OntologyNetwork
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OntologyNetwork

Ontology Weekly Report (October 1–8)

This week we welcomed the September campaign for special NFT medals, where users can bring home the corresponding Wing NFT medal or Flamingo NFT medal. Furthermore, Ontology continued performance tests with bloXroute, reaping achievements that include the case study on bloXroute’s value for DeFi applications such as UniSwap. As the Founder of Ontology reminded all Wing DAO community members in his letter, now that WING has returned to a governance token, its value will grow increasingly visible to community members.

Back-end

- Completed 10% update of Wasm-NeoVm cross-protocol debugging tool

Product Development

ONTO

- ONTO v3.5.0 released, and increased the Wrapper module and Vault module for Flamingo

- ONTO v3.5.3 released, updated the Wrapper module for Flamingo, and launched Wing dApp

dApp

- 85 dApps now live on Ontology

- 6,143,050 dApp-related transactions since genesis block

- 25,317 dApp-related transactions in the past week

Bounty Program

- 2 new applications for the Technical Documentation Translation

Community Growth

- 1,031 new members onboarded across Ontology’s Pakistan, Vietnamese and French communities

Newly Released

- On September 30, the September campaign for special NFT medals was initiated. Users who supply assets to Wing Flash Pool or deposit assets in Flamingo Vault will receive the corresponding Wing NFT medal or Flamingo NFT medal.

- On October 5, Jun LI, founder of Ontology, sent a letter to the Wing DAO community. Wing had a promising start with a high TVL and APY, but the value of the WING token will be more visible to community members as it grows as a governance token. The Wing team will continue to take into account the community’s feedback to further improve the governance rules, simplify the process for member governance participation, perfect the governance protocol and enable the protocol to be applied to more scenarios.

- Ontology continued performance tests with bloXroute. A test comparing Infura/Alchemy to the bloXroute Cloud-API has been completed, as well as a case study on bloXroute’s value for DeFi applications such as Uniswap. The Ontology BDN integration has also been completed.

Global Events

- On September 28, Jun LI, founder of Ontology, made a keynote speech at POW’ER 2020 DeFi Innovation Summit hosted by Mars Blockchain on “What Barricades the Mass Adoption of DeFi?” He said, “The main reason behind the slow growth of DeFi users lies in an astonishingly small number of assets, and the slow speed at which stocks, equities, real estate properties, and other real assets are introduced into the DeFi sector. For DeFi to grow out of the current swamp, more types of assets need to be introduced to DeFi platforms, and the credit mechanism needs to be incorporated into the DeFi field to bridge the gap between decentralized finance and traditional finance.”

- On September 26 and 28 respectively, Jun LI was invited by Suanli Think-tank, a platform dedicated to the digital economy, on two occasions to elaborate on how to design an innovative DeFi platform based on credit and to brief the audience about “Super Oracle” and how oracles, as bridges in the data world, would connect on-chain assets with the real world.

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