Weekly Update｜Ares Protocol adds price prediction and alert function development

6 min readNov 16, 2022

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

Ares Protocol has opened its mainnet on block height 990766. The mainnet has been running smoothly for more than a month now. The team has been publishing important data on the mainnet every half month, and the chain is now active, with the total stake volume breaking through the previous high again.

At the same time, the official community and Ukrainian community have held “voice chat” events to share the latest trends of the crypto industry and projects in real time with the community users. In the near future, we will give some rewards to active users who participate in “voice chat.” For more information, please refer to the official Ares Protocol newsletter: http://t.me/AresProtocolLab

Here, we will keep you updated with everything about Ares!

This week’s development process

Ares Chain

1. Resolved the issue with the quote generated by upgrading to `v0.9.28` mars test parallel chain, which required turning on `offchain_worker.enabled` to add an implementation of the `AresOracleFilter` interface to mars test parallel chain. Add AresOracle-related configuration to `pallet_authorship::EventHandler.`

2. Update the `ocw-suit::ares-oracle` module to adjust some of the log output to fix the problem of unreadable logs after upgrading to BoundVec.

3. New `ActiveEstimates` event in the `ocw-suit::ares-oracle` module, which is used by the price prediction module to output the prediction status to the outside. This event is a system event. The sweep fast program `ares-scan` is synchronized to update the support for this event.

4. `ocw-suit` released version 2.0.1 branch, which corresponds to polkadot v0.9.28.

5. Added a new RPC inspection tool for polka chains to check if the verification node is working properly; the tool scans regularly and emails the maintenance staff if it finds a problem node.

6. Refactor the `ocw-suit::oracle-finance` module to support the `Instance` configuration method to complete the reuse of the finance module and the price alert function after the service.

7. On the odyssey network, urgently upgrade to version 167 to solve the election change problem generated by `staking::bagslist` after the version 166 upgrade.

8. Design a `pallet-reminder` module function, which is used to implement the price reminder function. The user can submit a `reminder` to the chain to get a certain price attention reminder.

9. Adjust the time output of the browser API `/odyssey/api/v1/oracle/symbols` to a timestamp mode to accommodate different time zones.

10. Added a new browser API `/estimate/list/range/active` interface, which is used to get a list of price forecasts in the `active` state for supporting front-end data.

AresScan Browser

1. Block browser on-chain asset list data parsing modification

2. Update unclaimed reward time zone reward details

3. Account details page transferable balance calculation method modified

4. Transaction details page fees are modified to read from the event list returned by the interface

Price prediction

1. Modified the `my participation price forecast` data interface to the updated one

2. Ongoing price forecasts are read from the chain to the interface

3. Added sub-page information to the `My Participating Price Forecast` page

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 basic features 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 more than one month, with active matters on the chain and good performance of all data. Below is the data on the chain as of 10.30

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 the mainnet from 10.15–10.30, with a new peak in stake volume.

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.

Here are the verifier stakes for the top 10

Social Media Numbers

Currently, the project has 35K subscribers on Twitter, 1.1K subscribers on WeChat, and 2.6K followers on Medium. The total number of people in the community is 70.3K.

The official Ares Protocol community holds a “voice chat” event to share the latest trends of the crypto industry and the project with the community users in real time.

The course content includes the following :

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

In the near future, we will reward active users who participate in “voice chat” with certain activities based on the quality of their questions and performance. Currently, we are collecting a wide range of “questions about the mainnet” from the community. If you have any questions, you can submit them to the community administrator, and we will answer them in detail in our weekly “voice chat.”

Trojan & iliad stake mining

Ares Trojan staking is ongoing, it is based on the Ethereum network. 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 stakes increased to 217,529 ARES; and notably, 360-day fixed-term products stakes increased to 5,968.748 ARES, Demand stakes gained 27,119,770 ARES, and APY remained stable at 27%.

Ares iliad demand stake volume for the week was 3,284,547 ARES with an APY of 33%. 60-day fixed-term products received a total of 2,241,627 ARES; 120-day fixed-term products received 1,350,198 ARES; 180-day fixed-term products received 18,853,642 ARES; and 270-day fixed-term products grew to 1,720, 997 ARES of staked volume for the 270-day term product; and 14,893,581 ARES of staked volume for the 360-day term product.

That’s it for this week’s Weekly Update! See you next time!

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.

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