Weekly Update| Ares Protocol had an all-round upgrade of on-chain data structure

Dear Aresians

Welcome to read our weekly update on Ares protocol, an Oracle on Polkadot ecosystem. This week the team still has been conducting the test network application which is under the testing stage and developing the new website. Ares’ liquidity circulation on Gate.io reached 93523.1490 USDT, which almost added up more than two times than last week.

Here we are going to share every bit of Ares.

Development Process

Ares-OCW

• OCW quotation data improved the bidder’s information on the chain record.
• New Pallet configuration mode for calculating the median value is introduced.
• Changed the governance mode to be approved by the technical committee to facilitate the on-chain upgrade request.
• Upgraded on-chain request data structures to support on-chain upgrades to request accuracy.

Governance

• Configured collective to be used correctly in combination with democracy module, Modified the source code of collective module preliminarily according to requirements, and added related punishment interface for oracle system
• The script simulates the normal flow of Treasury and Bounty and the corresponding functional tests.

Mars Staking

• Added parachain-staking for nominator to recommend candidate, who allocates a block to token award.
• Improved pallet_author_slot_filter block validation filter, updated reward allocation.

Quotation process

• Added withdrawing interface that returns a specified number of trade pairs.
• Split the requested trading pairs and gets the latest average price of the trading pairs from memory.

Marketing and Community Operation

Ares, each step for win, awarded quiz

The activity for Chinese community ended in 17th of September, which lasted for 20 days. Congratulations to Li zongkang, Hong jing, deed for gaining the three top of this competition by getting 3000, 2000, 1000 Ares respectively.

There were 165 participants included in this activity, summoned awards for paticipants are 31888 $Ares, as the maximum award was 4500 $Ares. Thanks to Chinese community and participants , now we are calculating the final distribution of awards and conducting the application process of memorial medal poap. We sincerely note you guys to pay close attention.

The telegram groups’ memberships are rising

Currently, there are 5006 followers of project’s twitter account, the wechat blog has reached 1109 followers. The community members made up for 16012 , rised 1586 than last week. The Georgian community was quite active, thanks to the efforts of Rusudan.

Ares teamed up with MXC Foundation

Ares gladly announced the partnership with MXC Foundation. MXC Foundation was built in 2017 year, in Berlin Germany. The core team was committed to IoT development. Currently has already distributed IoT network in 80% of the countries and regions around the world. They are aimed at building smart cities with appliance of IoT and blockchain technologies.

The bilateral parties will cooperate on the fields of on-chain data application, verification and sharing of data to build a polkadot data cross-chain market together. This time of cooperation will help Ares to promote the transmission volume of data per time unit to made the data highway possible for Ares.

Ares stake mining

Ares Trojan stake mining is still proceeding. This week, 60days of regular product has reached 16, 407, 715 $Ares, equal to last week; 120days of regular products has reached 6, 868, 671 $Ares, overwhelmed last week by 150k of volume. 180 days of Regular product has reached 6008, 302 $Ares, equal to last week. The current volume is stable at 36, 182, 331 $Ares.

The total circulation of Ares has been doubled in Gate.io

Gate.io has included Ares into its new version of liquidity mining pool, and launched trade pool for USDT, ETH. Moreover new version of liquidity mining award pool was launched(AMM) . So far, APY is at 352.92%.

Welcome to join in liquidity mining to gain profit from Ares: https://www.gate.tv/cn/liquidity/ares

Till the issuance of the article, total circulation is 93523.1490 USDT, compare with the last week of 35568.9717 USDT, total circulation was added up to two times more. Currently, 100% of trading fees is given to the Liquidity Provider(LP), meantime, time limited GT awarding pool profits are available for you, come to join us and provide liquidity.

This is the end of the article, thanks for reading, see you next week.

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