Bankless ROLLUP: 4th Week of March (Uniswap V3, Fidelity ETF, BTC Energy Waste, Jack Dorsey NFT)
Mar 26, 2021
This week, the discussion dives deep into Bitcoin's price struggles and Ethereum's volatility. Key highlights include Fidelity's Bitcoin ETF filing and the launch of innovative financial tools like the Dharma app and Monolith Visa card for seamless DeFi access. They explore exciting advancements in NFTs, including OpenSea's recent funding. Layer 2 solutions, particularly Hermes, are examined alongside MakerDAO's expanded debt ceiling. Finally, the podcast tackles cryptocurrency regulations amid evolving trends and decentralized finance's promise in reshaping financial systems.
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Crypto Index Composition
- Crypto index funds like Bitwise 10 hold too much Bitcoin.
- Diversify into DeFi-focused indexes like DPI or Bitwise DeFi for better exposure to revenue-generating tokens.
Early Crypto Indexes
- Early crypto indexes like Bloomberg Galaxy Index have arbitrary allocations (e.g., 3% EOS, 8% Bitcoin Cash).
- New indexes need to capture high-quality, bankless assets.
GBTC Discount
- Grayscale Bitcoin Trust (GBTC) usually trades at a premium, but now it's at a 14% discount.
- This is due to the 6-month lock-up period for GBTC shares, creating an unpredictable arbitrage opportunity.
