OntologyNetwork
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OntologyNetwork

Ontology Weekly Report (November 17–23)

As we reach the end of November, let’s take a look back at what the Ontology team achieved last week. Our persistent efforts in providing our users with more considerate and practical services continued this week, following Wing’s launch of its second product pool, the Inclusive Pool. The Inclusive Pool will provide users with borrowing, lending and insuring services in an under-collateralization model. Also this week, the ONTO wallet rewarded users with a King’s Landing or Iron Bank NFT medals during its November Special NFT Medal Campaign.

Back-end
- Optimized the algorithm of acquiring proposals in the VBFT consensus
- Completed the design of collateralizing SONT

Product Development
ONTO
- The team successfully initiated the ONTO Special NFT Medal Campaign for November. Hundreds of users received the King’s Landing or the Iron Bank NFT medal by participating in node staking or registering an ONT ID on ONTO.
- CryptoDiffer, a renowned media outlet in the cryptocurrency space, reported on our latest news that ONTO now supports Binance Smart Chain.
- Similarly, ONTO’s social media account on Huoxing Finance (http://www.huoxing24.com/) reached the milestones of over 5,000 fans and over 100,000 accumulated views.


dApp
- 104 dApps live on Ontology
- 6,215,637 dApp-related transactions since genesis block
- 5,208 dApp-related transactions in the past week

Bounty Program
- 1 new application for SDK development, and 1 new application for Technical Documentation Translation


Community Growth
- 119 new members onboarded across Ontology’s Turkish, Persian, and Tagalog communities.

Newly Released
- On November 13th, the Wing DAO community voted in favour of launching the Inclusive Pool, the first credit-based lending and borrowing product in the Wing Project, which is built on the Ontology blockchain. Wing offers users innovative borrowing, lending and insuring opportunities. Wing’s latest 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 16th, ONTO, Ontology’s self-sovereign data wallet, initiated its online November Special NFT Medal Campaign. 1,000 King’s Landing NFT medals and 1,000 Iron Bank NFT medals will be awarded to users who completed the campaign. Users who collected a total of 9 NFT medals by December this year are entitled to open the ONTO Annual “Treasure Box”, which holds bountiful rewards.

Global Events
- On November 24th, Jun Li, Founder of Ontology, 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 20th, Gloria Wu, Ontology Global Ecosystem Lead, and John Izaguirre, Ontology Europe Ecosystem Lead, attended the MyData Online 2020 Conference, held by mydata.org. At the conference, they introduced attendees to Ontology’s decentralized identity solutions and how they can help users protect their data and privacy.

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