Weekly Update｜AI Oracle model developed to provide price prediction up and down
Dear Aresians, welcome to the Ares Protocol Weekly Update.
Ares Protocol has opened its mainnet on block height 990766. The mainnet has been running smoothly for nine months now, and the team is announcing essential data on the mainnet for half a month. Currently, matters on the chain are active, and the total stake volume has steadily advanced to 35,600,000 ARES.
Recently there have been instances of some nodes dropping out, which can cost the nominator an equal percentage of the staking. Here we need to remind you, as a nominator, you need to check the nomination status in time. When there is a nomination inactive or “slash” related penalty, you need to change the validator node in a timely manner, and it is best to choose multiple smooth-running validators for nomination, so as not to cause greater losses.
This week’s development process
1. Validator chain data feature extraction, which will be subsequently applied to the validator scoring process to improve overall security.
2.AI prediction machine decision-making model development, based on the output of the prediction model, the decision-maker can obtain information such as price prediction rise and fall probability.
3. Ares-Scan feature data testing interface development, including data loading, pre-processing, and other modules.
1. Price Prediction background statistics to increase the number of users participating in the prediction and the winning statistics of each account.
2. Fixed that price prediction can only be shared once each time when sharing price prediction to Twitter and tg, and only one reward will be recorded when prompted.
3. Modified the message that you can’t enter the detail page after you have already participated in the price prediction, and it reminds you that you have already participated in the price prediction.
Trojan & iliad
1. Update the information on the Trojan and iliad webpage announcement.
2. Fix the problem that Odyssey cross-chain transfer to the eth-chain account balance is displayed incorrectly.
This week’s market & community
Mainnet Online Data
The Ares technical team completed the development of the mainnet for the Ares Protocol. It implements the essential functions of Ares Oracle: “Quote Integration,” “Verifier Reward Allocation,” and “New Verifier Compliance Review”, three major functions have been developed based on Substrate.
The mainnet has been running smoothly for nine months, with operational matters on the chain and good performance in all data. The following are the data on the chain as of 6.30.
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.
The following is the total stake of mainnet from 6.15–6.30. The total stake volume has steadily advanced to 35,600,000 ARES.
In terms of product, usage contains the total number of transactions on the mainnet and the number of data processed on the chain.
The following are the top 10 validators’ stakes.
Social Media Numbers
The project currently has 30.4K subscribers on Twitter, 1.1K subscribers on WeChat, and 2.6K followers on Medium. The total number of community members is currently 46.2K.
Trojan & iliad Staking
Ares Trojan staking, based on Ethereum, is ongoing. This week, 60-day fixed-term products received a total of 10,706,370 ARES; 120-day fixed-term products received 5,863,805 ARES; 180-day fixed-term products received 8,497,701 ARES; stakes on 270-day fixed-term products received 459,049 ARES; notably, stakes on 360-day fixed-term products received 6,351,067 ARES.
This week, 60-day fixed-term products received 4,085,376 ARES; 120-day fixed-term products received 771,906 ARES; 180-day fixed-term products received 2,969,850 ARES; 270-day fixed-term products went to 2,423,488 ARES in staked volume; and 360-day fixed-term products have 33,046,786 ARES in staked volume.
That’s it for this week’s Weekly Update, we’ll see you next week!
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