## v1.8.0 - 2026-08-24

- Accounts for MatMul v4.7 Epoch A at block 185,000: era-indexed security weight `w(h)=w_v3*Ω` after the fork.
- Splits mixed 6,720-block `getnetworkhashps` windows so pre/post chainwork are never averaged.
- Bypasses the 7-day downward release envelope at the unit rebase (not a real decline).
- Publishes a separate INT8 TOPS / H100-eq / P_prod series. Security stays continuous; useful compute may step.
- Forward trend uses security-equivalent hashrate so the fork is not treated as a compute collapse.
- Updates the public formula string, methodology docs, C reference source, downloadable workbook, and regression tests.

## v1.7.5 - 2026-07-05

- Recasts scenario security caps as incremental BTX/BTC security headroom over the current chain-observed level.
- Updates the bear/base/bull headroom scale for the BTC-priced MatMul regime: 2.50%, 10.00%, and 35.00% additional Bitcoin-equivalent security share.
- Restores a materially upward probability-weighted Forward Market Price path after recent compute growth instead of letting bear/base flatten because current security exceeded old absolute caps.
- Updates the public formula string, methodology docs, C reference source, downloadable workbook, and regression tests.

## v1.7.4 - 2026-07-05

- Wires the bounded recent one-week MatMul-rate trend reference into live ingest, cache fallback, and valuation-history rebuilds.
- Makes Forward Market Price and projected BTX/BTC difficulty respond to sustained compute acceleration while keeping short-window spikes bounded.
- Exposes `network_matmul_rate_reference_hps`, `network_matmul_rate_reference_months`, and each forward row's `btx_security_percent_forward` for auditability.
- Moves the current BTX Difficulty vs BTC dashboard chart directly after the current BTX/BTC price chart.
- Updates the public formula string, Markdown docs, C reference source, and downloadable workbook.

## v1.7.3 - 2026-06-21

- Smooths the Forward Market Price and projected 12-month difficulty paths.
- Applies each scenario security cap to the 12-month terminal security target before monthly interpolation.
- Preserves the BTC-equivalent compute invariant and the 12-month terminal scenario values.
- Removes pre-horizon cap plateaus that made the 11-12 month forward price and difficulty segments look artificially flat when bear/base paths were already cap-bound.
- Updates the public formula string, Markdown docs, C reference source, and downloadable workbook.

## v1.7.2 - 2026-06-15

- Removes the effective MatMul release envelope from the headline valuation path.
- Computes `model_compute_floor_usd` as `compute_floor_usd * btx_supply_multiplier`.
- Computes `spot.usd` and Forward Market Price from current `network_matmul_rate_hps`, preserving the BTC-equivalent compute invariant when BTX compute and Bitcoin price rise.
- Keeps `effective_network_matmul_rate_hps` and release-envelope metadata available for diagnostics and historical audit only.
- Updates the public formula string, Markdown docs, C reference source, and downloadable workbook.

## v1.7.1 - 2026-06-15

- Corrects the public nonce-rate presentation after review of BTX v2/v3/v0.32.11 solver changes.
- Makes `network_matmul_rate_hps = getnetworkhashps(6720)` the dashboard headline and chart field for BTX network compute.
- Keeps `btx_nonce_rate_raw` as the legacy-compatible protocol audit field, not the BTC-equivalent compute series.
- Makes nonce metadata method reporting height-aware so pre-132,000 rows do not advertise the v0.32.11/v3-fix method early.
- Leaves valuation arithmetic unchanged because pricing already used the linear network MatMul-rate security input.

## v1.7.0 - 2026-06-15

- Adds BTX v0.32.11 guidance and the full public nonce protocol schedule.
- Keeps nonce-seed v2 at block 125,000 as the point where nonce/header-bound MatMul work replaces the legacy shared-seed transform.
- Adds nonce-seed v3 parent-MTP binding at block 130,500 as an explicit method-validation boundary.
- Adds the v0.32.11/v3-fix guidance boundary at block 132,000.
- Keeps `network_matmul_rate_hps = getnetworkhashps(6720)` as the BTC-equivalent valuation security input; v3 and v0.32.11 do not change the Bitcoin-style chainwork/sec formula.
- Updates chart/backfill guidance so method-label changes do not create artificial compute-power drops or history gaps.
- Updates the public formula string, Markdown docs, C reference source, and downloadable workbook.

## v1.6.0 - 2026-06-09

- Accounts for BTX nonce-seed v2 at block 125,000, introduced for v0.32.2+ consensus.
- Retains the legacy shared-seed raw-nonce model for rows at block 124,999 and below.
- Recalculates rows at block 125,000 and above with a height-weighted one-week transition because post-activation MatMul seeds are nonce/header-bound.
- Keeps `network_matmul_rate_hps = getnetworkhashps(6720)` as the linear valuation security input, so the valuation model does not require a disruptive repricing formula change.
- Adds public API/docs metadata for `nonce_seed_v2_activation_height`, the legacy method, the current nonce-seed-v2 method, and the recalculation notice.
- Updates the public formula string, Markdown docs, C reference source, and downloadable workbook.

## v1.5.0 - 2026-06-07

- Makes the BTX Forward Market Price supply-aware.
- Computes the forward value as a forward market cap from the existing linear security-adoption path, then divides by projected BTX supply at the horizon.
- Retains `network_matmul_rate_hps`, `security_equiv_hashrate_hps`, `matmul_security_weight`, `btx_security_percent`, `btx_security_percent_12m`, and `btx_security_percent_forward` as the security-equivalence inputs and outputs.
- Continues to source the BTX one-week MatMul-rate window from `getnetworkhashps(6720)`.
- Uses BTX's 90-second target block time and protocol issuance schedule for `projected_blocks` and `projected_supply`.
- Keeps current spot/model price unchanged by construction; the change applies to forward per-token pricing and forward chart rows.
- Adds `projected_supply`, `projected_blocks`, and `forward_market_cap_usd` to forward API rows for auditability.
- Updates the public formula string, Markdown docs, C reference source, and downloadable workbook.

## v1.4.0 - 2026-05-23

- Replaced the prior v1.3 security input with linear network MatMul-rate security equivalence.
- Added `security_equiv_hashrate_hps` and `matmul_security_weight`.
- Relaunched the old 12-month estimate as the BTX Forward Market Price with bear/base/bull security-adoption paths.
- Removed the deprecated v1.3 pricing paths from the v1.4 C reference and workbook.