The team has put a great deal of effort into detailing the issue that led to the deposit pause earlier this week. We are working with our audit partners to confirm the issue and resolution, and have outlined steps for improvement and future tBTC deployment.

Thank you all 🙏 for your patience as we work to bring BTC to Ethereum. We hope that this accounting of this event demonstrates our commitment to overall security of funds🔒, and look forward to helping give your BTC additional functionality very soon.

Read the full report on the Keep blog

Security is our top priority building tBTC. A trust-minimized BTC/ETH bridge is only as valuable as users are confident.

To that end, we’ve published our plan for bringing hardened tBTC contracts to mainnet. We are now moving to a release candidate model with a BTC hardcap that increases monthly as the contract is battle-tested and incident-free. We have added additional security audits as well as increased the maximum bug bounty reward by 10x to 1M KEEP. We will also be disabling the red lever after 12-months incident-free. The full details are in our blog post.

🏰 Playing for Keeps 🗡continues as usual, and the Stakedrop event will still happen on June 8th.

👍 We really like seeing independent pieces like this one from Alex Manuskin - a detailed look at the tBTC system and what differentiates it from custodial options like wBTC, as well as a look at the redemption issue uncovered last week. We also happen to agree with Alex’s headline - tBTC’s brightest days are ahead!🌞

Have you written something you think we should see? Jump into our Discord server and link us!

Matt wrote a strong background piece on his motivations for creating Keep and tBTC back in March, and we think it provides some great context into why we’re shipping tBTC, as well as some of the crypto philosophy behind the project. If you missed it the first time around, it’s definitely worth a read! 👀

👇👇👇
https://thesis.co/reflections-of-a-monetary-maximalist

🤝We’re joining up with @CryptoradoCom to bring Keep and #tBTC to more buidlrs! Tonight at 6:30pm MDT @CReckhow will be presenting tBTC as money lego, a piece of DeFi, & how you can get involved.

Cryptorado is currently virtual, so you can tune in from anywhere 🗺

Join the event here 👈👈

The submissions are in, and the judges have deliberated…🥁

🚨Our first round of Playing for Keeps winners have been announced!🚨 We received over 100 entries, and have allocated 1M KEEP tokens for the 53 winners this month! 🏆

Dig into May’s awards and find out what contributions were rewarded in our latest blog post 👈👀👈

If you missed entering or your submission wasn’t chosen for a prize this round, Playing for Keeps is ongoing, so you're still able to contribute and earn KEEP. Join our Discord 🏰to get started.

📣 In case you missed the live stream of our Stakedrop virtual event 📣, we’ve put together a short summary of the details shared, along with a link to rewatch 📺 the event in its entirety.
Check out the post here 👈

We hope to get all newcomers comfortable running their testnet nodes 💻 before transitioning to mainnet. If you're still having trouble getting your node running, drop into our #staking channel on our Discord server - the Keep team 🏰 and our community 🤝 can get you going!

👉 We’re sponsoring several privacy-focused bounties through Gitcoin’s Protecting Privacy virtual hackathon, and giving you another way to earn KEEP! 💪

We’ve created a couple project ideas as starting points for bounties, but we encourage you to be creative here! The bounty titles are:
- Randomness for privacy 🔢
- tBTC privacy hacks 🔐
- Hack a Zcash relay for tZEC 💻
- Signature test vector library 👀

We’ve always been focused on privacy🔒 and ⛓open-source development, and this hackathon is one way we hope to support our communities. Find out more details about the specific bounties in our blog post and then sign up 📝 to hack with us on Gitcoin!

🎉🎉🎉

Spencer Noon 🕛 is our Playing for Keeps guest judge in June!

Spencer gave us a little detail on some of the contributions he would like to see 👀and reward 🏅this month, particularly around analytics and tools to monitor network health.

🤔 Want to get some ideas for more Playing for Keeps contributions? Read more in our blog post 👈

Our project lead 💪 Matt gave a project update earlier this month at Messari Mainnet. If you missed the event, the recording is now available at 👉 https://messari.io/article/keep-network-project-update-mainnet-2020

Matt also recently appeared on the Zero Knowledge Podcast with Anna Rose and Fredrik Harrysson, where they dug into the relationship between thesis *️⃣, Keep 🏰, and tBTC⛓, the details behind the tBTC rc.0 bug, and some ideas for the future. Check it out at https://www.zeroknowledge.fm/134 👀

Spencer Noon 🕛 reviewed June’s Playing for Keeps entries, and Itzler’s work pulling together a tBTC Dashboard with Dune Analytics took top prize!

🏰⚔🙌

In all, we distributed 2 million KEEP(!), with over 100 community members receiving prizes of at least 5k KEEP. The full results from this month along with details of how to enter contributions for July are in our latest blog post 👀

We believe the most resilient projects in the space are transparent and open source. 🔍👀

We’ve partnered with Messari to bring token transparency for the KEEP token to their Disclosures Registry. 🤝We take transparency seriously, and hope that this provides valuable information for the community, compiled by an outside party.

You can find more information about what this means to us in our 👉 blog post 👈

🚨Hackathon results incoming!🚨

We had a KEEP bounty in the recently wrapped Protect Privacy hackathon with Gitcoin, which focused on building out privacy-focused 🔐 tools sponsored by some of the leading teams in the blockchain and privacy spaces. Our top bounty winner of 50k KEEP was tBTC 🌪Tornado Cash, which implemented tBTC on Tornado Cash. Runners-up with prizes of 20k KEEP each were a second implementation of tBTC on Tornado Cash, tBTC Tornado, and a tBTC and Umbra Protocol mashup. 🙌

If you’re interested in more details about the projects, check out our latest 👉 blog post 👈

ICYMI 👀

This week, Keep and tBTC was featured in Paul Veradittakit’s Newsletter 🗞. Paul breaks down the issue of privacy on public blockchains ⛓, how the Keep network enables private data interaction with public chains 🏰, and outlines some of the possible use cases this unlocks 🔓- a solid piece to check out if you’re considering building something that requires private data, or if you are interested in general privacy tooling for public blockchains.

👉You can read the post in full at the VeradiVerdict Substack 👈

🎉The winners from the Festival hackathon are now in! 🏆

🥁🥁🥁
We chose Ple-BTC as the top winner of 75k KEEP. Read more about all the projects that came together in the Keep blog 👈

There’s a strong chance that if you’re reading this, you’re a Millennial 👀 💅

That’s for good reason - you’re tuned into channels where we’re redesigning financial tools in the shadow of a financial system that has largely disenfranchised our peers. 🙅‍♂️🙅‍♀️

Matt explores how Millennials are reshaping the future of finance 🤑 in the International Business Times - you can read it here!

🚨Panel Alert!🚨

Join Matt as he discusses the state of #BTC pegs and how #tBTC functions as a supply pegged #ERC20. Matt will be joined by Summa’s James Prestwich, Chjango Unchained, and Nomic’s Matt Bell on the Cosmos YouTube channel. The panel is live at 5PM EDT!

⏰ It’s tiiiiiiime ⏰

We are ready to start making noise 🎉 about the tBTC mainnet contracts being live on the Ethereum mainnet! 🙌

If you’re as excited as we are to be announcing the mainnet contracts today, help us spread the word!
- The new blog post is here: https://blog.keep.network/tbtc-the-safe-way-to-use-bitcoin-in-defi-is-live-on-tbtc-network-de2bb8b6eaf7
- The tBTC twitter announcement is here:
The tBTC Discord is here: https://discord.gg/TytRYBe
- You can mint tBTC (!!!) at https://dapp.tbtc.network

📣👀💪🏰⛓

IOSG VC put out a blog post on tBTC 👀

We’re so happy to have them on board 💪 and are looking forward to developing a stronger Asian community presence in the future! 🙌

⚔️

Check out what they had to say about our system!

Today at 1:20 EST our founder Matt Luongo is speaking on an ETHDenver panel called "War & Peace: The Multi-chain Reality" 🎙 👏

https://twitter.com/keep_project/status/1359151979298185222

Watch the full panel live👇

twitch.tv/ethereumdenver