During the 2014 incident, over 740,000 Bitcoins<\/a> are estimated to have been lost, worth about $15 billion at the current BTC prices. The hack was the biggest on an exchange at the time, forcing the Bitcoin price to slip below $500. Mt. Gox was handling more than 70% of Bitcoin transactions then.<\/p>\n\n\n\n Although the trustee has been putting together a repayment platform for several years, they have changed deadlines. On May 28, Mt.Gox moved 141,686 BTC, estimated to be worth $9.62 billion, into a new wallet from cold wallets connected with the collapsed exchange. This marked the first on-chain transfer of funds in more than five years as the exchange put in place plans to repay creditors.<\/p>\n","post_title":"Mt.Gox Trustee Announces Payments To Users In July","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"mt-gox-trustee-announces-payments-to-users-in-july","to_ping":"","pinged":"","post_modified":"2024-06-30 17:41:12","post_modified_gmt":"2024-06-30 07:41:12","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17547","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17551,"post_author":"2","post_date":"2024-06-25 18:28:32","post_date_gmt":"2024-06-25 08:28:32","post_content":"\n Road Town, British Virgin Islands, June 25th, 2024, Chainwire<\/strong><\/span><\/p> Promontory Technologies<\/a> is excited to announce the launch of its Promontory Alpha Fund, a quantitative, systematic, multi-strategy approach to trade liquid listed digital (\u201ccrypto\u201d) assets. The fund is designed to be market-neutral and avoid deep drawdowns, offering both a BVI vehicle for non-US investors and a Delaware LP for US investors.<\/p> Promontory\u2019s CEO, Jackson Fu, was a day-one co-founder of the highly successful Qilin Investment, a top-rated quant hedge fund manager based in Shanghai. Since its launch in 2016, Qilin has managed USD $5-7 billion in AUM with excellent risk-adjusted performance, earning it the nickname \u201cThe DE Shaw of Asia\u201d. The Promontory team includes several key members from Qilin and brings a strong pedigree in the quant systematic trading space to the crypto markets.<\/p> Notably, the new fund has attracted capital from investors such as prominent Asian family offices and billionaire entrepreneurs, which the team hopes will underscore confidence in Promontory\u2019s approach and team.<\/p> Joining Jackson at Promontory from Qilin, are CIO Robin Liu, and several top quants and developers. Robin previously managed a USD $100 million (5,000 BTC) quant crypto strategy at Amber Group. The Promontory team, now 15 strong, includes seasoned professionals from BlackRock, Brevan Howard, Deutsche Bank, Morgan Stanley, OKX, Huobi, Gate, and WorldQuant.<\/p> Promontory\u2019s strategy uses advanced quantitative techniques, data science, AI, machine learning, and risk modeling to identify uncorrelated alpha in liquid digital assets. By diversifying capital and risk across a broad mix of sub-strategies and factors, the strategy achieves strong diversification and multiple sources of alpha. The team has adapted and honed their models and algorithms over several years to work successfully in the crypto space and has been trading these models in the crypto markets.<\/p> The strategy is offered in USD, BTC, and ETH share classes and provides separately managed accounts.<\/p> For more information on Promontory Technologies and the Promontory Alpha Fund, users can contact [email protected]<\/a> or visit www.promotechfi.com<\/a> and their LinkedIn<\/a> company page.<\/p> About Promontory Technologies<\/strong><\/p> Promontory Technologies<\/a> is the premier digital asset management firm dedicated to serving family offices, institutions, and high net worth individuals. Promontory provides digital asset exposure, risk management and diversification through a quantitative systematic hedge fund, venture capital, market making and OTC services.<\/p> The firm is helmed by a team of seasoned executives who have successfully managed a quantitative hedge fund with over US$7 billion in AUM in the traditional securities markets, as well as a crypto quantitative hedge fund with over US$200 million in AUM.<\/p> Hong Kong, Hong Kong, June 20th, 2024, Chainwire<\/strong><\/span><\/p> Zeek<\/a>, a decentralized collaboration network for on-chain social bounty and reputation, has successfully completed a USD 3M seed funding round ahead of its official launch in July.<\/p> Investors include OKX Ventures (as part of its strategic investment in Everest Venture Group\u2019s consumer-oriented products, which includes Zeek), Animoca Brands, Mask Network, Arche Fund, Summer Ventures, Blockchain Coinvestors, Aspen Digital, CatcherVC, Panony, Spacebar, Hardbank and super angels including Jason Kam of Folius Ventures, Ivan Li of Comma3 Ventures and Donny Chi of WeMade.<\/p> In the world of Web3, users are constantly encouraged to do their due diligence before trusting a person, platform, or any information they see, which is easier said than done. Zeek aims to solve this through its on-chain reputation construct, recognizing users who create value through social collaboration.<\/p> Powered by OpenSocial Protocol, Zeek is a social network that allows users to unlock the value of their intelligence, network, access, and time through on-chain social bounty mechanics and reputation called Wish <\/strong>and Rizz<\/strong>.<\/p> Social value is created as users create and participate in \u2018Wishes\u2019, which can be applied for different purposes, whether to seek out information and insight or expand your network and connections. Users will then be able to gain \u2018Rizz\u2019 through contributions and engagements in the network, which will naturally construct a social reputation layer for everyone and act as an on-chain recognition of the social value the user creates.\u00a0<\/p> \u2018Rizz\u2019 is an embodiment of karma whereby the more you give, the more you should be given in forms of economic incentive and measurable influence. Zeek's product and token are designed to foster such collaboration and construction of on-chain reputation.<\/p> With Zeek, users will be able to check the reliability of a person based on the reputation they have built, creating a whole new way to enforce trust in the Web3 world.\u00a0<\/p> Zeek is anticipated to officially launch in July, with its Private Beta running from the present until the launch date. Currently, users are able to pre-register via their X and Discord accounts here<\/a>. Additionally, Zeek\u2019s Tier-0 Genesis NFT collection, limited to 250, will be dropped later this month.<\/strong><\/p> About Zeek<\/strong><\/p> Zeek is a decentralized collaboration economy incentivizing reputation, and powered by innovative social bounty mechanics called \u2018Wishes\u2019. Individual behaviors and engagements contribute to the construction of a reputation layer called \u2018Rizz\u2019, which can be monetized and utilized to gauge credibility, reliability, and influence.<\/p> Twitter<\/a> | Website<\/a><\/p> HongKong, China, June 7th, 2024, Chainwire<\/strong><\/span><\/p> BEVM has announced a new incentive program, the BEVM Visionary Builders (BVB), following its recent partnership with Binance wallet for an airdrop event.<\/p> Introduction to BEVM Visionary Builders<\/strong><\/p> Launched by BEVM, the \"Visionary Builders\" ecosystem incentive program aims to promote the development of 17 tracks, including DEXs, lending, stablecoins, and more. Through community participation and multi-dimensional evaluation, the program will provide rewards totaling $60 million to outstanding projects and users.<\/p> The program also introduces an on-chain community voting mechanism. Participating project teams can demonstrate their active user base through on-chain voting, which is a crucial dimension for project evaluation. Users participating in on-chain voting will not only receive airdrops of ORDINALS\u2022RUNE but also BEVM tokens.<\/p> Currently, the Visionary Builders program is open for applications. Interested project teams can fill out the form in the Ecosystem section of the BEVM website or directly apply through this link: BEVM Visionary Builders Application Form<\/a>\u00a0<\/p> The application process for the Visionary Builders program is as follows:<\/strong><\/p> Reward Distribution<\/strong><\/p> BEVM will provide $60 million worth of assets to reward ecosystem projects and voting users participating in the BVB program. The actual value of the rewards will \"rise with the tide\" as BEVM develops. The distribution is planned as follows:<\/p> Overall, the airdrop rewards will be distributed based on the proportion of ECO scores that on-chain voting users hold. In other words, the higher a user's voting score, the more token rewards they will receive. ECO scores can be earned through the following three methods:<\/p> 1. Genesis Box<\/strong><\/p> The Genesis Box (GBX) is an early-stage BEVM ecosystem asset used to reward users who supported the project during the mainnet launch. Holders can open the Genesis Box to randomly earn between 500 and 1,500 ECO scores based on their on-chain activity, but the Genesis Box will be consumed upon opening.<\/p> \u00a02. Inviting Users<\/strong><\/p> Users who enter the voting page using an invitation code (the invitee) will receive a 5% score boost. For every vote the invitee casts, the inviter will earn 5% of the score.<\/p> \u00a03. Voting<\/strong><\/p> After earning scores, users can vote for their favorite protocols on the voting page. Each vote earns 100 scores, and there will be a corresponding leaderboard.<\/p> Each month, BEVM will regularly announce the ecosystem projects that have earned the \"Visionary Builders\" title and execute the corresponding incentive plan. This transparent and fair reward mechanism ensures that every participant's efforts are rewarded accordingly.<\/p> BEVM Visionary Builders: The Engine of the Bitcoin Ecosystem<\/strong><\/p> The BVB program is not only an activity to vitalize the ecosystem but also a strategic move by BEVM to promote the prosperity and development of its ecosystem. This program carries profound significance, as it not only brings new opportunities for BEVM but also provides valuable insights for the entire cryptocurrency industry.<\/p> In the cryptocurrency industry, technological innovation, market potential, and community engagement are crucial factors in determining a project's success. By utilizing multi-dimensional evaluation and on-chain community voting, BEVM can not only discover and support projects with the greatest potential but also mobilize community participation. Through market potential assessment, BEVM can identify projects that truly have the potential to reshape the industry landscape and drive the prosperity of the entire ecosystem.<\/p> According to current estimates, BEVM is investing $60 million worth of assets into this program, which is a massive reward rarely seen in the industry. By introducing on-chain voting and multi-dimensional evaluation mechanisms, BEVM ensures that every project and user receives rewards commensurate with their contributions.<\/p> Incorporating a community voting mechanism makes BEVM's governance more decentralized and democratic. In the cryptocurrency industry, decentralized governance is key to enhancing project transparency and credibility. Community users directly participate in project selection through voting, not only increasing their sense of involvement but also ensuring fairness and transparency.<\/p> In the BVB program, BEVM will provide comprehensive technical support to the selected projects, helping them solve technical challenges and enhance their technical capabilities. Additionally, BEVM will leverage various marketing strategies to increase the visibility and influence of the selected projects. Furthermore, BEVM will collaborate with investment institutions like Bitmain, Waterdrip Capital, Satoshi Labs, and exchanges to establish an acceleration fund focused on the BEVM ecosystem, investing in outstanding projects within the ecosystem.<\/p> About The Visionary Builders Program<\/strong><\/p> The launch of the BEVM Visionary Builders program demonstrates BEVM's determination to build a thriving ecosystem. As the program progresses, BEVM is poised to attract more outstanding projects and users to join its ecosystem, further promoting its prosperity and injecting new vitality into the expansion and application of the Bitcoin Layer 2 network.<\/p> Cardiff, \u82f1\u56fd, May 26th, 2024, Chainwire<\/strong><\/span><\/p> On May 20, 2024, the Bitcoin Layer2 development team BEVM<\/a> released the technical yellow paper titled \"Taproot Consensus: A Decentralized BTC Layer2 Solution.\" This paper details the implementation of Taproot Consensus, leveraging native Bitcoin technologies such as Schnorr signatures, MAST, and Bitcoin SPV nodes to build a fully decentralized BTC Layer2 solution. Taproot Consensus represents a significant leap in native Bitcoin scalability, combining existing Bitcoin technologies innovatively without modifying Bitcoin's core code.<\/p> I. History of Bitcoin's Technical Iterations<\/strong><\/p> II. Overview of the Taproot Consensus Solution:<\/strong><\/p> The yellow paper begins by highlighting Bitcoin's non-Turing complete nature and limited functionality for smart contracts. It argues for using Bitcoin's existing capabilities to build a decentralized Layer2 solution rather than modifying Bitcoin Layer1.<\/p> BEVM\u2019s Taproot Consensus combines Bitcoin's Taproot technology (Schnorr signatures and MAST), Bitcoin SPV light nodes, and the BFT PoS consensus mechanism to create a decentralized and consistent Layer2 network.<\/p> III. Detailed Explanation of Taproot Consensus Architecture<\/strong><\/p> The Taproot Consensus architecture comprises three main components: Schnorr+MAST, Bitcoin SPV, and Aura+Grandpa.<\/p> \u00b7\u00a0Schnorr+MAST:<\/strong>\u00a0Uses these technologies from the Taproot upgrade to achieve decentralized Bitcoin multi-signature management driven by Bitcoin code.<\/p> \u00b7\u00a0Bitcoin SPV:<\/strong>\u00a0Allows synchronization and verification of Bitcoin transactions without running a full node.<\/p> \u00b7\u00a0Aura + Grandpa:<\/strong>\u00a0Advanced PoS consensus protocols for Byzantine fault tolerance, ensuring high consistency among network nodes.<\/p> In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The aggregated public key forms a MAST tree, enabling BTC transfers and inscriptions to the threshold signature address. Validators act as Bitcoin SPV light nodes, synchronizing the BTC network state securely and permissionlessly. Aura+Grandpa ensures the Layer2 network's security and trustworthiness, with assets managed by BFT consensus.<\/p> The operating principle of Taproot Consensus is: \"In the BEVM system, each validator holds a BTC private key for Schnorr signatures. The characteristic of Schnorr signatures enables efficient signature aggregation, thereby enhancing the system's security and efficiency. The aggregated public key Pagg, generated through the Musig2 multi-signature scheme, forms a large MAST (Merkle Abstract Syntax Tree). After generating the root hash of the MAST tree, validators perform BTC transfers and inscriptions to the threshold signature address generated by the MAST tree, enabling the submission of data from the BTC mainnet to the BEVM network. Each validator also acts as a Bitcoin SPV (Simplified Payment Verification) light node, allowing them to securely and permissionlessly synchronize the BTC network state.\"<\/p> IV. Other Technical Details in the Yellow Paper - True Decentralization<\/strong><\/p> The yellow paper also details the implementation of Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura+Grandpa, providing a comprehensive technical outline for those interested in Bitcoin technologies. It explains the Musig2 implementation and contrasts with other BTC Layer2 projects like Mezo, which uses the tBTC protocol. Unlike tBTC, which relies on a network of nine signatories, Taproot Consensus integrates multi-signature networks with BFT PoS consensus, achieving true decentralization.<\/p> Moreover, the yellow paper explains the implementation process of Musig2 and the differences between other BTC Layer2 projects like Mezo and Taproot Consensus. Mezo's underlying technical structure is based on the tBTC protocol, which uses Bitcoin multi-signature to construct a threshold signature network, offering strong consistency compared to traditional distributed networks. However, tBTC still relies on a network of nine signatories, whereas a truly decentralized system should be consensus-driven, combining multi-signature networks with BFT PoS (Byzantine Fault Tolerance Proof of Stake) consensus mechanisms. This is the difference between distributed networks and blockchains; distributed networks emphasize distribution but lack Byzantine fault-tolerant consensus, whereas blockchains, while also being distributed networks, are driven by Byzantine fault-tolerant consensus, achieving true decentralization. The Taproot Consensus solution adopts this more advanced design. By integrating Schnorr signatures, MAST, Bitcoin SPV light nodes, and Aura and Grandpa Byzantine fault-tolerant consensus mechanisms, it constructs a highly consistent and secure decentralized Layer2 scalability solution. This integration enhances the scalability and usability of the Bitcoin network and ensures the security and consistency of the BEVM network.<\/p> Conclusion<\/strong><\/p> The BEVM team's technical yellow paper comprehensively describes Taproot Consensus, a Bitcoin Layer2 solution built entirely on native Bitcoin technologies. It respects and innovates on Bitcoin's original technological direction, making it a true evolution of native Bitcoin scalability technology. As the Bitcoin ecosystem evolves, solutions like Taproot Consensus will be crucial for its development, serving as major cornerstones for truly decentralized Bitcoin Layer2 solutions.<\/p> About BEVM<\/strong><\/p> BEVM is the first fully decentralized, EVM-compatible Bitcoin Layer 2 solution. It allows Ethereum ecosystem DApps to operate on Bitcoin, using BTC as gas. BEVM enhances Bitcoin's utility by providing a secure and scalable platform for decentralized applications. The system integrates advanced consensus mechanisms, cross-chain interaction, and robust data integrity to ensure a seamless experience. BEVM aims to innovate within the Bitcoin ecosystem by offering increased scalability, security, and compatibility with popular Ethereum tools and applications.<\/p> For more information, users can visit BEVm's official<\/a> website or follow BEVM on Twitter<\/a>.<\/p>Jackson commented, \u201cWe are thrilled to launch our external co-mingled fund vehicle. Our key value proposition lies in our ability to outperform traditional hedge funds by capitalizing on crypto\u2019s high volatility and inefficiencies, all while avoiding the significant volatility and drawdowns of the underlying crypto assets through highly structured and repeatable trading processes and algorithms.\u201d<\/blockquote>
Contacts<\/h5>Investor Relations Director<\/strong>
<\/span>Charles Man<\/strong>
<\/span>[email protected]<\/strong>
<\/span>Investor Relations Director<\/strong>
<\/span>David Scicolone<\/strong>
<\/span>[email protected]<\/strong>
<\/span>\n","post_title":"Promontory Technologies Goes Live for External\/LP Investors","post_excerpt":"Road Town, British Virgin Islands, 25th June 2024, Chainwire","post_status":"publish","comment_status":"closed","ping_status":"","post_password":"","post_name":"promontory-technologies-goes-live-for-external-lp-investors","to_ping":"","pinged":"","post_modified":"2024-06-25 18:28:32","post_modified_gmt":"2024-06-25 08:28:32","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17551","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17459,"post_author":"2","post_date":"2024-06-20 12:06:57","post_date_gmt":"2024-06-20 02:06:57","post_content":"\n\u201cBacking the Zeek team resonates with our goal of supporting bold founders in building the future of the open internet, and it is definitely an exciting opportunity to participate in the nascent growth of something new in the SocialFi space. Our confidence in the team's vision and execution capabilities strengthens our commitment to helping their growth,\u201d said Thanh Le, the Founder of Nighty Eight.<\/blockquote>
\u201cWe see significant potential in consumer-oriented initiatives like Zeek that blend real use cases with gamified experiences in social and gaming contexts. Zeek's decentralized collaboration economy promotes organic collaboration through on-chain bounties. By monetizing the idle value of social networks and personal skills, it creates new opportunities for all participants. We are confident that this will make disruptive technologies accessible and enjoyable for mainstream audiences,\u201d said Suji Yan, the Founder & CEO of Mask Network<\/blockquote>
![](\"https:\/\/www.thedistributed.co\/wp-content\/uploads\/2024\/06\/AD_4nXfPRebgeXBIe7-be6fp86LV0-4_Re6nrINiHqbQW8_LY_1718344312fKI2aFojfD.jpeg\")
(Image 1: \u2018Wish\u2019 on discovery page)<\/p>\u201cThe future of SocialFi is to create new social economies through the financialization of existing social behaviors and hence, we have built Zeek as we believe the endgame of SocialFi is the reputation layer, which bridges the gap between social influence and on-chain identities,\u201d said Angus Ko, CEO of Zeek.<\/blockquote>
Contact<\/h5>PR Manager<\/strong>
<\/span>Kelvin Yeo<\/strong>
<\/span>Everest Ventures Group<\/strong>
<\/span>[email protected]<\/strong>
<\/span>\n","post_title":"Zeek, a New Decentralized Social Collaboration Network, Raises USD 3M Seed Funding To Reinvent Social Reputation In Web3","post_excerpt":"Hong Kong, Hong Kong, 20th June 2024, Chainwire","post_status":"publish","comment_status":"closed","ping_status":"","post_password":"","post_name":"zeek-a-new-decentralized-social-collaboration-network-raises-usd-3m-seed-funding-to-reinvent-social-reputation-in-web3","to_ping":"","pinged":"","post_modified":"2024-06-20 12:06:57","post_modified_gmt":"2024-06-20 02:06:57","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17459","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17292,"post_author":"2","post_date":"2024-06-07 21:18:58","post_date_gmt":"2024-06-07 11:18:58","post_content":"\n![](\"https:\/\/www.thedistributed.co\/wp-content\/uploads\/2024\/06\/WechatIMG71_1717672553mN2FmLo3Fv.jpg\")
<\/p>Contact<\/h5>brand<\/strong>
<\/span>BEVM<\/strong>
<\/span>[email protected]<\/strong>
<\/span>\n","post_title":"BEVM Visionary Builders (BVB) Program Launches a 60 Million Ecosystem Incentives Program","post_excerpt":"HongKong, China, 7th June 2024, Chainwire","post_status":"publish","comment_status":"closed","ping_status":"","post_password":"","post_name":"bevm-visionary-builders-bvb-program-launches-a-60-million-ecosystem-incentives-program","to_ping":"","pinged":"","post_modified":"2024-06-07 21:18:58","post_modified_gmt":"2024-06-07 11:18:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17292","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17090,"post_author":"2","post_date":"2024-05-26 21:00:59","post_date_gmt":"2024-05-26 11:00:59","post_content":"\n![](\"https:\/\/www.thedistributed.co\/wp-content\/uploads\/2024\/05\/FMMKxcVPs-p0_AS4RI0PSaLW30sDx4NlpN2efnJv0HmeZMR0fD_1716520600YtPGpqvoWs.jpeg\")
<\/strong><\/p>Contact<\/h5>Tommie<\/strong>
<\/span>BEVM<\/strong>
<\/span>[email protected]<\/strong>
<\/span>\n","post_title":"BEVM Unveils Groundbreaking Taproot Consensus for Decentralized Bitcoin Layer 2 Solution","post_excerpt":"Cardiff, \u82f1\u56fd, 26th May 2024, Chainwire","post_status":"publish","comment_status":"closed","ping_status":"","post_password":"","post_name":"bevm-unveils-groundbreaking-taproot-consensus-for-decentralized-bitcoin-layer-2-solution","to_ping":"","pinged":"","post_modified":"2024-05-26 21:00:59","post_modified_gmt":"2024-05-26 11:00:59","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17090","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
