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11 - Going Bankless with Compound | Robert Leshner

Bankless

Bankless

Tech News, Technology, News

4.71.2K Ratings

🗓️ 11 May 2020

⏱️ 87 minutes

🧾️ Download transcript

Summary

Episode: #11
May 11, 2020

Your savings account, your high-yield bank deposits, a CD. Can we replace these bank functions with a protocol? 

Compound seems to think so. Compound is a two-sized money robot that provides borrowing and lending to create something new: interest. Learn what it does, why it's powerful, and how it's evolving as we talk with Robert Leshner. We even ask if there's a way for the community to get its hand on some Comp tokens and start shaping the future of the protocol.

We cover:

  • What you can do w/ Compound
  • Power of programmable interest
  • How Compound's different than:
    • WellsFargo (traditional banks)
    • Maker (other procotols)
    • BlockFi (crypto banks)
  • If crypto banks will out-compete DeFi
  • How you can get COMP tokens
  • Future of protocol politicians
  • The protocol sink thesis
  • Robert's biggest fear for DeFi
  • How the Bankless community can help
This is our final of three episodes in the "King Money Protocols Series" where we talk through the three most important DeFi protocols. Catch up on Episode 10 and Episode 9 if you missed them. 
 
Before the episode begins we also talk about:
  • Tron stealing our tax money
  • What wBTC backing means for DAI

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Resources discussed:

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Episode Actions:

  1. Try earning interest on Compound
  2. Stay tuned for governance opportunities:
  3. Give Bankless a 5-star review on iTunes right now!

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Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to Bankless, where we explore the frontier Internet money and Internet finance.

0:19.4

This is how to get started, how to get better, and how to front run the opportunity.

0:22.8

This is Ryan Sean Adams.

0:24.0

I'm here with David Hoffman,

0:25.5

and we're here to help you become more bankless.

0:28.8

David, we have an absolutely fantastic episode

0:31.9

with Robert Lushner from Compound today.

0:35.2

This is going to be an episode on how to go bankless with Compound.

0:39.6

What did you learn from this episode, man?

0:41.3

There were so many topics that got dropped in this

0:44.0

episode that I haven't heard anywhere else and so it was really a treat to get

0:48.2

Robert Lesher on to talk all about compound. I really enjoyed learning about the kind of the design ethos and parameters of the compound protocol, how it came to be and

1:00.0

why some of the decisions were made in the way that they were.

1:04.4

And so, Robert, he's the founder of Compound,

1:07.3

and so he goes all the way back and kind of explain

1:10.2

some of the choices in the Comp protocol, the ethos of the system at large, and how and where compound is going to go into the future.

1:20.0

And so Robert, a really smart guy guy, Sharp as attack, really saw the vision for

1:26.1

Defi, I think, earlier than most people, and he has led compound with that vision and I think he hit that vision that nail on the head really, really well.

1:36.7

So, you know, tip of the hat to Robert for building something really powerful in this space.

1:41.7

We touch on topics such as the protocol Singh thesis, which me and Ryan are

1:46.3

harping on more and more and more. And Robert really really resonated with that. And so we're going to, we talk about that.

1:52.0

And we also talk about what it means for a system like compound to be fully autonomous but also governed by you know a set of community stakeholders. You know these are topics that we all we always knew were coming in the horizon with

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