hydro

ChainCatcher news, according to on-chain data monitoring from BNB Chain, the Isfayram Hydropower Station RWA recently completed $1 million in on-chain financing, with the on-chain circulating market value of the related token IHP surpassing $10 million, and the price of IHP token increased by 261.33% within 24 hours.The IHP financing was completed through the BNB on-chain RWA infrastructure PicWe, with funds primarily coming from the public offering round. According to the PicWe website, the annualized return for IHP investors is 20%. The official website of the Isfayram Hydropower Station in Kyrgyzstan shows that the first phase of construction has been completed, and the first batch of units is now in operation. The funds raised through RWA will be used for the construction and operation of phases two to five of the hydropower station, significantly shortening the project construction cycle.IHP has been listed for trading on PicWe's exclusive RWA DEX. The RWA DEX employs a Bonding Curve and Treasury Floor Price mechanism to implement an automatic protection mechanism against RWA declines, ensuring the interests of RWA investors. The IRO (Initial RWA Offering) model pioneered by PicWe creates a closed loop for RWA primary fundraising and secondary market trading, using smart contracts to reduce the risk of "difficult to realize fixed returns" for RWA project parties, and building a win-win RWA on-chain ecosystem for enterprises, investors, and traders.

ChainCatcher news, according to Coinpedia, the Lao government plans to utilize the surplus electricity generated from its hydropower projects to engage in Bitcoin mining, aiming to create new revenue sources through digital asset mining and alleviate the debt pressure caused by large-scale hydropower investments.In recent years, Laos has vigorously developed hydropower, with electricity exports accounting for 26% of total exports, but due to insufficient domestic and foreign demand, there is an electricity surplus. The government hopes to transform its energy advantages into economic growth through cryptocurrency mining and attract local digital asset investments to achieve fiscal stability.

ChainCatcher news, Binance founder Zhao Changpeng stated on social media that Bhutan is utilizing excess hydropower resources for Bitcoin mining.

ChainCatcher news, WORLD3 announced its participation in the Sui Hydropower program initiated by Sui Network, an important initiative aimed at accelerating the construction of innovative projects on the Sui blockchain. Over the next 12 weeks, WORLD3 will engage in intensive practical workshops and receive guidance from industry experts to further enhance its groundbreaking AI Agent technology, creating fully automated solutions tailored for the Sui ecosystem.Through the Sui Hydropower program, WORLD3 will receive strategic support from Sui, including customized learning courses on product-market fit, monetization strategies, growth strategies, and comprehensive roadshow preparation for demo day. Collaborating with industry experts, entrepreneurs, and venture capitalists supporting Sui will help WORLD3 establish strategic partnerships, attract potential investments, and actively promote the future development of AI-driven innovation on the Sui blockchain.

ChainCatcher news, the Sui Foundation Hydropower Accelerator Program announced 12 winning projects, including the DeFi aggregator 7k, the peer-to-peer advertising network AdToken, the stablecoin-based fintech operating system CryptoMate, the digital rewards platform Gifted, the DeFi analytics and insights platform InsiDeX, the decentralized market maker and high-frequency trading infrastructure Lotus Finance, the liquidity layer Nativerse, the yield trading platform Nemo Protocol, the DePIN project Pomerene, the tokenization and financing platform Printr, the media Protocol Media Labs, and a project currently under confidentiality.Winning projects will have the opportunity to gain in-depth knowledge of Sui, meet with other developers, receive mentorship, learn from experts in the Web3 field, and gain practical support from the Sui Foundation.

ChainCatcher news, according to Bitcoin News, Ethiopia is using the excess hydropower from its Renaissance Dam to power Bitcoin mining, successfully earning $1 billion in revenue last year, accounting for 18% of its electricity revenue.This move has attracted global investors who benefit from the country's low energy costs.

ChainCatcher news, Cosmos Hub supports the "Liquid Staking Module (LSM)" proposal. The officials stated that due to the initial LSM proposal having editing contributions from North Korean IT personnel, Informalinc and ATOM Accelerator are conducting a third-party audit of LSM and have postponed the Hydro project originally scheduled to launch this week. Hydro is an upcoming liquidity allocation platform developed by Informal Systems for the Hub, which uses LSM to allow ATOM stakers to participate in the voting process without having to unbond, forfeit staking rewards, or favor any single liquid staking provider.

ChainCatcher news, Cosmos Hub posted on platform X that the Hydro protocol will soon be launched, and ATOM stakers participating in the voting will receive incentives.According to the Cosmos announcement, users must first stake their ATOM tokens and convert them to LSM, then transfer the LSM to Neutron to gain voting rights. Each time they participate in a proposal vote, they will receive incentives, and the fewer people who choose the same option, the higher the rewards.

ChainCatcher news, the Cosmos Hub official announced on social media that proposal 955 has been approved, and the existing PoL (Proof of Liquidity) export will be rerouted to the Hydro platform.It is reported that through this process, participants will be able to directly obtain liquidity from the Cosmos Hub.

ChainCatcher message, Cosmos Hub initiated a proposal to transfer 1 million ATOM from the Cosmos Hub community pool to the Hydro committee to enhance ATOM liquidity.It is reported that Hydro is a liquidity management protocol that allows projects to bid for liquidity.

ChainCatcher news, according to the U.S. Department of Justice, two men have been sentenced for manipulating the price of the cryptocurrency HYDRO from Hydrogen Technology and defrauding investors. 32-year-old Shane Hampton, a resident of Philadelphia, was sentenced to two years and 11 months in prison, while 39-year-old Michael Kane, a resident of Miami Beach, was sentenced to three years and nine months in prison.The Department of Justice stated that this is the first federal criminal trial to recognize cryptocurrency as a security and determine that manipulating cryptocurrency prices constitutes securities fraud. Kane and Hampton used a trading bot through the South African company Moonwalkers Trading Limited to manipulate the price of HYDRO from October 2018 to April 2019, engaging in approximately $7 million of "wash trading" and over $300 million of "fake trading." They made about $2 million in profits from the manipulation. Kane pleaded guilty in November 2023, and Hampton was convicted by a federal jury in February 2024.

ChainCatcher news, Cosmos announced the launch of the cross-chain auction platform Hydro, which is a bidding and governance platform for efficiently deploying liquidity in the cross-chain ecosystem. It is at the core of the "ATOM wars" and a response to the biggest challenge since the inception of cross-chain—token liquidity.Hydro draws inspiration from the "Curve wars" on Ethereum, applying a similar model to enhance governance and strategic liquidity provision. Hydro will enable Cosmos Hub and other projects to leverage the demand from other projects for adding liquidity of ATOM and other tokens to their systems.Hydro offers key features such as token locking, voting rights, bidding rules, voting rules, and fund allocation rules. Native token holders will lock their tokens on the platform in exchange for "Hydro locked tokens," granting them influence over funding allocation decisions through a series of periodic auctions.Projects compete for access to these funds through the governance power of hATOM holders (although Hydro may accept locking multiple native tokens in the future, the current focus is on ATOM/hATOM). This process operates as an auction market. The allocation of funds to projects is temporary (similar to a loan), promoting competition and ensuring resources are distributed to multiple projects over time.Auctions are held regularly. In each round of the auction, participating projects detail their funding needs, proposed uses, and the amounts they are willing to pay to support hATOM holders. At the end of each round, projects are ranked based on the support from hATOM holders and funds are allocated accordingly.

ChainCatcher news, according to Cointelegraph monitoring, Paraguayan senators have suspended the progress of the cryptocurrency mining ban, considering selling excess energy from the Itaipu hydroelectric plant to miners instead of exporting it to Brazil and Argentina. Senator Lilian Samaniego confirmed that a hearing will be held on April 23 to debate the pros and cons of Bitcoin mining.Previously, lawmakers were concerned about illegal mining operations stealing electricity and proposed a temporary ban. However, lawmakers have changed their stance, supporting investment in infrastructure and hoping to achieve higher profits by selling energy to miners. Senators expect that by 2025, licensed mining operations will generate over $125 million in revenue for the National Electricity Administration.The cost of electricity from the Itaipu hydroelectric plant in Paraguay is low, allowing for a 45% net profit margin when sold to miners, resulting in annual revenue of $73 million and an additional $17 million in taxes. This move could help the electricity administration avoid bankruptcy and create more job opportunities.

ChainCatcher news, the liquid staking protocol Hydro Protocol announced on platform X that it has completed a new round of financing, with participation from Injective, Vessel Capital, Moonhill Capital, SkyVision Capital, Exnetwork Capital, Quantstamp, BlackDragon, Trinito, verse2, PAKA, coinseeker.co, CSP DAO, ODIG, DoraHacks, and a high-quality angel investment team. The amount of financing has not been disclosed.It is reported that Hydro Protocol is a native LSD+LSDfi protocol built on Injective, set to launch its mainnet on January 31, 2024. Currently, the protocol's TVL exceeds 100 million USD.

ChainCatcher news, according to Bitcoin Magazine, the Prime Minister of Montenegro met with JAN3 CEO Samson Mow to discuss the possibility of issuing "Bitcoin Hydro Bonds" to leverage its river network.

ChainCatcher news, according to a report by The Paper, multiple regions in Sichuan are continuously carrying out inspections and rectifications of virtual currency "mining" activities to prevent a resurgence of "mining." The official website of the Liangshan Prefecture Financial Work Bureau recently stated that in early August, it had conducted supervision and inspection of the "mining" rectification work at hydropower stations, rechecking confirmed shut-down virtual currency "mining" projects and urging the towns under the jurisdiction of the hydropower stations to implement the responsibility system for the rectification of virtual currency "mining" activities.The Development and Reform Bureau of Shimian County stated that since 2021, it has cleaned up and rectified 48 projects, identifying a total of 42 enterprises and individuals involved in virtual currency "mining" in the county, with over 126,000 mining machines discovered. Currently, all 191 small hydropower stations in the county have completed the clearance of virtual currency "mining" equipment.

According to ChainCatcher, as reported by Cointelegraph, the U.S. Department of Justice (DOJ) has charged former Hydrogen CEO Michael Ross Kane, financial engineering head Shane Hampton, and George Wolvaardt, blockchain engineer Andrew Chorlian, and former Moonwalkers CEO Tyler Ostern with manipulating the price of Hydro tokens, resulting in illegal profits of approximately $2 million.Kane, Hampton, and Wolvaardt are each charged with one count of conspiracy to manipulate securities prices, one count of conspiracy to commit wire fraud, and two counts of wire fraud, respectively. Ostern and Chorlian are each charged with one count of conspiracy to manipulate securities prices and wire fraud.It is reported that Moonwalkers is a market-making company, and Tyler Ostern designed bots to execute a large number of high-value "fake orders" at obscure time intervals, making it appear as though there was extremely high demand for Hydro tokens. (source link)

According to Chain Catcher news and reported by Bitcoin.com, the Central Bank of Russia and the Ministry of Finance have recently reached an agreement on legislation aimed at regulating cryptocurrency mining, which is expected to be passed by the end of this year. Russian officials involved in the legislation stated that cryptocurrency mining should be allowed in areas with surplus energy, but prohibited in areas with energy shortages.Additionally, according to Roman Nekrasov, co-founder of the ENCRY Foundation, many cryptocurrency mining farms have already gathered in regions with hydropower plants and nuclear power plants in Russia. These areas include the Irkutsk region with hydropower plants and the Krasnoyarsk Krai, as well as the Tver, Saratov, Smolensk, and Leningrad regions that have nuclear power stations.Furthermore, Roman Nekrasov also expects Russia to strengthen its crackdown on illegal mining in Dagestan. (Source link)

Chain Catcher News, the U.S. Securities and Exchange Commission (SEC) has charged Hydrogen and the market maker Moonwalkers with market manipulation and unregistered securities offerings. Hydrogen distributed its Hydro tokens through a bounty program and airdrops in 2018, while also selling tokens directly to users via its trading platform. During this period, Hydrogen's CEO hired Moonwalkers to conduct wash trading, creating a false appearance of market activity, stabilizing token prices, and increasing user interest.According to the SEC, the act of wash trading constitutes market manipulation, and despite avoiding an ICO by opting for airdrops and bounty programs, it still amounts to unregistered securities offerings. (Source link)