capital/d/177-feirari-token-merge  Swap RGT for TRIBE: https://feirari-swap-interface.vercel.app/  ----- 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 

Ethereum founder Vitalik Buterin returns to the podcast to discuss his recent article Endgame, as well as the massive year we observed in 2021. From the future of Ethereum to the rise of alternative Layer 1 platforms, it only makes sense to kick off 2022 by exploring how far we’ve come and figuring out where we’re headed. How far are we along on Ethereum’s roadmap? What challenges lie ahead? In a recent tweet, Vitalik posted a graphic of the updated progress of the Ethereum roadmap, and there are five throughlines that are progressing in parallel: • The Merge • The Surge • The Verge • The Purge • The Splurge We dive into what each of these means, as well as discuss what Ethereum will look like as these milestones are met. Holding this up against conversations of maximalism and alternative L1s, now is the time to start asking the big questions. ✨ WATCH THE DEBRIEF ✨ https://youtu.be/v__0GOC-XYE  ------ 📣 ONJUNO | Crypto from your Checking Account! https://bankless.cc/OnJuno  ------ 🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/  🎙️ SUBSCRIBE TO PODCAST: http://podcast.banklesshq.com/  ------ BANKLESS SPONSOR TOOLS: ⚖️ ARBITRUM | SCALING ETHEREUM https://bankless.cc/Arbitrum  🍵 MATCHA | SMART ORDER ROUTING https://bankless.cc/Matcha  🚀 SLINGSHOT | LAYER 2 SOCIAL TRADING https://bankless.cc/Slingshot  🏦 GEMINI | TURN FIAT INTO CRYPTO https://bankless.cc/Gemini  🦁 BRAVE | THE BROWSER NATIVE WALLET https://bankless.cc/Brave  🦄 UNISWAP | DECENTRALIZED FUNDING https://bankless.cc/UniGrants  ------ Topics Covered: 0:00 Intro 4:09 Debrief 7:27 Vitalik Returns after 2021 11:40 2021 Ethereum Milestones 16:33 Roadmap Progress 19:35 The Merge (Proof of Stake) 24:20 The Surge (Rollups & Sharding) 32:59 Life after Sharding 42:40 The Verge (Verkle Trees) 49:35 The Purge (History Expiry) 57:03 State Expiry & Snake 1:03:40 Snakes & States 1:08:20 The Splurge (Everything Else) 1:15:20 What Makes Vitalik Happy 1:20:17 Rise of Alt Layer 1s 1:26:03 Gas Costs & Decentralization 1:29:11 Maximalism 1:34:03 Endgame 1:40:16 Alt L1s and Rollups 1:44:02 Multi-Rollup World 1:49:21 The Ground Floor 1:53:56 Solving the World’s Problems 1:58:33 Closing & Disclaimers ------ Resources: VITALIK'S ARTICLES Endgame https://vitalik.ca/general/2021/12/06/endgame.html  The Limits to Blockchain Scalability https://vitalik.ca/general/2021/05/23/scaling.html  Verkle Trees https://vitalik.ca/general/2021/06/18/verkle.html  Pragmatic Destruction of Self-Destruct https://hackmd.io/@vbuterin/selfdestruct  Crypto Cities https://vitalik.ca/general/2021/10/31/cities.html  Legitimacy https://vitalik.ca/general/2021/03/23/legitimacy.html  Moving beyond coin voting governance https://vitalik.ca/general/2021/08/16/voting3.html  VITALIK ON BANKLESS Legitimacy https://shows.banklesshq.com/p/-legitimacy-vitalik-buterin Beyond Coin Voting https://shows.banklesshq.com/p/beyond-coin-voting-vitalik-buterin Vitalik Speaks (Playlist) https://youtube.com/playlist?list=PLmkdAgtxf3agqnA5IieA7OkKBjlhx9mn- MISC. Roadmap Tweet https://twitter.com/VitalikButerin/status/1466411377107558402?s=20  Merge Testnet https://kintsugi.themerge.dev/  ETH TPS https://ethtps.info/  ----- 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