Weekly Update｜Ares Protocol publishes roadmap to 2023

6 min readJan 5, 2023

Happy New Year, 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 more than three 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 broken through the previous high, maintaining above 29,000,000 ARES.

At the same time, Ares Protocol announced its project roadmap for 2023. The official community will soon host a “Textchat” sharing event, where technical analysts and senior traders will be invited to share the latest trends in the crypto industry with the community in real-time. We are looking forward to your participation.

This week’s development process

Ares Chain

1. data migration of all the storage structures of the ares-finance, ares-oracle module to ensure that the original data from the testnet can be migrated to the new structure, replacing the OrderIdEnum::String(PurchaseId) type with the PurchaseId type used by ares-oracle. This upgrade has been put to test on Gladios.
````
** Storage for Ares-Oracle module migration
PurchasedRequestPool, PurchasedPricePool
PurchasedPricePool.
PurchasedAvgPrice.
PurchasedAvgTrace, PurchasedAvgTrace, PurchasedAvgTrace
PurchasedOrderPool

* Storage for Oracle-finance module migration
OrderLockedDeposit.
PaymentTrace.
AskEraPayment.
AskEraPoint.
RewardEra
````
2. deploy reminder-service online test instance, which is used to receive data requested from the chain and bond the user Email to complete the notification task when the price is met, it is a light server.
3. upgrade the ares-scan project, mainly including the logic of data_reminder_lifecycle, data_reminder_msg, data_reminder, etc. to support the data related to the ares-reminder module.
4. upgrade Runtime 171 to gladios This version includes all the functionality associated with the reminder pallet module.

Price Prediction

Modify the problem of mis-styled price prediction on other pages due to the addition of an Alert page
add Alert to select account login page and bind email to account, update bound email function
add an Alert page, add the real-time price of supported symbols and tokens and create Alert function
modify the structure of the Alert list page, add the data acquisition interface and the function of processing data paging
add the function of modifying and deleting the Alerts already added
add the function of viewing the history of Alert records

Official website

1. add product introduction, Oracle introduction, Warehouse introduction, AresScan introduction, and partner list in Russian and Ukrainian
2. add a new roadmap and fixed the problem of the roadmap navigation keys not working
3. add the latest updated Medium article data and fix the data error when switching between article lists

This week’s market & community

Ares Protocol’s Roadmap for 2023

At the start of 2023, Ares Protocol released its latest annual project roadmap. It contains the key directions for the technical development and market development of the project after the launch of the mainnet.

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 over three months, with operational matters on the chain and good performance in all data. The following are the data on the chain as of 12.30.

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 12.15–12.30. The total stake volume has broken through the previous high, maintaining above 29,000,000 ARES.

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

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

The following are the top 10 validators' stakes.

Social Media Numbers

The project currently has 34.6K subscribers on Twitter, 1.1K subscribers on WeChat, and 2.6K followers on Medium. The total number of community members is currently 66.3K.

The official Ares Protocol community will soon host a “Textchat” event where we invite technical analysts and senior traders to share the latest trends in the crypto industry with the community in real-time. The sharing content mainly contains trading, crypto market, bear market layout, hot projects, etc.

Follow the official Ares Protocol telegram at http://t.me/AresProtocolLab to get closer to us!

Trojan & iliad Staking

Ares Trojan staking, based on Ethereum, is ongoing. This week, 60-day fixed-term products received a total of 10,388,943 ARES; 120-day fixed-term products received 5,763,656 ARES; 180-day fixed-term products received 8,440,894 ARES; stakes on 270-day fixed-term products increased to 430,148 ARES; notably, stakes on 360-day fixed-term products increased to 6,679,364 ARES. Current staking has no longer generated income since 12.25.

Ares iliad current staking has been adjusted to 0% APY as of 12.25 and no longer generates revenue. This week, 60-day fixed-term products received 3,894,527 ARES; 120-day fixed-term products received 1,142,487 ARES; 180-day fixed-term products received 11,627,904 ARES; 270-day fixed-term products grew to 2,759,011 ARES in staked volume; and 360-day fixed-term products grew to 21,997,287 ARES in staked volume.

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

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