Ontology Monthly Report — December 2020

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OntologyNetwork

6 min readJan 1, 2021

As we reach the end of 2020, it has been another exciting month for Ontology . We released ONTO v3.6.5, and launched the Wing Inclusive Pool for credit-based lending. We are also happy to share that we are integrating the Ontology decentralized identity (DeID) solution into the blockchain-based e-voting system launched by Waves Enterprise. Our DeID can ensure that the identities and data of people who vote are not only protected, but verified. We also announced a partnership with Litentry, aiming to onboard 10,000 users to the DeID and OScore solutions.

Some of the highlights from December 2020 include:

The signing of our MOU with Waves and Litentry
The launch of Wing’s Inclusive Pool
The launch of ONTO v3.6.5
ONTO’s Special NFT Medal Campaign
The “Gas Fee Airdrop” campaign with Binance Smart Chain

You can find more detailed updates below.

MainNet Optimization

- Completed the update of governance contract port

- Optimized JSON-RPC performance in high concurrency scenarios

- Completed 60% of Wasm-NeoVm cross-protocol debugging tool update

Product Development

ONTO v3.6.4 released

- Added support for Binance Chain

- Added support for Binance Smart Chain dApps

- Optimized integrated cross-chain aggregated transaction feature

- Supported ETH ID generation and display

- Supported Npay Phase II project

- Added an announcement page on social media

- Optimized OScore functions

ONTO v3.6.5 released

- Added multiple Binance Smart Chain dApps

- Supported the integrated cross-chain trading feature for Binance Smart Chain

- Added a staking column on the market page, optimized the CeFi column

- Optimized OScore functions

- Added a Chinese information function

- Optimized the ONT node staking function

- Added support for newly released Binance Smart Chain dApps including Pancake, dForce, and Forge Chain

- Launched the Wing Inclusive Pool for credit-based lending

Campaign

- ONTO and AlpacaCity joined forces to carry out a joint campaign whereby users were given the opportunity to earn 5,000 Alpaca NFTs by downloading ONTO. A limited amount of 20 Generation-0 Alpaca were available only for ONTO users. Approximately, 2,000 people participated in the campaign.

- We carried out the “Gas Fee Airdrop” campaign with Binance Smart Chain. Users who transferred BEP-20 BNB in their ONTO wallets were given the opportunity to earn BNBs from a pool with the highest equivalent value of $50000. As of December 20th, more than 7,000 ONTO users participated in the campaign.

dApp

- 108 dApps launched in total on MainNet

- 6,240,890 dApp transactions completed in total on MainNet

Community Growth

- We have onboarded 4,295 new members across Ontology’s global communities, with significant growth in our Vietnamese, Arabic, and Turkish communities.

Bounty Program

- 529 applications, 5 new additions to existing bounties.

- 38 tasks, 50 teams in total: 31 teams have finished their tasks and have received rewards in return, while 19 teams are still working on tasks.

Latest Release

- In the Polkadot Parachain test network Rococo V1 press conference, it was announced that the testnet will be launched on Christmas Eve, December 24th. Ontology will integrate DelD onto Polkadot to build up Polkadot’s parachains and participate in the parachain slots auction in the future. Aside from this, Ontology will gradually adopt its credit scoring system OScore, DDXF, and other technologies into the Polkadot ecosystem.

- On December 15th, Ontology entered into a technological partnership with Waves Enterprise, an enterprise-grade blockchain platform combining both public and private networks as a hybrid solution. The two companies will collaborate to integrate Ontology’s advanced DeID technologies into the blockchain-based e-voting system launched by Waves Enterprise so that corporate users can seamlessly benefit from a fully decentralized approach.

- On December 17th, we partnered with Litentry, a blockchain identity management layer based on the Polkadot network. Ontology and Litentry are aiming to onboard 10,000 users to our DeID and OScore solutions, enriching aggregated identities and targeting potential customers based in Europe, the USA, Latin America, and South-East Asia.

- On December 1st, ONTO wallet added support for the management, deposit, and withdrawal of a variety of digital assets on Binance Chain and Binance Smart Chain.

- On December 5th, the Wing Inclusive Pool launched its test network. The Inclusive Pool will continue Wing’s “supply, borrow, and insurance” mechanisms and set up a Lend pool, Loan pool, and Security Deposit pool.

- On December 9th, Wing Finance, a cross-chain DeFi platform based on Ontology, launched the Inclusive Pool, the world’s first credit-based product for users to lend, borrow, and insure assets. As a digital asset flow pool, the Inclusive Pool increases transparency in DeFi. It does this by integrating the users’ self-sovereign scoring system OScore, built on Ontology, and utilizing these scores in the decision making framework of the Inclusive Pool’s lending and borrowing mechanisms.

Events

- On December 3rd, Li Jun was invited to attend the “Polkadot decoded’’ online conference and to deliver a keynote speech on topics such as DeID, DeFi, and credit scoring. In his speech, Li Jun focused on the applications of ONT ID, the on-chain credit score OScore, the “Welcome Home” blockchain for the automotive industry use case, and Wing, the first credit-integrated DeFi project.

- On December 8th, Li Jun, founder of Ontology, was invited by Upbit, the largest digital asset trading platform in South Korea, to deliver a keynote speech at the UDC 2020 Meet-up Conference. The focus of this was to discuss Ontology’s digital identity and data management solutions.

- On December 3rd, Ning Hu, a senior Ontology architecture expert, was invited to participate in the first session of a series of talks held by Zhongguancun Blockchain Industry Alliance. This talk was titled “Linking the future: a dialogue between Chinese and foreign countries in Blockchain”.

- On December 10th, our Chief of Global Ecosystem Partnerships, Gloria Wu, spoke at the 2020 Paris Blockchain Week Summit. In Gloria’s speech, she introduced Ontology’s various decentralized digital identity and credit technologies, with a focus on our self-sovereign in-car personalization and management solution “Welcome Home”, which was a joint collaboration between Daimler Mobility and Ontology.

- On December 11th, our Chief of Global Ecosystem Partnerships, Gloria Wu, and our Chief of European Ecosystem Partnerships, John Izaguirre, attended the online conference; 2020 MyData, ran by mydata.org.

- On December 10th, Nick Zhang, Ontology Ecosystem Growth Manager, was invited to share the latest developments and progress of Wing in the fifth online resource sharing event by Blocklike and DoraHacks, a decentralized global developer community. This speech focused on introducing Wing’s newly launched Inclusive Pool.

- On December 11th, we closed the essay writing competition for the celebration of Ontology’s third anniversary. We received a total of 146 entries, of which 54 were awarded prizes.

- On December 10th, the ONTO December NFT Medal Campaign was launched. The last of the Ontology monthly NFT series includes two types of medals: the Christmas Reindeer and the Christmas Tree. Both of these medals are OEP-5 NFTs with a supply of 1,000 each. During this campaign, anyone who uses any of the Binance Smart Chain dApps (AlpacaCity / Pancake / DoDo) on the Discovery or Market page of ONTO for more than 1 minute will earn a medal.

Recruitments

- Solution Architect

- Business Sales

- Global Development Director

- Global Development Manager

- Global Marketing Manager

- Social Media Associate

- Product Manager

- Senior JAVA Engineer

New Team Members

- 1 Senior operation associate

- 1 Community co-builder