Weekly Update｜Introduction of mainnet features added on the Ares Protocol website

6 min readDec 14, 2022

Dear Aresians, welcome back 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 two 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 remains stable above 22,000,000 ARES.

Meanwhile, the official community is holding a Qatar World Cup prediction campaign. Submit your predictions for the top three winning teams for a chance to win up to 40,000 ARES.

This week’s development process

Ares Chain

Expanded ares-finance pallet with a new feature of margin addition.

* Added IForPrice interface lock_deposit(pid) unlock_deposit(pid) for deposit locking and unlocking respectively.

* Added ReminderIden type to the finance module, allowing the module to support different types of ID parameters. This type replaces the previous PurchaseId type.

* Added Instance type to this module to allow the module to support multiple instances.

* Add a new T::OrderId configuration.

2. Develop price alerting based on Ares chain, create ares-reminder project, a pallet placed under ocw-suit.

3. Extract SymbolInfo interface to ares-oracle-provider-support, refactor ares-oracle, and price-estimates pallet code and corresponding tests.

4. ares-oracle module added IOracleAvgPriceEvents interface to expose price update events to the public.

5. IStashAndAuthority interface is added to ares-oracle module to expose the authenticator-Authority binding relationship.

6. Created a reminder-service project to handle in-chain callback requests.

Price Prediction

Price prediction was modified to add new navigation after the route switch to adapt to price monitoring
Add Alert Join to the home page of the price prediction, modify the layout of the outermost layer of all pages
Modify the bottom navigation cell phone adaptation
Price prediction added Alert list page
Mobile adaptation of the modified content

Official website

New product introduction, Oracle introduction, Warehouse introduction, AresScan introduction, and partner list
Team members and strategic investors modified to two new pages
Adapted the new content to cell phone pages
Add Chinese language adaptation for new content.

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 over two months, with operational matters on the chain and good performance in all data. The following are the data on the chain as of 11.30.

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 11.15–11.30. The total stake volume has fallen back somewhat and remains stable above 22,000,000 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 verifier stakes.

Introduction of social latest activities

The official Ares Protocol community is hosting a “Qatar 2022 Predictions” event from 11.22–12.5. Submit your predictions for the top three winning teams (only the winner, runner-up, and one of the three), retweet as requested, and become a nominator on the Odyssey mainnet for a chance to win up to 40,000 ARES.

About the Rewards

Total Reward 90,000 ARES

First Place 40,000 ARES

Second Place 30,000 ARES

Third place 20,000 ARES

The prediction campaign is now closed. We are looking forward to the exciting play of each team; we will announce the relevant winner on 12.19 (i.e., the day after the World Cup), good luck!

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 regularly hosts “voice chat” events to share the latest trends in the crypto industry and projects with community users in real time.

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 regular products gained 10,388,943 ARES; 120-day regular products gained 5,763,656 ARES; 180-day fixed-term products gained 8,330,894 ARES; 270-day fixed-term products stakes increased to 420,148 ARES; notably, 360-day fixed-term products stakes increased to 6,424,454 ARES. Current staking gained 27,139,282 ARES, and APY was stable at 27%.

This week’s Ares iliad current stake volume was 3,435,797 ARES with an APY of 32%. 60-day term products gained a total of 2,247,262 ARES; 120-day term products gained 1,036,113 ARES; 180-day term products gained 18,927,642 ARES; 270-day term products grew to 1,726,945 ARES in staked volume; and 360-day term products grew to 14,901,049 ARES in staked volume.

That’s all we got for you guys in 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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