Ontology Weekly Report (September 1–7)
We have had a very exciting week here at Ontology as Wing, the first credit-based DeFi project based on the Ontology blockchain, released its first whitepaper. Integrated with Ontology’s decentralized identity and credit evaluation systems, Wing fuels cross-chain interaction for various DeFi products and decentralized governance.
We are also delighted to share that our tokens ONT and ONG can now be swapped to eONT and eONG on the Ethereum blockchain, and eONT and eONG are listed on the UniSwap platform.
Meanwhile, we continued performance testing with bloXroute by providing reliable technical assistance to our partners.
Back-end
- Completed 50% of Ontology GraphQL interface development
- The Rust Wasm contract development hub released ontio-std v0.3
Product Development
ONTO
- ONTO v3.3.0 released
- Completed the connection with Tron
- Completed the connection with Polkadot
- Upgraded credential functions
- Upgraded asset score functions by including stablecoins into the calculation of asset score
- Upgraded asset score and credential tutorial
dApp
- 71 dApps now live on Ontology
- 6,065,687 dApp-related transactions since genesis block
- 14,320 dApp-related transactions in the past week
Bounty Program
- 1 new application for the technical documentation translation and 1 new application for SDK bounty
Community Growth
- We onboarded 753 new members across Ontology’s Vietnamese, Swedish, and Romanian communities.
Newly Released
- Wing, the first credit-integrated DeFi project based on the Ontology blockchain, released its first whitepaper. According to the whitepaper, Wing serves as a DeFi platform based on Ontology’s decentralized identity and credit evaluating systems. It supports cross-chain interaction between various DeFi products and decentralized governance and introduces a risk control mechanism that promotes a healthy relationship between borrowers, creditors, and guarantors, breaking the barriers with traditional finance through the incorporation of credit.
- Ontology’s digital assets, ONT and ONG, have completed mapping to the Ethereum blockchain platform. ONT and ONG are now listed on UniSwap to support all types of DeFi products on Ethereum. This move marks Ontology as the first mainstream public blockchain that has completed cross-chain communication for Ethereum. Digital assets on the Ethereum blockchain can now be swapped to the Ontology blockchain as bi-directional cross-chain communications are enabled between Ontology and Ethereum.
- Ontology continued its performance testing with bloXroute, with a focus on BDN performance during periods of slow internet. Ontology improved the speed of block propagation, block recovering speed, and transaction stream speed, and announced a partnership with Chainstack.
Global Events
- From September 2–4, Ontology co-organized the event ‘Cointelegraph China’s DeFi Marathon’. On 2 September, the launch of the event, professionals including DeFi project teams, high-tech individuals, senior investors, community enthusiasts, investment research organizations, and media personnel met at the Shanghai site to discuss DeFi topics and the future growth of decentralized finance. Jun LI, Founder of Ontology, addressed the audience during “Ontology: Empowering DeFi with Credit” and joined a panel discussion themed “Public Chain’s Choice amid DeFi Pressure”. He shared inspiring insights on why Ontology decided to get involved with DeFi, our technical upgrading and ongoing development, our new governance and staking economic model, and empowering DeFi with Wing, Ontology’s latest credit-based DeFi project. He added, “By empowering DeFi with credit, we are poised to build the next ‘Super-Oracle’”. In addition, during the event, Erick Pinos, Americas Ecosystem Lead, was engaged in a discussion with the lead of Aave as well as other renowned projects.
- On September 4, Jun LI, Founder of Ontology, participated in a live AMA panel hosted by HyperPay on the topic of “Braving the DeFi-spurred Storm: Where Will Public Chains Head”. During the panel, he unveiled Ontology’s blueprint for DeFi, and briefed community users on the innovative and transformative features of Wing, the credit-based DeFi cross-chain platform.
- On September 3, Kendall MAO, Dean of Ontology Institute, discussed the dilemma posed by DeFi to public chains at a SheKnows live panel organized by 8BTCnews, along with representatives from Bytom Blockchain. Kendall mentioned, “Wing, Ontology’s latest cross-chain DeFi project, is integrated with the element of credit. We believe that a dynamic integration with the OScore system will create new paradigms for DeFi innovations, opening up new opportunities for Ontology.”
Find Ontology elsewhere
Ontology website / ONTO website / OWallet (GitHub)
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