Weekly Update|Plans to increase the diversity of ares-chain data sources

Ares Protocol
5 min readJun 8, 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 eight 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 35,000,000 ARES.

Meanwhile, from June 1 to June 10, the official community is hosting a price prediction campaign. Participate in price predictions or share them on the platform for a chance to win prizes totaling up to 300 USDT in ARES!

This week’s development process

Ares Chain

1. Updated the bootnodes node list.

2. Develop AI-based predictive machine data analysis model to improve data reliability and security to prevent data tampering and malicious manipulation.

3. Plan to increase the diversity of data sources and expand on-chain data, as well as integrate other data sources, such as APIs, external data providers, and IoT devices, to meet the needs of different application scenarios.

Price Alert

1. Fixed the error problem caused by different interval differences in creating price prediction blocks.

2. Price Alert added statistics of winning information page and account win rate statistics.

3. When participating in price prediction, added check whether the current address has already participated, and prohibit entering the participation details page if it has participated.

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 eight months, with operational matters on the chain and good performance in all data. The following are the data on the chain as of 5.31.

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 5.15–5.31. The total stake volume has steadily advanced to 35,000,000 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.

Latest Community Activities

From 6.1–6.10, the official Ares Protocol community is hosting a price prediction campaign. You can create your Gladios account and receive test coins for price prediction by following the Price Prediction Operation Guide. The user with the most accurate prediction will be rewarded with 100 USDT worth of ARES.

At the same time, you can also share your predictions on designated platforms for a chance to win 200 USDT worth of ARES rewards. The campaign will end on June 10, so we look forward to your active participation!

Social Media Numbers

The project currently has 30.6K subscribers on Twitter, 1.1K subscribers on WeChat, and 2.6K followers on Medium. The total number of community members is currently 48.3K.

Trojan & iliad Staking

Ares Trojan staking, based on Ethereum, is ongoing. This week, 60-day fixed-term products received a total of 10,706,370 ARES; 120-day fixed-term products received 5,863,805 ARES; 180-day fixed-term products received 8,497,701 ARES; stakes on 270-day fixed-term products received 459,049 ARES; notably, stakes on 360-day fixed-term products received 6,351,067 ARES.

This week, 60-day fixed-term products received 4,017,479 ARES; 120-day fixed-term products received 812,205 ARES; 180-day fixed-term products received 3,180,572 ARES; 270-day fixed-term products went to 2,423,488 ARES in staked volume; and 360-day fixed-term products have 33,046,786 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

Telegram Group: https://t.me/aresprotocollab
Telegram Channel:
https://t.me/AresProtocolAnnouncements
Twitter:
https://twitter.com/AresProtocolLab
Facebook:
https://www.facebook.com/aresprotocollab
Instagram:
https://www.instagram.com/aresprotocollab/
Medium:
https://aresprotocollab.medium.com
Discord:
https://discord.gg/cqduK4ZNaY
Reddit:
https://www.reddit.com/r/AresProtocolLabs/
Email:
info@aresprotocol.io
Youtube:
https://www.youtube.com/channel/UCgwY4NwkoP8Hx1Fqmp_rJUw

Telegram Groups

Spanish: https://t.me/aresprotocol_spanish
Ukrainian: https://t.me/AresProtocol_UkrainianCommunity
Chinese: https://t.me/AresprotocolChina
Russian: https://t.me/AresProtocol_RussianCommunity
Japanese: https://t.me/AresProtocol_JapaneseCommunity
Korean: https://t.me/AresProtocol_KoreanGroup
Hindu: https://t.me/AresProtocol_HindiCommunity
French: https://t.me/AresProtocolFrenchCommunity
Arabic: https://t.me/AresProtocolArabic_Community
Turkish: https://t.me/AresProtocol_TurkishCommunity
Portugese: https://t.me/AresProtocol_PortugueseCommunity

--

--

Ares Protocol

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