Dear Bankless Readers 🏴

In recent weeks, the rollercoaster ride has been on full throttle. The failure of Silicon Valley Bank, which sent shock waves through the tech startup industry, subsequently affected the USDC stablecoin, and had many crypto investors reaching for their wallets.

The fundamentals of DeFi and web3 are what we hold onto during these tough times. In this latest issue of the Recap, BP gets back to basics with an explainer on the Ethereum Virtual Machine, a close examination of the U.S. Federal Reserve and its role in the U.S.— and therefore the global — economy, a checklist of essential skills for any DAO contributor to cultivate, and our latest article: a reinvigorating run through the ReFi realm. Round that out with a nod to our Crypto Basics Series, and that’s a Recap wrap. 

This recap is a convenient way to access all our recent articles, but if you prefer to read Bankless Publishing content while it’s sizzling hot off the press, follow us on Twitter or come and join us in Discord.

Contributors: Frank America, Kornekt, Trewkat, Puretayo, HiroKennelly

Bankless Publishing is driven by a mission to ennoble its writers and showcase their content to a broad audience of crypto-interested readers. We also work with crypto’s leading protocols to help them get their message out to our audience. Whether you’re a writer or protocol team, we’re interested in talking with you.

This is an official newsletter of BanklessDAO. To unsubscribe, edit your settings.

🏫 Crypto Basics Series

Each week we’re shipping some of our previous introductory web3 content on Mirror, enabling users to curate a web3 reference library by minting the articles as NFTs on Optimism.

Bankless Publishing @BanklessPub

The Crypto Basics Series by @BanklessPub Mint #3: 4 Simple Steps To Join a DAO Start your DAO journey by researching the DAO ecosystem, pick the DAO that best suits your goals, start working, and contribute to governance. JustDAOit!

banklessdao.mirror.xyzCrypto Basics Series: 4 Simple Steps To Join a DAOStart your DAO journey by researching the DAO ecosystem, pick the DAO that best suits your goals, start working, and contribute to gove...

12:57 PM ∙ Mar 20, 2023

---

9Likes5Retweets

Bankless Publishing @BanklessPub

The Crypto Basics Series by @BanklessPub Mint One: The 101 on NFTs, A Briefing From the tech to the culture and how it all comes together at the intersection of identity and utility, this article covers all the NFT bases.

banklessdao.mirror.xyzCrypto Basics Series: The 101 on NFTs, A BriefingFrom the tech to the culture and how it all comes together at the intersection of identity and utility, this article covers all the NFT...

6:46 PM ∙ Mar 13, 2023

---

17Likes4Retweets

✍️ Article Summaries

Ethereum Virtual Machine Basics

Author: Hiro Kennelly | Editors: Tomahawk & Trewkat | Designer: Tonytad

Hiro Kennelly takes us through the ins and outs of the Ethereum Virtual Machine (EVM). The EVM is used by its namesake, Ethereum, but is also used by the likes of Binance Smart Chain and Avalanche. In essence the EVM is what enables smart contracts to operate, which in turn gives rise to decentralized applications, and what that enables: gamification, decentralized finance, on-chain governance protocols — you name it.

“The EVM functions by breaking down instructions from the smart-contract programming language Solidity, into opcodes, which are the most basic form of computer instructions. So long as the network is allocated enough gas, the EVM can solve any computational problem thrown at it.”

Read this mandatory awareness article by Hiro Kennlley here.

7 Essential DAO Skills

Author: KAF | Editor: Kornekt | Designer: ab_colours

DAOing it ain’t easy, buts it’s necessary… With the recent rise in decentralized autonomous organizations, the landscape of human coordination may have changed forever, and for the better. Whether their bidding on the Constitution, buying priceless internet art, or simply agreeing on some basic principle like going Bankless, DAOs are here to stay. KAF gets into seven essential DAO skills which can make any crypto novice upskilled in a nanosecond. 

“In DAOs, you just have to enter their Discord and introduce yourself. According to your skills and availability, the community will guide you and help you find a great fit. As you start contributing and the community gets to know and trust you, your reputation will increase, and more opportunities will come your way.”

Take a moment to run through this crash course on seven essential DAO skills. 

What the F is The Fed?

Author: Frank America | Editors: Hiro Kennelly & Trewkat | Designer: ab_colours

In this third chapter of his forthcoming book, Frank America dives into The Federal Reserve, otherwise known as the central bank. In his first two chapters, Frank explored the evolution of money and the history and use of gold. His take is that we have to know where we’ve been to know where we are going. This essay is a no-frills breakdown of what The Fed actually does.

“Interestingly, The Federal Reserve doesn’t print money. Money, in its paper form, is only printed by the U.S. Treasury, specifically, The Bureau of Engraving and Printing (BEP).³¹ Fun fact: the majority of paper money printed today is solely to replace decayed, damaged, or outdated bills.”

Take fifteen minutes and upskill your awareness of the U.S.’s current monetary system.

 Reinventing Economics With ReFi

Author: Meesh | Editor: Trewkat | Designer: Chameleon

Somewhere near the middle of the Venn diagram that is crypto lies decentralized finance, and within that regenerative finance, also known as ReFi. Historically, most efforts to enhance public goods haven’t been self-sustainable, and require large amounts of counterparty trust and centralized capital. In this article by Meesh, we learn that ReFi aims to overcome these obstacles using the blockchain tooling of DeFi and public goods protocols.

✅ Action Items

🐦 Follow: Make sure to engage with Bankless Publishing on Twitter!

🤝 Join: Come hang with us in the Bankless Publishing Telegram group.

✍️ Submit: Send your article to Bankless Publishing for evaluation.

💪🏽 Work: We’re looking for experienced editors - give the content and copy edit tests a go and reach out to us!

📚 Share: Please send this Recap to your friends.

Share

🧵 Tweet Threads

Bankless Publishing @BanklessPub

What the F is The Fed? The Federal Reserve was established to provide a stable monetary and financial system for the United States. In this thread, we look at the Capabilities of The Federal Reserve. 🧵👇 (1)

1:50 PM ∙ Mar 17, 2023

---

8Likes2Retweets

Bankless Publishing @BanklessPub

Credits 📜 Article Author : @ffstrauf Thread: @puretayo 📰 Read the article for more insight👇 banklesspublishing.com/whats-behind-t…

banklesspublishing.comWhat’s Behind the Backing of Stablecoins? - Bankless PublishingIf StableCoins are Money Legos What Keeps Them Stuck Together? Article by Florian Strauf Introduction With a lot of volatility in crypt...

12:38 PM ∙ Mar 11, 2023

---

2Likes1Retweet

If you’d like to sponsor our newsletter and have your brand placed on our website, review our deck, reach out to us on Twitter, or email us at BanklessPublishing@gmail.com Subject: Sponsor.