| gm Bankless Nation,
The much-hyped parallel EVM L1 is launching at a rough moment for the industry; will it make a splash? Today's Issue ⬇️ - ☀️ Need to Know: Monad Launch
After a sluggish ICO, the L1 goes live. - 🎧 Early Access: Inside Monad’s Parallel EVM
Co-founder Keone Hon on why we need another L1. - 🗣️ Tactic: ETH-Backed Loans on Coinbase
It's never been easier to get a loan on your ETH.
p.s. Thanks to Reya: Trade with zero fees, <1ms speed & 100% ETH security. The first based-rollup DEX (& already top-6 platform) with $1.5B daily vol. Fast, free, secure. Sponsor: Unichain — Faster swaps. Lower fees. Deeper liquidity. Explore Unichain on web and wallet. . . . NEED TO KNOW Monad Launch - 🏦 Speedy EVM Blockchain Monad Goes Live on Mainnet. The blockchain hits main stage with over half the supply locked and a broad set of applications already live.
- 💸 Tom Lee's BitMine Now Holds 3% of ETH Supply After Latest Acquisition. The top ETH treasury continues to load up on ETH despite the asset's recent downturn.
- 🇰🇷 South Korean Crypto Exchange Eyeing Nasdaq Listing. Upbit is planning a Nasdaq listing following its planned merger with South Korean tech group Naver.
📸 Daily Market Snapshot: ETH mounted a minor rally Monday afternoon as the asset jumped 5% and neared the $3,000 barrier it sank below late last week following a weeks-long slide. | Prices as of 4pm ET | 24hr | 7d |  | Crypto $3.05T | ↗ 2.4% | ↘ 2.5% |  | BTC $88,887 | ↗ 1.6% | ↘ 2.9% |  | ETH $2,975 | ↗ 5.2% | ↗ 0.1% | . . . EARLY ACCESS Do We Need Another L1? Monad just launched Mainnet and Ryan is sitting down with Monad co-founder Keone Hon to ask the blunt question: do we really need another general-purpose L1? Why not just build this as an Ethereum L2 instead? Keone explains how Monad’s parallel, pipelined EVM works under tight consumer-hardware constraints (32GB RAM, 2TB SSD, 100 Mbps), delivering ~500M gas/sec, 400ms blocks, and fast finality while preserving decentralization. Listen along to the full episode 👇 . . . TACTIC Getting Started with ETH-Backed Loans on Coinbase Sometimes you have to sell crypto to cover expenses. That's life. The downside of course is that afterwards you have less crypto, plus those sales trigger a taxable event. These pain points make DeFi borrowing very attractive. Instead of having to travel somewhere, fill out paperwork, and deal with credit or put up your IRL property to secure a personal loan, you can borrow permissionlessly with DeFi in minutes, and from the comfort of your phone, by collateralizing your crypto in smart contracts. This way, you can borrow a stablecoin like USDC and spend it like you would cash without selling your underlying holdings. You get purchasing power while keeping long-term exposure, and personal loans like this aren't considered taxable income in the U.S. This DeFi model is powerful, but venturing out onchain isn't for everyone. I have family and friends who hold ETH on CEXs, and would be inclined to use DeFi tools, but aren't confident enough yet to navigate onchain apps on their own. That's perfectly fine. Not everyone should have to be a frontiersman to access the benefits of DeFi. And increasingly they won't have to be, as we see more and more mainstream apps embrace the DeFi Mullet: fintech in the front, DeFi in the back. A fresh example of this came last week when Coinbase debuted ETH-backed loans powered by Morpho. This is an integration I can happily recommend to my family and friends, as Coinbase is one of the most trusted and easy-to-navigate crypto exchanges, while Morpho is one of the most proven and dependable DeFi lending protocols. With this integration, you can now borrow against your ETH without having to leave the comfort of the Coinbase app. And this is very easy to do. Assuming you already have some ETH holdings on Coinbase, you just: - Click on your ETH balance to bring up your Ethereum dashboard.
- Scroll down to the "Borrow" tab and press "Start."
- Review the primer info — i.e. your Borrow up to amount (based on your ETH deposited to Coinbase), the Variable rate (the fluctuating interest Morpho will charge on your loan), and the Liquidation LTV (the "loan-to-value" point at which your underlying ETH could be liquidated for repayment) — and then press "Continue."
- Once you arrive at the borrowing interface, input the amount of USDC you want to borrow, then click "Review loan."
- Check one last time that your loan details are satisfactory. When you're ready press "Borrow now," then "Accept and continue." After this, your loan will be submitted, though it may take a minute or two to finalize in Coinbase's UI.
Voila, that's all it takes to get started! If you do open a loan like this, you can navigate to your Coinbase "Cash" tab and in the "Borrow" section you'll see a "Manage Loans" button. Go here for the "Repay" option to pay back the USDC you borrowed over time. These ETH-backed loans have a flexible term, so you don't have to pay back specific amounts per a specific schedule. Just repay whenever in whatever amounts suit you, though keep a close eye on your loan health to avoid liquidation. Also, keep in mind that USDC borrowed on Coinbase can't be used for buying crypto on Coinbase, so this particular avenue is meant for cashing out and spending. As far as DeFi onramps go, this integration is about as simple and safe as it gets. If you or someone you know hasn't gotten around to borrowing against ETH yet, this is certainly a good place to start. FRIEND & SPONSOR: UNICHAIN Unichain offers the most liquid Uniswap v4 deployment on any L2 – giving you better prices, less slippage, and smoother swaps on top trading pairs. All on a fast, low-cost, and fully transparent network. Start swapping on Unichain today. | 
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