Weekly Update｜Ares-Chain Refactors Price Forecast Module

6 min readAug 25, 2022

Dear Aresians, we are here! Welcome to “Ares Protocol Weekly Update.”

Ares Protocol has recently launched Odyssey, a 1:1 prep network with the same functionality as the mainnet and has also launched a cross-chain bridge feature that allows users to map ERC20 / BEP20 ARES tokens to the Odyssey network. The technical team has now released the latest “Mainnet Prep Network Node Manual” and opened the nomination feature to all ARES holders.

Here we will keep you updated on everything about Ares!

Development Progress This Week

Ares Chain

The refactoring of the price forecasting module (pallet-price estimates), mainly including.

* Refinement of automatic testing

* New precision handling parameters when submitting forecasts, to prevent the problem of mismatch between the submitted precision and the chain precision

* Add logic to determine the validity of prices, and add T::MaxEndDelay::get() constants to prevent predictions from using expired prices.

* Support abnormal termination state, when the chain price update lags, resulting in the end of the price forecast using the chain price may be relatively old, will enter this state after the administrator calls `force_complete` to perform the end operation

* Modify the price prediction signature method to anonymous transaction signature, and cancel the previous whitelist mechanism

* In order to avoid infinite expansion of the price prediction list, the completed price predictions will be removed periodically, and CompletedEstimates and RemovedEstimates will be added.

ares-oracle AggregatedPrice event, with new precision parameter

ares-chain New pallet-price-estimates and manual-bridge configuration parameters for Genesis, convenient for maintenance management

Ares-Scan

Fix the problem of incorrect parsing of account/identities data

Modify dashboard and detail page time zone reward data display method

Add page tips for chain asset data, verifier audit, time zone rewards, unclaimed rewards and chain request data detail pages

Modify the uncollected rewards page to collect the rewards function, and fix odyssey not to display the collection function

Reconstruct the verifier audit data module, add history record tracking, verifier audit can query all records in history

Fix the time zone reward calculation error when re-sweeping the block, add new id self-increasing column in the data table to avoid the indexing error caused by era as id, reconstruct the block sweeping logic order to solve the problem of incomplete reward data when re-sweeping the block

Price prediction

Test the new price prediction state conversion is OK

Modify the price prediction that the admin processing exceptions are not finished

Other updates

Cross-chain bridge adds cross-chain record scanning from ETH, BSC to Odyssey

Cross-chain bridge adds cross-chain record scanning from ETH and BSC to each other

This Week in Marketing & Community

Project Launches Odyssey Mainnet Prep Network

Odyssey, a prep network with 1:1 functionality identical to the mainnet, was officially launched on July 21. It integrates the core functions of the mainnet: token pledging, decentralized prophecy machine quoting function, data source retrieval function, etc., aiming to create a completely realistic mainnet environment.

The Odyssey mainnet prep network is currently running smoothly. As the most widespread ARES holder, how can you participate in the Odyssey mainnet prep network?

ARES holders are eligible to become nominators for the Odyssey Master Prep Network. A nominator is a user who nominates for any one or more nodes in the Ares Odyssey Prep Network. Nominators use ARES as a nomination asset to make nominations for nodes and receive the corresponding rewards, but also bear the corresponding penalties for nominating nodes that are penalized.

Currently, the Odyssey network still has an annualized return of 58.5% for nominator rewards.

Nominator reward ≈ Odyssey annualized yield * Nominator stake amount * (1-comission percentage)

To become a nominator, you can refer to the “Odyssey Mainnet Prep Network Nominator Tutorial” for the relevant actions.

MEXC platform trading activity rewards have been issued

From 8.9 to 8.16, the campaign to buy $ARES and win double $USDT on MEXC platform has been terminated on 8.15 because MEXC platform has stopped the spot trading pairs of ARES/USDT. Currently, all rewards have been paid out to participants.

It should be reminded here that ARES withdrawal service at MEXC will end on 9.12, so please make sure you withdraw your assets before the deadline to prevent unnecessary losses.

Social media numbers

Currently, the project has 36.2K subscribers on Twitter, 1.1K subscribers on WeChat, and 2.5K followers on Medium. The total number of people in the community is 86.3K.

Trojan &iliad Staking Mining

Ares Trojan staking mining is ongoing and based on the Ethereum network staking mining. This week, 60-day fixed-term products received a total of 10,388,943 ARES; 120-day fixed-term products received 7,178,257 ARES; 180-day fixed-term products received 11,650,723 ARES; 270-day fixed-term products staked a stable 86,833 ARES; notably, 360-day fixed-term products staked an increase of 4,140, Notably, the stake volume of 360-day term products increased to 4,140,953 ARES, which is three times of the previous volume. Demand stakes also increased to 27,620,243 ARES with a stable APY of 26%.

Ares iliad demand stakes for the week were 3,129,028 ARES with an APY of 35%. 60-day fixed term products received a total of 1,751,263 ARES; 120-day fixed term products received 1,304,056 ARES; 180-day fixed term products received 26,538,930 ARES; 270-day fixed term products were stable at 638,320 The 360-day term product saw the most growth with 4,439,716 ARES staked.

That’s it for this 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