Ontology Weekly Report (September 16–22)
This week Ontology made impressive strides in DeFi as Wing, the cross-chain DeFi platform, initiated its first Flash Pool vote on whether to change the WING reward distribution rate during the WING Mining Celebration — resulting in increased rewards for users who participated in the Flash Pool Mining Celebration. Further, in a move aimed at further increasing WING’s liquidity, the WING/EWING swap was launched in the Wing Flash Pool.
Back-end
- Ontology v2.1.1-Alpha version released
- Rust Wasm contract development hub released ontio-std v0.4
Product Development
ONTO
- ONTO v3.4.0 released
- ONTO v3.5.0 under development, expected to be released next week
- New ONTO users increased 400% from last week
dApp
- 84 dApps now live on Ontology
- 6,117,733 dApp-related transactions since genesis block
- 29,825 dApp-related transactions in the past week
Bounty Program
- 1 new application for the Technical Documentation Translation
- 1 new application for SDKs
Community Growth
- 594 new members onboarded across Ontology’s Sinhala, Hindi and Bengali communities.
Newly Released
- On September 17, Wing DAO, the Wing community , initiated its first vote. Community members were invited to vote for a change to the WING reward distribution rate during the WING Mining Celebration. Over 1/3 of all current WING in circulation participated in the vote. As a result, the distribution rate will change to twice, compared with the previous ten times, effective from 00:05, September 18th.
- From September 18th to 29th, through the Flash Pool Mining Celebration, users will be rewarded extra incentives. Users who deposit their WING in the Wing DAO Supply Pool during this period will receive a ten-fold increase in rewards between September 18th and 24th, and a five-fold increase in rewards between September 25th and 29th.
- On September 20th (UTC), the WING/EWING swap was launched in Flash Pool of Wing, with the aim of increasing the project’s liquidity . Recently, project teams such as OpenOcean.finance also announced that WING-related swaps would soon be launched online, opening new channels for WING’s circulation and increased scenarios where WING could be used.
Global Events
- On September 18th, Jun LI (founder of Ontology) took part in a panel discussion themed “Prospects of Decentralized Finance” at 2020 International Fintech Innovation Conference (IFIC) in Shanghai. During the panel discussion, Li stated that should Ontology wish to stand out in the DeFi industry while avoiding stepping into the transaction-fee issue as faced by Ethereum, it needs to work harder on its strategy to support different charges in scenarios of different technical complexities. He said, “Ontology is determined to integrate all types of data, including real-life identity data, credit data and asset data of various groups of people, on the blockchain to build a ‘Super Oracle’ that provides the whole package of data and identity information in various DeFi services.”
Find Ontology elsewhere
Ontology website / ONTO website / OWallet (GitHub)
Twitter / Reddit / Facebook / LinkedIn / YouTube / NaverBlog / Forklog
