Weekly Update｜Reward campaign ends successfully, rewards will be issued soon

5 min readApr 3, 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 six 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 35,400,000 ARES.

At the same time, the official community held a “Reward Campaign” for the beta testing of the Price Alert tool. By actively participating in the Price Alert beta test and finding valid bugs, you will have a chance to win great rewards.

This week’s development process

Ares Chain

1. Upgraded Reminder sweeper interface, add more filtering and sorting, test and optimize interface performance and stability.

2. Improved Reminder validator task assignment algorithm optimization, improve the efficiency and accuracy of task assignment.

3. Strengthened the monitoring of validator nodes, discover unstable nodes in time, and avoid the situation that tasks cannot be completed due to unstable nodes.

Price Alert

1. Added Token countdown page on price prediction and share its poster on Twitter and Telegram.

2. Fixed the problem that the navigation bar of price prediction cannot be expanded and the content is collapsed and selected by default.

3. Fixed the problem of the price alert page jumping to other pages and needing to log in again after returning.

4. Fixed the problem that the price alert mailbox cannot receive the pushed email information.

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 six months, with operational matters on the chain and good performance in all data. The following are the data on the chain as of 3.30.

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 3.15–3.30. The total stake volume has steadily advanced to 35,400,000 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 Campaigns

From 3.25 to 4.3, the Ares Protocol official community hosted a “Reward Campaign” for the beta testing of the Price Alert tool. Follow the Price Alert tutorial, create your Gladios account, and get full test coins to test the Price Alert feature. Fast testers will be rewarded with 200–5000 ARES.

Also, you can find bugs in the Price Alert tool during testing, and for each bug found that is deemed valid by the technical team, you will be rewarded with 10,000 ARES. The rewards will be distributed within one week after the campaign closes.

Social Media Numbers

The project currently has 31.3K subscribers on Twitter, 1.1K subscribers on WeChat, and 2.6K followers on Medium. The total number of community members is currently 54.8K.

Trojan & iliad Staking

Ares Trojan staking, based on Ethereum, is ongoing. This week, 60-day fixed-term products received a total of 10,673,869 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 459,049 ARES; notably, stakes on 360-day fixed-term products received 6,786,734 ARES.

This week, 60-day fixed-term products received 3,698,903 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 26,643,096 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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