Non-profit organization supporting Ethereum, Ethereum Foundation announced the launch of the Deep Funding Christmas mini-contest. The initiative aims to create a distilled human judgment mechanism to predict the historical funding amounts received by open-source projects. The contest is open now and will run until 11:59:59 AoE on January 26th, with results announced on January 27th.
Currently, the contest dataset includes 3,410 comparisons across 245 repositories, with 2,387 available for training and 1,023 for scoring. Participants are tasked with making 1,023 predictions about the relative funding received between any two projects, which will be tested against actual data. New submissions, such as open-source models, valuable datasets, or infrastructure that benefits other participants, are eligible for up to $20,000 in prizes.
What Is Deep Funding And How Does Mini Contest Work?
The Deep Funding initiative operates with three interconnected components. It begins with an unweighted dependency graph that identifies all contributions forming part of a valuable project. This is followed by submissions of deep learning models that assign weights to the relative value of each contribution. Finally, a human judgment mechanism performs manual comparisons of a subset of contributions to select the model that aligns most closely with human preferences. The winning model is then used to allocate funding based on its proposed weights.
This technology is designed to support all relevant dependencies, extending beyond those that apply for funding in a specific round. Its objectives include eliminating the need for extensive public campaigning or cultivating favor with decision-makers to secure funding. Additionally, it facilitates the operation of more frequent funding rounds for a larger number of projects by replicating expensive funding mechanisms, ensuring accessibility and fairness on a broad scale.
Gate.io Boasts Reserves Of $9.566B, With Gate Earn Surging 185%
Moreover, in 2024, Gate.io demonstrated strong performance in reserve fund management, providing users with enhanced security. The platform’s total reserves reached $9.566 billion, with a reserve ratio of 123.91%, reflecting a 47.2% increase from the previous audit. Excess reserves reached a record high of $1.846 billion, marking a 68.89% rise and positioning Gate.io as a top performer among major platforms. The reserve ratios for leading cryptocurrencies like Bitcoin and Ethereum were 124.47% and 128.52%, respectively, surpassing the industry average by 20 percentage points.
Additionally, Gate Entities reinforced its compliance framework, actively engaging in regulatory efforts across various regions. By acquiring Coin Master, Gate expanded its compliance operations in the Asian market. The platform also submitted a MiCA license application through its Malta entity, bolstering its compliance presence in Europe, and acquired Sheer Markets, a licensed institution in Cyprus. Gate Entities completed its VASP registration in Argentina and is pursuing compliance efforts in key global markets, such as Gibraltar, the Bahamas, Hong Kong, Singapore, and the Middle East, setting the stage for future global expansion.
Gate.io achieved notable financial milestones, particularly within the Gate Earn product suite. Daily funds in Gate Earn surged by 185%, reaching nearly $2 billion USDT, with over 500,000 new users contributing to a 205% year-on-year growth. The platform supports 832 tokens and offers rewards pools for major cryptocurrencies like USDT, BTC, and ETH, with up to 30% additional returns.
The platform continued to meet the diverse needs of its users, managing 665 projects with a total fund scale of $18 billion. The platform’s innovative products, including on-chain staking, dual-currency investment, and GT mining, enhanced asset management flexibility and expanded investment opportunities.
Gate.io Forms Collaborations With Industry Leaders To Drive Innovation And Growth
The exchange also formed strategic partnerships with key industry players to advance blockchain innovation and ecosystem development. Collaborations included partnerships with Elliptic and Chainalysis to improve compliance and security, a $10 million investment in The Open Network (TON), and a $100 million Web3 innovation fund co-launched with the Abu Dhabi Blockchain Center. Other collaborations focused on developing the Move ecosystem, among other initiatives.
Gate.io strengthened its ties with global cloud providers to enhance performance and security while continuing to invest in Web3 and blockchain innovation. Gate’s efforts in ecosystem development have solidified its leadership in the cryptocurrency space.
In a noteworthy move, it became the official sleeve sponsor for Inter, creating new market opportunities for the crypto sector.
In 2024, Gate.io solidified its leadership in the digital asset trading space, driven by innovation and a diversified ecosystem. With strong growth in trading volume and a thriving portfolio of innovative businesses, Gate maintained strong market competitiveness and industry influence.
Looking to the future, the platform plans to continue driving innovation, expand into emerging markets, and enhance blockchain technology applications. The platform aims to provide users with diverse, high-quality products and services while upholding its commitment to social responsibility and leveraging technology to foster social progress.
Gate.io will collaborate with users and global partners to continually improve products, optimize services, and contribute to the development of a secure, transparent, and open Web3 ecosystem.
