Recap of AMA event

At 19:00 on the evening of January 26, Keric, a contributor to Ares Protocol, was invited to participate in the “Polkadot Ecological World, Open and Parallel” co-organized by Guowei Finance×PolkaBase×TrustBase×AresProtocol×RareLink×Bandot×PolkaFund×Equilibrium Fortune Polkadot” live show.

The following is the full text of the live broadcast:

This live broadcast show is planned by the STARTIME of the Guowei Finance . 7 guests from the Polkadot ecological world have shared and interpreted the wonderful world of Polkadot.

Currently, Polkadot DOT has a market value of 111.8 billion and ranks fourth in global digital assets.

With the great success of Polkadot in the secondary market, the Polkadot ecosystem has gradually prospered, and more and more entrepreneurs choose to cultivate and start businesses on the Polkadot network. As we know, Polkadot is a Blockchain collection composed of multiple Blockchains and heterogeneous. It integrates Blockchain technologies of a variety of different public chains. Its function is to connect the current independent Blockchains, which can be carried out between different Blockchains through Polkadot. Communication and data transfer.

Therefore, in terms of technological innovation, Polkadot has high-quality competitiveness and influence. In the future, it is believed that the Polkadot network is bound to bring a new round of high-quality projects and wealth effects.

In this context, the community began to embrace Polkadot, more and more investors began to pay attention to DOT, and began to participate in the investment of the Polkadot ecological project.

Guowei Finance has invited many project parties in the Polkadot ecology .

Now, Keric, the developer of Ares Protocol, who has been invited gave keynote speech and introduce Ares Protocol to everyone.

His speech as below:

Hi everyone, I’m Keric, a developer contributor from Ares Protocol, and I’m glad to see you all at the event.

I entered the blockchain industry in 17 years. I started public chain development in the early 18th. The project went from scratch to online. After that, I did some research and development on alliance chains and cross-chains. I came into contact with Substrate at the rust conference in early of 2019. , Has been following up Polkadot’s research and learning.

Ares protocol is the first decentralised cross-chain oracle service protocol in the Polkadot ecosystem and the first new-generation oracle service protocol that implements verification on the data chain. It is the first for data users to suffer business losses due to the use of oracle data. Open up compensation channels. As an infrastructure builder connecting the real world and the blockchain network, facing the grand vision of the WEB3.0 era, it provides safe and reliable data services for multiple-chain interconnection and the development of the digital economy. We welcome more teams using oracles to cooperate with us.

Q1: At present, Polkadot’s momentum is getting bigger and bigger. As a project party, what is the reason for choosing to build applications on Polkadot’s network? What role does your project play in the Polkadot ecology?

At first we were going to deploy our oracle protocol on Ethereum. Due to the problems of Ethereum gas fees and transaction delays, we began to try to find other platforms to deploy. Substrate can easily build a zone because it can send a chain with one click. Blockchain comes, which makes people start to re-examine Polkadot’s blockchain architecture, and the substrate can be customised on the blockchain, which can construct a low-gas-cost blockchain, and the nodes can be easily obtained by combining Babe and off-chain workers. To the price of the oracle and keep the price of the oracle on the chain in real time.

At present, there are a lot of DeFi and stable-coins in the Polkadot ecology. Synthetic assets and insurance have begun to develop slowly. These projects will require oracles to provide prices. From here, we can see that the oracles are very important infrastructure and will be Polkadot ecology plays a very important role.

Q2: As users and investors, the most concerned is how to participate in today’s projects and how to invest in them. So, can you please tell us what kind of progress has been made in your project? What is a plan for entering the secondary market in the future?

At present, Ares Protocol has completed Polkadot Grant’s roadmap 1 and has been officially merged into the main code branch. We are actively implementing some plans in the roadmap 2. Some of our investment institutions are exchange-backed funds. At the end of February and early March, we will be listed on some mainstream domestic exchanges. Friends who follow the Polkadot oracle track can focus on them.

Q3: Actually, for Polkadot and the Polkadot ecology, many investors still need to conduct large-scale education and popularisation. Of course, the current Polkadot Polkadot is successful. For investors who are concerned about the Polkadot Polkadot ecology, project investment will be the most concerned in the future. So, for investors who invest in the Polkadot Polkadot ecological project, how to select and invest in the Polkadot Polkadot ecological project, do you have any suggestions?

I think we can learn from Ethereum. Projects that can become popular on Ethereum can also be used on Polkadot. We can focus on the DeFi track. Last year Compound and Uniswap gave Ethereum a wave of DeFi bull market. Here chainlink has also ushered in a skyrocket. It can be seen that as long as Polkadot’s DeFi is on fire, Ares, as a Polkadot oracle, will definitely have a perfect momentum. In addition to DeFi, you can also focus on contract parachains, Btc, and Eth transfer bridges. These are all good projects.

Q4: In the past, the DEX explosion of the Ethereum network triggered a global DeFi trend, which means that Ethereum has set off a wave and phenomenon-level effect in the world of digital assets. So, I would like to ask, will Polkadot cause a new wave in the future, that is to say, what sector to invest in Polkadot?

Polkadot is about to come to the card slot auction, and many project parties are beginning to prepare for this. Ares also prepared some ecological tokens to participate in the card slot auction. With the increase of Polkadot’s pledge, the Polkadot ecology will surely usher in a new outbreak. Just now I also mentioned that ChainLink has reached a new height during the DeFi trend. As a predictor project of the Polkadot circuit, As more and more projects adopt our agreement, it must be reflected in the token in the future.

Q5: Everyone pays attention to Polkadot. What are your expectations for Polkadot in 2021?

The launch of XCMP and the card plug auction are the flashpoints of the Polkadot ecological project. More and more projects are starting to bid for slots. You can focus on the projects participating in the Rococo testnet. These are all based on technology. , A team with a good background.