Oh and from the patch notes...they are 2 distinctly different things:
Dynamic Treasures Event
New dynamically created Treasures events can now be used for Global and EM events. The Dynamic Treasures events will allow both the UO Dev Team & UO Event Moderator team to create customized Treasures events (similar to Treasures of Tokuno) without the back-end work these events traditionally require.
Dynamic Treasures events function just like our previous treasures events – defeat creatures to collect minor artifacts that can be turned in for rewards!
Dynamic Treasures creatures have a chance to spawn as Paragon.
Dynamic Treasures creatures will be identified with a unique item property.
Dynamic Treasures minor artifact drops are subject to diminishing returns when fighting the same creature.
Dynamic Champion Spawns
New dynamically created Champ Spawns can now be used for Global and EM events. The Dynamic Champion spawns will allow both the UO Dev Team & UO Event Moderator team to create customized champ spawns without the back-end work these encounters traditionally require.
Dynamic Champ spawns function just like a normal champ spawn – defeat increasingly more difficult creatures until the Champion boss spawns to receive a reward!
Challenge the Champion in 26 New Champ Locations!
Customizable participation and top contributor rewards for each Champion Encounter.
Champion boss spawn scales based on player density, up to two Champions spawning per encounter.
Dynamic Champion Spawns do not drop any scrolls.
So ToD is a dyanamic Treasure Event...the Black Gate Champ is a dynamic champ spawn.