Weekly Update｜Price Alert feature enters internal testing

6 min readMar 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 five 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 almost 35,000,000 ARES.

At the same time, Ares's official community held a “Questionnaire of the Week” quiz. The contest ended on February 28th, and the Ares Protocol community will award prizes to active users within a week.

This week’s development process

Ares Chain

1. The interface of the Reminder sweeper has been upgraded. The new interface supports the data interface classified according to Reminder-Label, which allows users to classify Reminder’s labels.

2. A new login interface has been added to the Reminder-Service back-end application. This interface records the login status of the user and allows the data information interface to return the email information of the logged-in user.

3. Solve the problem that the data returned by the Doge-Symbol data interface of the block sweeper server is 0.

4. Reminder-Service data template adjustment, add Label and other details to the mail.

Price Alert

1. Added the display of the email address bound to the user’s current address in the price monitoring list page, so that users can quickly understand the binding information of the current account.

2. Improved the list of ongoing price monitoring and the list of alert pages by adding a set Tag and the ability to filter data by Tag, making it easier for users to view data information.

3. Fixed the problem of inaccurate prices caused by the conflict between re-fetching real-time prices and fetching default symbol prices after setting the current symbol as the symbol to be modified after entering the Modify Price Monitoring page, and added the function of not being able to modify the symbol when modifying and displaying the refunded balance if modified to reduce the number of notifications.

4. Added the wallet signature function when entering the price page to ensure the security of getting the user’s bound email data.

5. Fixed the issue that when adding a reminder, the account itself had a balance but indicated that the balance was insufficient, resulting in the inability to add it.

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 five months, with operational matters on the chain and good performance in all data. The following are the data on the chain as of 2.28.

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 2.15–2.28. The total stake volume has steadily advanced to almost 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.

Social Media Numbers

The project currently has 33.1K subscribers on Twitter, 1.1K subscribers on WeChat, and 2.6K followers on Medium. The total number of community members is currently 57.58K.

Ares's official community held a “Questionnaire of the Week” question and answer event. By answering the corresponding questionnaire and holding 2000 ARES during the campaign period, each participant will have a chance to win 10 ARES.

The campaign ended on February 28th, and the Ares Protocol community will distribute rewards to active users within a week.

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 5,863,805 ARES; 180-day fixed-term products received 8,493,861 ARES; stakes on 270-day fixed-term products received 430,148 ARES; notably, stakes on 360-day fixed-term products received 6,786,734 ARES.

This week, 60-day fixed-term products received 2,769,696 ARES; 120-day fixed-term products received 1,076,411 ARES; 180-day fixed-term products received 9,193,224 ARES; 270-day fixed-term products went to 2,683,503 ARES in staked volume; and 360-day fixed-term products grew to 24,096,378 ARES in staked volume.

It is worth noting that as of April 11, 2023, the new round of regular staking will be calculated at the latest APY, ranging from 20% — 40%. To ensure your return on earnings, please make sure you withdraw your rewards before April 11.

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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