Weekly Update | Ares Protocol Will Join the Polkadot Parachain Slot Auction

Ares Protocol
5 min readNov 16, 2021

Dear Aresians, Welcome to read our weekly update of Ares Protocol, a decentralized cross-chain oracle platform on the Polkadot ecosystem.

This week, the Airdrop Activity of Ares Protocol and Token Pocket has been officially completed; 1,000 lucky users have won 200 ARES rewards. In the meantime, Iliad Staking Mining is in hot progress. We’ve optimized the operation page, added an operating tutorial. We believe you will be more confident to stake. Next, we will add a bridge function, which will help you transfer ARES on the ETH network to the BSC network more conveniently. Please stay tuned!

Here, we share every bit of Ares!

Development Progress

Ares-chain

  • ocw-finance module upgraded storage structure, with newly added RewardPeriod storage to query the reward block a validator can receive the corresponding points.
  • Testnet deployed economy module ocw node, and an inquiry request can be initiated through off-chain payment. Once the quotation is successful, the paid fees are temporarily stored on the chain, and quotation validators can receive the reward after the 1 Ask time zone (currently 20 blocks on the testnet).
  • Developed staking-extends module, which works together with staking module to complete the realization of the verifier pre-audit mechanism. After applying to become a validator, the node quotation program will be automatically initiated for proofreading. If the proofreading is not passed, you will not be able to become a validator.
  • Price-estimates optimized storage structure, data stored is more intuitive. participate_estimates method supports to verify the BSC addresses; Wrote price-estimates usage documents.
  • Ares-chain Docker image was written and pushed to the docker hub. Wrote Docker image usage documents.
  • Solved the problem that the official website crowd loan cannot be submitted.

Other updates

  • Updated Trojan staking mining interface, add ETH->BSC cross-chain bridge
  • Iliad page upgraded, adding Pancake and BSC browser information
  • On BSC token information online Trustwallet and updated Pancake

Market & Communities

Ares & TP Wallet joint Airdrop Activity

Ares Protocol held a joint Airdrop with TP Wallet from 3rd of Nov. to 7th of Nov. The award for this Airdrop activity was 200,000 ARES.

At present, the event has officially been completed, and a list of 1000 winners has been announced. For detailed winner list, please click here. After the final verification, we will arrange the distribution of rewards for this activity in an orderly manner.

Increasing Social Media and Communities

At present, the Twitter followers have reached 31K, WeChat blog followers have got 1.1 K members, we have 2.3K followers on Medium. The community members in total are 48.6K.

The testnet activity will be launched soon. We will bring fresh, exciting and rewarding price quiz games to the community, so stay tuned!

Slot auction continues

Mars

Ares Protocol’s canary network Mars has participated in the third round of KSM slot auction. The sequence number is 2008. You may click here to know more about the slot auction strategies and crowd loan operation. Meanwhile, Mars’ official website has opened the “Join The Crowdloan” channel, ensuring faster crowd-loan for projects.

Ares

The project is currently deploying the Polkadot slot auction, and we will participate in Polkadot’s parachain auction. We will release relevant rules and procedures in the follow-up and hope that everyone will contribute DOT to our slot auction!

Trojan & Iliad Staking Mining

Ares Trojan staking mining continues to be implemented, it is based on the Ethereum network. This week, 60-day regular products received 16,857,428 ARES, the same as last week; 120-day regular products received 7,315,256 ARES, consistent with the previous week; 180-day regular products received 12,221,926 ARES, which increased the stake amount of 984,916 ARES compared to the last week. The current stake amount has also stabilized at 30,958,127 ARES, and APY has risen slightly.

Last week we grandly launched Ares Iliad staking mining. It is based on the BSC network, with lower handling fees and a stronger sense of experience. The current APY is 521%, and the income is still considerable. If you are interested in our Iliad staking mining, you can click here to learn more.

This week, everyone actively participated in Iliad staking mining. The current stake amount is 145,908 ARES, and APY reaches 521%. 60-day regular products get 1,203,610 ARES; 120-day regular products get 500,000 ARES; 180-day regular products get 3,984,047 ARES.

This week’s Weekly Update is here; see you next week!

Ares Protocol is a decentralized cross-chain Oracle that truly implements a new generation of cross-chain Oracle service protocol for data on-chain verification, and is the first to open a compensation channel for data users who suffer business losses from using Oracle data.

Ares Protocol is a stochastic secure Oracle solution developed based on the Substrate framework, supporting hybrid Babe and off-chain workhorses, incorporating Polkadot’s latest on-chain governance, bringing the Optimistic Rollup challenge model into the Oracle space, supporting the Ink contract ecosystem, and bringing better quality Oracle services to Defi developers.

🌐 Ares Protocol Social MediaTelegram Group:

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Ares Protocol

The first chain-verified decentralised cross-chain oracle service protocol, please visit this link www.aresprotocol.io.