68 - Bull Case for DeFi II | Vance Spencer
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 7 June 2021
⏱️ 111 minutes
🧾️ Download transcript
Summary
Vance Spencer returns to Bankless to refresh his takes from his last appearance, 'The Bull Case For DeFi.' His predictions have held up exceptionally well, and listen in as he takes us through what Layer 2 means for the DeFi space.
------
🚀 SUBSCRIBE TO NEWSLETTER: https://newsletter.banklesshq.com/
🎖 CLAIM YOUR BADGE: https://newsletter.banklesshq.com/p/-guide-2-using-the-bankless-badge
🎧 Get this Episode's Debrief: https://shows.banklesshq.com/p/exclusive-debrief-defi-verticals
------
BANKLESS SPONSOR TOOLS:
💰 GEMINI | FIAT & CRYPTO EXCHANGE
https://bankless.cc/go-gemini
🦊 METAMASK | DEFI PASSPORT
https://bankless.cc/metamask
🦄 UNISWAP | DECENTRALIZED FUNDING
http://bankless.cc/uniswap
🔀 KWENTA | EXCHANGE SYNTHETIC ASSETS
https://bankless.cc/kwenta
------
📣 KYBER | DeFi’s First Dynamic Market Maker Protocol
https://bankless.cc/kyber
------
Bankless Podcast #68 - DeFi Verticals
Guest: Vance Spencer
Framework's Vance Spencer returns to Bankless nine months after his first appearance, 'The Bull Case for DeFi.' A lot has happened in the space since then, but his perspective holds up as salient and sharp. He and investing partner Michael Anderson have built a venture fund that invests in people.
With a healthy mix of on-chain and venture investments, Framework has consistently led as a thesis-driven firm with a clear focus on DeFi. Primitives, aggregators, and apps comprise a diverse and thoughtful portfolio representing a successful past and bullish future. It is increasingly apparent that capital efficiency is the game that DeFi projects are playing to gobble up market share.
Vance brings a uniquely holistic approach to investing in the space, discussing the verticalization of DeFi and seeking projects that leverage the smart contract money legoes to optimize front ends. The space's growth depends on building out payment rails, optimizing MEV, and exploring the world of rollups as a massive upgrade to the DeFi Sandbox. Stay tuned for hot predictions towards the end – this is somebody to listen to.
------
Topics Covered:
0:00 Intro
6:00 Vance Spencer of Framework
9:15 Accelerating Innovation & TVL
12:25 Bullish Bear Market
15:00 Optimism, ETH, and BTC
20:11 Long-term Market Cycles
24:23 Speculation, Value, and Resilience
29:06 Narratives and Volatility
35:41 The DeFi Sandbox Today
42:14 What to Build Next
47:30 Institutional Aave
51:40 Enterprise Blockchain
56:03 Regulation
59:54 DeFi Layer 2 Summer
1:09:57 Derivatives & Games
1:13:30 Layer 2 Implications
1:19:40 Multi-Chain DeFi
1:23:44 Ultra-Sound Values
1:28:29 Eating the World
1:31:40 Information and DAOs
1:37:02 Be About That Life
1:42:00 Predictions
1:48:18 Framework Ventures
1:50:54 Closing & Disclaimers
------
Resources:
Vance on Twitter:
https://twitter.com/pythianism?s=20
The Bull Case for DeFi:
https://newsletter.banklesshq.com/p/the-bull-case-for-defi-vance-spencer
-----
Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video 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. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://newsletter.banklesshq.com/p/bankless-disclosures
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to Bankless, where we explore the frontier of internet money and internet finance. |
| 0:18.6 | This is how to get started, how to get better, and how to frontrun the opportunity. |
| 0:23.0 | I'm Ryan Sean Adams, I'm here with David Hoffman, and we're here to help you become more |
| 0:28.6 | bankless. |
| 0:29.6 | David, I know I say this at the front of every episode. |
| 0:33.0 | How to frontrun the opportunity. |
| 0:35.0 | It's literally what we say in the intro every single time. |
| 0:38.4 | I feel like this episode truly is frontrunning the opportunity. |
| 0:43.5 | I know that because if you listen to episode number 28 with our guest, Vance Spencer, that |
| 0:52.1 | was truly a time to frontrun the opportunity in DeFi and ETH. |
| 0:55.7 | If you listen to him even earlier, it would have been even better. |
| 0:58.8 | And now here again, is a fantastic episode and an opportunity for bankless listeners, |
| 1:05.5 | those who are about that life, the crypto natives in this space, to get ahead of the massive |
| 1:12.6 | monumental shift that is happening in the global money system. |
| 1:17.5 | Super exciting, man. |
| 1:18.5 | I love this episode. |
| 1:19.5 | Yeah, we are bringing Vance Spencer back onto the podcast more or less because he got |
| 1:24.8 | things right. |
| 1:26.3 | We had him on it nine months ago, episode 28, the bull case for DeFi. |
| 1:30.4 | It was one of bankless's really big first big episodes and Vance Spencer, he held the |
| 1:35.6 | number one spot for the most downloaded episode for, I think the longest time in bankless |
| 1:40.3 | podcast history. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Bankless, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Bankless and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.