Dear Bankless Readers 🏴

As the season changes around the globe, so too Bankless Publishing has wrapped up Season 8 at BanklessDAO and we’re full steam ahead into Season 9. We continue to grow and innovate, finding new ways to bring value to our readers. You’ll see a brand new newsletter in Season 9 focused on builders and developers, more threads and long-form X content, and audio recordings of our articles, but at our core we’re still shipping top-shelf, educational web3 content, whether on our website or straight to your inbox through our newsletters. 

As a loyal reader, of course you know that only 21 million bitcoin will ever be mined. Once you learn that the number of bitcoin is capped, you may wonder what happens to the network after BTC mining rewards cease. We have you covered — with info, not rewards! — and if you’ve ever wondered about bonding curves, we have your back there too, with a look at the price discovery mechanism behind friend.tech’s key purchases. Finally, we round out this recap with a spotlight interview with Perchy, creator of the Bankless Nation and chippi NFTs! Woohooo!

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, Hiro Kennelly

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.

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✍️ Article Summaries

The Future of Bitcoin Beyond 21 Million

Article by Frank America | Edited by Hiro Kennelly and trewkat | Cover Art by Tonytad

Have you ever wondered what happens after the last bitcoin is mined around 2140? It’s a common question, and Frank America recently set out to find out how the Bitcoin network remains secure after there are no more block rewards. The simple answer is that transaction fees should more than incentivize miners to keep building blocks.

A recent spike in interest in the Bitcoin network provides a sufficient case study of what mass adoption, and therefore increased demand, could look like. During Ordinals Fever, transaction fees were higher than the block reward of 6.25 bitcoin. The mempool, which is where transactions queue up before going onchain, nearly quadrupled in size. These ‘spike fees’ go to the miners. Not only did the Bitcoin network absorb the increased demand, it incentivized miners to prioritize transactions that paid more, which led to the fees being high enough to surpass the block subsidy. In a bitcoinized world, transaction fees could surpass the block subsidy we see this decade.

Feel good about Bitcoin post BTC rewards in this article by Frank America.

Bonding Over Friends and FUD

Author & Designer: trewkat | Editor: Hiro Kennelly

Friend.tech has taken Crypto X by storm over the last several weeks. Whether out of kinship, FUD, or novelty, users are pouring into the platform. Friend.tech uses a bonding curve to determine the share value of an individual user’s ‘keys’. Keys give holders access to a gated chat with that particular user. This is breaking out into the mainstream and may serve as an instrumental adoption mechanism for the advancement of blockchain technology.

Regardless of whether you believe in the utility and longevity of friend.tech, it’s worth understanding how the model works as it differs from the way cryptocurrency markets operate. Friend.tech keys are bought and sold on a bonding curve, which impacts prices very differently than tokens traded on an exchange.

Dive into the world of friend.tech in this article by trewkat.

Spotlight: Meet Perchy, the Where’s Waldo of Web3

Author: Frank America | Editors: trewkat and WinVerse | Designer: Perchy

Perchy is a fixture of the BanklessDAO and his chippi are all over its Discord. This article dives deeper into the imagination of the chippi creator, as well as an exploration of the world they inhabit: The Bankless Nation NFT Collection. For bonus context be sure and check out this Bankless Publishing X Space for a deeper dive into that wondrous world.

While much focus and due credit has been given to Perchy’s chippi, the worlds of Perchy’s imagination also deserve high praise. The Citadel is an epic castle, an ode to Satoshi, a flying dragon of hodl. Its world is weary and magnificent, like something out of a J.R. Tolkien novel. In contrast, Hodlr Beach is light and breezy, evoking a Where’s Waldo illustration; it’s fun and full of chippi celebrating together.

Get lost in the imagination of Perchy and learn more about his unique POV in this article by Frank America.

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