75,000 KEEP has been awarded to PleBTC as part of the Festival Hackathon, which took place from July 10–12. PleBTC is designed to adapt statechains, a mechanism originally meant as a layer 2 solution for Bitcoin, for porting BTC to the Ethereum network as a token — similar to tBTC.

The Festival Hackathon is focused on compassionate technology built for socio-economic autonomy. Thesis, the venture studio behind the Keep Network, served as a technology partner for the event and selected the winner of the award. Entries were judged on the following five criteria:

• Alignment: the project must fit the mission of “compassionate technology for socio-economic autonomy”?
• Completeness: the submission must describe the problem and solution, and must show a working implementation of the solution (with links to a working demo)
• Efficacy: implementation must solve the problem being addressed
• Difficulty: greater weight is given to projects with a lot of technical challenges
• Inventiveness: any proposed solution must be creative

Several of the hackathon’s other participants used Keep in their projects, including tbtc4u, Secrets Market, and black mirror. A full list of submissions is available here.

PleBTC joins other developer projects that have won KEEP recently, both in Gitcoin’s Protect Privacy Hackathon and Playing for Keeps, which is now in its third month. People can Play for Keeps each month for a chance to win up to 200,000 KEEP and the praise of our guest judges.

Learn more about Playing for Keeps, and stay up-to-date on Keep and tBTC developments, by joining the Discord channel.