Ontology Monthly Report — November 2020

Published in

OntologyNetwork

5 min readDec 2, 2020

November marked another very successful month for Ontology. We joined forces with Patract Labs, a developer of solutions for Polkadot’s Parachain Contract Ecosystem, to accelerate smart contract ecosystem development. Improvements were made to elements of ONTO, in a bid to engage more users with faster and friendlier services. Ontology is also delighted to announce the launch of a new DeFi product, the ‘Inclusive Pool’ on Wing.

Some of the highlights from November 2020 include:

MOU with Patract Labs
Wing’s Inclusive Pool
Launching ONTO v3.6.0
ONTO’s Special NFT Medal Campaign
Cointelegraph Consulting
Altcoin Daily’s latest YouTube video release
Updates with bloXroute

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

- ONTO v3.6.0 and v3.6.2 were both launched

- Integrated cross-chain swapping between multiple trading pairs

- Added support for Binance Smart Chain

- Added a new feature of sending messages when the user is making a transfer

- Upgraded the features of ONT ID registration, asset management on the “Asset” page, and wallet import/export

- The Ontology team successfully initiated the ONTO Special NFT Medal Campaign Hundreds of users received their NFT medals by participating in node staking or registering an ONT ID on ONTO.

- This month ONTO’s social media account on Huoxing Finance reached over 5,000 fans and over 100,000 accumulated views.

dApp

- 104 dApps launched in total on MainNet

- 6,215,637 dApp transactions completed in total on MainNet

Community Growth

- We have onboarded 311 new members across Ontology’s global communities, with significant growth in our Turkish, Persian, and Russian 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

- On November 23rd, we announced our collaboration with Patract Labs, the solution provider for Polkadot’s Parachain Contract ecosystem. This partnership will see Patract Labs support Ontology in developing and deploying a transfer bridge pallet on the Patract Network to enhance interaction. It will also help developers from the Ontology ecosystem to build smart contract dApps, and will deepen cooperation in marketing and other operations. This latest collaboration aims to facilitate cross-chain interaction between Ontology and other projects in the Polkadot network.

- On November 13th, the Wing DAO community voted in favor of launching the Inclusive Pool on Wing. A first-of-its-kind in the DeFi space, Wing is a credit-based lending and borrowing product which is built on the Ontology blockchain. Integrated with the credit evaluation system OScore, Wing’s Inclusive Pool brings users a brand-new experience of under-collateralized lending, allowing users with high credit scores to borrow up to 100 tokens while only collateralizing 90 tokens.

- On November 10th, the recently released ONTO v3.6.0 was fully equipped with a built-in cross-chain aggregate swap function, which will enable users to instantly swap assets between multiple chains at any given time.

- On November 2nd, ONTO, Ontology’s self-sovereign data wallet, successfully completed its Special NFT Medal Campaign for October, distributing 1,000 Citizen medals, 1,000 Follower medals, and a total of 1,000 ONG incentives.

- On November 16th, the ONTO team initiated its online Special NFT Medal Campaign for this month. 1,000 King’s Landing NFT medals and 1,000 Iron Bank NFT medals will be awarded to users who successfully complete the campaign.

-On November 4th, Cointelegraph Consulting, the consulting arm of Cointelegraph, announced Ontology as an official Technical Provider for enterprise solutions.

- On November 7th, Altcoin Daily, an influential YouTube channel which covers crypto assets, included Ontology’s latest achievements in its most recent video.

- Ontology has continued to share product updates and integration updates with bloXroute. Some of these achievements included the completed configuration with F2Pool and the results from a network speed test comparing Infura/Alchemy to the bloXroute Cloud-API.

Events

- On November 12th, Jun LI, Founder of Ontology, participated in an event called “The DAO of DeFi: New Discoveries in the DeFi Sector”. This event was co-hosted by The DAO of DeFi and Bytom blockchain. During the event, Jun LI gave a keynote speech referencing Ontology’s mission to fuel DeFi development with credit, while also joining a panel discussion themed “New Discoveries Made by DeFi Scientists (on DeFi Applications)”. LI stated, “I believe the next wave of booms in the DeFi sector lie in synthetic assets and asset digitalization, NFTs, and decentralized insurance projects.”

- On November 24th, Jun Li participated in a panel discussion called “Cross-chain Assets Leading the Way to A More Connected Future” during the wETC Token Release Event. This event was organized by Ethereum Classic and co-organized by www.jinse.com and qianba.com, two blockchain finance-focused media outlets. During the panel, Li shared with the audience the latest progress Ontology has made in the DeFi space and his views on the prospects of the cross-chain market.

- On November 27th, Ning Hu, Ontology’s Senior Tech Lead, participated in an event on the theme of “Development of Open Source Blockchain Technologies in China”, hosted by Hashwei Tech Community and others at Hangzhou, China. During a panel discussion on the topic of “Challenges and Prospects of Cross-chain Technology”, Hu made a detailed interpretation on the latest progress of cross-chain technology and shared his predictions on the next big technical booms in the blockchain sector.

- On October 28th, Kendall MAO, Dean of the Ontology Institute, spoke at a livestream event titled “The Building of the On-Chain Credit Evaluation Mechanism and Its DeFi Applications”. The event was organized by www.jinse.com, which is a well-known blockchain service platform. Kendall discussed the four key features of a decentralized credit evaluation system and its potential application scenarios.

- On November 6th, Will LIU, Ontology’s Data Department Lead, participated in an event called “Interpreting Debated Topics in DeFi: Asset Digitalization and Privacy Protection”, where he shared his insights in a panel titled “Next Big Thing after DeFi”.

Recruitments

- Solution Architect

- Business Sales

- Global Development Director

- Global Development Manager

- Global Marketing Manager

- Social Media Associate

- Product Manager

New Team Members

- 1 Senior operation associate

- 1 Community co-builder

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