Weekly Report | Ares Protocol Reveals Mainnet Operation Data

Ares Protocol
5 min readOct 29, 2022

Dear Aresians, here we are! Welcome to Ares Protocol Weekly Update on Polkadot Ecosystem.

Ares Protocol has opened its mainnet at block height 990766 (October 3, 2022, 22:00 Singapore time). The mainnet has been running smoothly for more than half a month now, and the team will publish important data on the mainnet every half month.

At the same time, the official and Ukrainian communities have organized a “voice chat” event to share the latest trends of the crypto industry and projects with the community users in real time. For more information, please see the official Ares Protocol telegram: http://t.me/AresProtocolLab

Here we will keep you updated on everything about Ares!

This week’s development process

Ares Chain

  1. Fixing Gladios network downtime issue, service is now restored by adjusting server time.
  2. Compiled and released Benchmark-enabled version 163 of wasm to the gladios testnet.
  3. Test the process of upgrading the odyssey network to 0.9.28 and the correctness of wasm execution.
  4. Upgrade parallel chain generation mars project to polkadot-v0.9.28 and synchronize the latest ocw-suit configuration.
  5. Organize the tools for generating semi-monthly report data.

AresScan

  1. Fix the problem that the explorer cannot successfully input the range type of the price prediction module, which is caused by the incomplete serialization of the range type when writing to the database.
  2. Solve the problem that database connection error occurs uninterruptedly when the chain data plan task is executed, and optimize the logic of database connection closing after data writing.
  3. Add and improve the price prediction API, including the API of my price prediction list and all completed lists.

Price Prediction

  1. Price predictiont completed status page from the chain to get data from the interface.
  2. Modify all data parsing errors caused by different data formats between the interface and the chain.
  3. The page of The Price Prediction I Participated in has been modified to complete the data from the interface to get data.
  4. Modify the processing logic of the page of The Price Prediction I Participated in and deal with the problem of duplicate data.
  5. Test if all the data returned from the interface is correct after adding the prediction.

This week’s market & community

Mainnet Onchain Data

The Ares technical team completed the development of the mainnet for the Ares Protocol. It implements the basic features of Ares Oracle: “Quote Integration,” “Verifier Reward Allocation,” and “New Verifier Compliance Review”, three major functions have been developed based on Substrate.

At present, the mainet has been running smoothly for more than half a month, with active matters on the chain and good performance of all data. Below is the data on the chain as of 10.14

From the economic point of view, it contains the staking volume, staking rate, inflation rate, and treasury burn of the mainnet token ARES.

From the activity point of view, it contains the number of accounts, validators, candidates, and nominators.

In terms of product usage contains the total number of transactions on the mainnet and the number of data processed on the chain.

In terms of user revenue, it contains the total rewards issued, the latest era rewards, and the APY of rewards.

The following are the verifier stakes of the top 10

After that, we will release the latest mainnet data situation on the 15th and 30th of each month, so that you can know more about the latest development of the mainnet.

Social media numbers

Currently, the program has 35.7K subscribers on Twitter, 1.1K subscribers on WeChat, and 2.6K followers on Medium. The total number of people in the community is 73.2K.

The official Ares Protocol community hosts a “voice chat” event to share the latest trends in the crypto industry and projects in real time with the community users. Follow the telegram at http://t.me/AresProtocolLab to get closer to us!

The course content will include the following :

  1. Cryptocurrency market trends and analysis
  2. Weekly updates on ARES protocol (Odyssey mainnet)
  3. Staying profitable in a bear market

Trojan & Iliad stake mining

Ares Trojan staking is ongoing, it is based on Ethereum. This week, 60-day fixed-term products received 10,388,943 ARES; 120-day fixed-term products received 5,763,656 ARES; 180-day fixed-term products received 8,810,165 ARES; 270-day fixed-term products staked a stable 86,833 ARES; notably, 360-day fixed-term products staked an increased 5,567.944 ARES, Demand stakes gained 27,185,316 ARES, and the APY remained stable at 27%.

Ares iliad demand stakes for the week were 3,212,495 ARES at an APY of 34%. 60-day fixed-term products received 2,146,631 ARES; 120-day fixed-term products received 1,273,650 ARES; 180-day fixed-term products received 18,861,842 ARES, and 270-day fixed-term products grew to 1,554, The 360-day term product saw the most growth with 14,783,349 ARES staked.

That’s it for this week’s Weekly Update, we’ll see you next week!

Ares Protocol, the decentralized cross-chain Oracle service in Polkadot ecosystem

Ares Protocol is a decentralized cross-chain oracle platform that introduces a truly new generation of cross-chain oracle service protocols with on-chain data verification and is the first to open a compensation channel for data users in case they suffer business losses due to the use of data provided by the oracle.

Ares Protocol is an oracle solution with security using VRF, developed on the Substrate framework, and it supports hybrid Babe and off-chain workers. It integrates Polkadot’s latest on-chain governance, brings the Optimistic Rollup challenge model into the oracle field, supports the Ink contract ecosystem, and brings better oracle services to DeFi Developers.

🌐 Ares Protocol Social Media

Telegram Group: https://t.me/aresprotocollab
Telegram Channel:
https://t.me/AresProtocolAnnouncements
Twitter:
https://twitter.com/AresProtocolLab
Facebook:
https://www.facebook.com/aresprotocollab
Instagram:
https://www.instagram.com/aresprotocollab/
Medium:
https://aresprotocollab.medium.com
Discord:
https://discord.gg/cqduK4ZNaY
Reddit:
https://www.reddit.com/r/AresProtocolLabs/
Email:
info@aresprotocol.io
Youtube:
https://www.youtube.com/channel/UCgwY4NwkoP8Hx1Fqmp_rJUw

Telegram Groups

Spanish: https://t.me/aresprotocol_spanish
Ukrainian: https://t.me/AresProtocol_UkrainianCommunity
Chinese: https://t.me/AresprotocolChina
Russian: https://t.me/AresProtocol_RussianCommunity
Japanese: https://t.me/AresProtocol_JapaneseCommunity
Korean: https://t.me/AresProtocol_KoreanGroup
Hindu: https://t.me/AresProtocol_HindiCommunity
French: https://t.me/AresProtocolFrenchCommunity
Arabic: https://t.me/AresProtocolArabic_Community
Turkish: https://t.me/AresProtocol_TurkishCommunity
Portugese: https://t.me/AresProtocol_PortugueseCommunity

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Ares Protocol

The first chain-verified decentralised cross-chain oracle service protocol, please visit this link www.aresprotocol.io.