How cool would it be to have Bankless in video format? That’s where I want to go next. But I need your help! If you want the Bankless program in video give 1 DAI & let’s make it happen!
Dear Bankless Nation,
I played my share of video games in my younger years. I would compete on everything: most wins, highest score, strongest character, best items, fastest time.
One thing I learned—no matter what game I competed in or how good I got there was always a 12-year old kid somewhere out there who could school me.
Such is the nature of global competition.
There’s always someone better.
Trying to earn top score in every game I played was exhausting.
So I stopped. I focused on the long-term game. I started having fun again.
“So how much of this yield farming stuff are you doing?” he asked.
“Honestly—a decent amount—but not as much as I should be” I found myself saying. Not as much as I should be. That’s weird…was I feeling guilty? Like I’m the Bankless Guy and I should be tethered my screen 24/7 always farming all the hottest opportunities?
He must have detected it.
“I mean it’s not like you have to do everything. The important thing is you’re here and if this crypto thing pans out you’ve already won right?”
He was right.
I was exhausting myself competing for high score again—trying to win at everything.
But I didn’t have to win every game. I didn’t have to beat the 12-year old kid.
Because owning ETH and BTC in 2020 is already winning.
If you’re reading this you’ve already won.
Every day a new crypto asset moons. A new yield farming opportunity surfaces. Someone gets lucky and makes a fortune.
You end the week with a list of opportunities you missed.
Even when you win you feel like you lost.
You feel like everyone’s getting hilariously rich and you’re not.
My message is stop.
Stop with the FOMO.
Stop checking prices non-stop.
Stop exhausting yourself on all the mini-games.
Stop competing against the 12-year old kid who’s going to beat you.
You don’t have to capture every opportunity. You don’t have to win every game.
If you own crypto money assets, if you’re leveling up a bit each week, if you’re here with us on the journey—be content. Because you already won.
You own shares in the world’s future money system.
You’ll have way more fun playing all the DeFi mini-games you stop obsessing about high score.
Scan this section and dig into anything interesting
Market numbers 📊
ETH drops -8.4% to $224 from $243 last Monday
BTC cools down by -6.4% to $9,117 from $9,533 last Monday
DAI stability fee increases to 0.25% with savings rate steady at 0%
Market opportunities 🤑
(Lend) Dai on Aave for 3.98% APY(best DAI rate in DeFi!)
(Margin) trade ETH with new ETH perpetual contract from MCDEX (⚠️new!!)
(Trade) COMP on Coinbase
(Invest) One of the most interesting Balancer Pools(earn BAL tokens too)
(Save) mUSD and earn 37.98% APY using mStable (⚠️ new!)
Yield Farming 🌾
What’s new 🗞️, what’s hot 🔥, & money reads 📚
WHAT I’M & WHAT YOU’RE DOING
Make time to complete this assignment before next week!
How to earn interest by saving stablecoins with mStable
Earn a solid 30% APY right now just by depositing stablecoins. No leverage either! Super simple and easy to earn all thanks to market-making fees & interest accruing. No governance tokens on this one though 😢
DeFi Dad walks us through the following:
What is the utility of mStable and why mUSD is a hedge against stablecoins
How to mint mUSD (worth $1 as a basket of stablecoins)
How to SAVE mUSD and earn the high-yielding interest rate
How to withdraw mUSD & redeem mUSD for stablecoins
The risks of using mStable
You can learn more and try mStable yourself at: https://app.mstable.org/
Extra Credit Learning
Some recent tweets…
Execute any good market opportunities you saw!
Complete weekly assignment: How to earn high-yielding interest with mStable
Listen to Episode #19: DeFi vs Banks | Hasu
🙏Thanks to our sponsor
Aave is an open source and non-custodial protocol for money market creation. Originally launched with the Aave Market, it now supports Uniswap and TokenSet markets and enables users and developers to earn interest and leverage their assets. Aave also pioneered Flash Loans, an innovative DeFi building block for developers to build self-liquidations, collateral swaps, and more. Check it out here.
Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter 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. I’ll always disclose when this is the case.