Weekly Update｜Ares Protocol update Odyssey to version 173

5 min readFeb 2, 2023

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 almost four 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 exceed 33,000,000 ARES.

At the same time, Ares Protocol hosted a “Textchat” sharing event with crypto eagles, where technical analysts and senior traders were invited to share the latest trends in the crypto industry with the community in real time. After the sharing, the Ares Protocol official community awarded prizes to those who were active during the interactive sessions.

This week’s development process

Ares Chain

1. Improve Reminder support on the AresScan, `data_reminder_msg`, `data_reminder` data table added datetime field, marking the creation and update time of the reminder.

2. Add `/reminder/msg/{acc}` interface to the AresScan to retrieve the reminder history corresponding to a particular person.

3. Update Odyssey to version 173

4. Implement `ares-reminder` to add `EquivocationHandler`, which is used to improve the handling of notification tasks that cannot be handled when the verifier node is unstable.

Price Prediction

1. Price monitoring to increase the binding mailbox and update mailbox interface docking and debugging.

2. Modify the reminder interval to calculate the block interval according to minutes, hours, and days, when modifying data, data backfill according to the block interval resolved into the corresponding minutes, and hours.

3. Modify price monitoring email binding, create price forecasts and modify price forecast commission calculation.

4. Modify the ongoing price monitoring page and historical data monitoring data paging function.

5. Test whether the mailbox notification function, the price notification function after modifying the mailbox, the price deduction and deposit function after creating price monitoring and the deposit refund function after canceling monitoring are normal after creating price monitoring and reaching the specified price.

Official Website

1. Update the official website roadmap component to a new component to solve the height adaption and left/right switching response problems.

2. Fix the problem of pagination data switching order in the medium article list.

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 almost four months, with operational matters on the chain and good performance in all data. The following are the data on the chain as of 1.30.

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 1.15–1.30. The total stake volume has steadily advanced to exceed 33,000,000 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 33.8K subscribers on Twitter, 1.1K subscribers on WeChat, and 2.6K followers on Medium. The total number of community members is currently 60.6K.

Ares Protocol hosted a “Textchat” sharing event with crypto eagles, where technical analysts and senior traders were invited to share the latest trends in the crypto industry with the community in real time. After the sharing, the Ares Protocol official community awarded prizes to those who were active during the interactive sessions.

The official community has plans to continue the “Textchat” series of events, with shares on trading, crypto markets, bear market layouts, hot projects, and more. 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 10,508,943 ARES; 120-day fixed-term products received 5,763,656 ARES; 180-day fixed-term products received 8,506,245 ARES; stakes on 270-day fixed-term products increased to 430,148 ARES; notably, stakes on 360-day fixed-term products increased to 6,786,734 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 4,011,153 ARES; 120-day fixed-term products received 1,052,126 ARES; 180-day fixed-term products received 10,187,566 ARES; 270-day fixed-term products grew to 2,930,808 ARES in staked volume; and 360-day fixed-term products grew to 24,096,378 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.

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