Home Coins Ontology (ONT) Ontology Upgrades dApp Incentive Plan | by The Ontology Team | OntologyNetwork...

Ontology Upgrades dApp Incentive Plan | by The Ontology Team | OntologyNetwork | Aug, 2020

The Ontology Team

Renaissance 2.0 will boost the development of Ontology’s DeFi ecosystem

Decentralized finance, better known as “DeFi”, has become a buzzword in the cryptocurrency industry in recent weeks. According to Defi Pulse, the total value locked in the DeFi sector hit an all-time high of $5.21 billion as of August 14, 2020.

Many developers have already been exchanging ideas and developing DeFi dApps in Ontology’s ecosystem. In the coming months, a range of new decentralized finance applications will be launched, as DeFi capabilities expand to reach more mainstream audiences.

In order to encourage pioneering DeFi developers to build on the Ontology blockchain, we’ve updated our Ontology dApp Incentive Plan to the new “Renaissance 2.0”, with the aim of boosting the DeFi ecosystem on the Ontology network. The Ontology Foundation will give the plan a 3-month trial period — from August 15th, 2020 to October 15th, 2020.

A summary of the DeFi-exclusive Renaissance 2.0 plan is as follows:

1. Active DeFi transaction fee rebate. 100% of all transaction fees (ONG) generated by dApps listed in the Top 10 Ontology dApps on DappRadar on Dappreview will be returned to developers.

2. Developers can get DOUBLE the transaction fees returned if they integrate and use ONT ID in their dApp.

3. High performing developers will be provided with technical, marketing, and operations support from the Ontology team.

Following evaluation processes, accepted applications will receive coaching from experts to help chosen dApps with marketing and development.

Example

John and his team developed a DeFi dApp on the Ontology blockchain that utilizes ONT ID. They submitted their dApp to DappRadar and it became very popular, rising into the Top 10 Ontology dApps list.

With the new Renaissance 2.0 plan, John and his team will receive

  • 200% of all transaction fees (ONG) generated by the dApp. That is,

1) 100% of all transaction fees (ONG) generated by the dApp for being a DeFi dApp.

2) Another 100% of all transaction fees as a reward for integrating and using ONT ID in the dApp

  • Technical support and guidance on protocols, SDK, coding support, and auditing of smart contracts.
  • Marketing support on all Ontology’s social media platforms and 29 communities, as well as event planning (such as an AMA in Ontology’s community telegram groups), graphic designs, news releases and proofreading, real-time community maintenance, and feedback.

Don’t miss out! The earlier you apply, the earlier you can start to earn rewards. The application review normally takes around 1 to 2 business days.

How to apply?

Develop a DeFi dApp on the Ontology blockchain first and then submit your dApp to either DappRadar or DappReview. The Ontology team will check the dApp ranking and announce the rewards distribution status on Twitter on the last week of each month.

Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our official website. There, you can find developer tools, documentation, and more.

Source link

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
474FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,579FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.18
GBP
1.29
CHF
1.10
NOK
0.11
JPY
0.01
CAD
0.76
AUD
0.73

Most Popular

Brazen Nigerian Crypto Scam Inksnation Still Operational Three Months After Regulator Warning

One of Nigeria’s most brazen crypto scams, Inksnation remains operational and still invites new investors some three months after the country’s Securities...

Former government contractor avoids jail for mining crypto at work

A former government contractor in Australia who mined crypto using state-owned supercomputers has avoided jail time. According to The Sydney Morning Herald, Jonathan Khoo...

Party at Vitalik’s House? For DeFi, it’s Do-or-Die

Ethereum gas prices have set new records, with single DeFi transactions costing over $10 in fees. High fees are the result of...

The battle between DeFi, CeFi and the old guard

We aren’t taught real economics in school. We learn, instead, voodoo economics. For example, rarely — if ever — do professors present us with...
bitcoin
Bitcoin (BTC) $ 10,778.56
ethereum
Ethereum (ETH) $ 366.19
ripple
XRP (XRP) $ 0.242206
tether
Tether (USDT) $ 0.999416
bitcoin-cash
Bitcoin Cash (BCH) $ 222.26
bitcoin-cash-sv
Bitcoin SV (BSV) $ 150.33
litecoin
Litecoin (LTC) $ 46.29
eos
EOS (EOS) $ 2.63
binancecoin
Binance Coin (BNB) $ 25.78
okb
OKB (OKB) $ 6.08
tezos
Tezos (XTZ) $ 2.22
leo-token
LEO Token (LEO) $ 1.23
cardano
Cardano (ADA) $ 0.088099
monero
Monero (XMR) $ 90.75
stellar
Stellar (XLM) $ 0.075727
chainlink
Chainlink (LINK) $ 9.80
huobi-token
Huobi Token (HT) $ 4.72
tron
TRON (TRX) $ 0.026499
usd-coin
USD Coin (USDC) $ 0.997257
dash
Dash (DASH) $ 69.52
neo
NEO (NEO) $ 23.18
iota
IOTA (MIOTA) $ 0.256540
nem
NEM (XEM) $ 0.108670
zcash
Zcash (ZEC) $ 55.44
maker
Maker (MKR) $ 465.35
paxos-standard
Paxos Standard (PAX) $ 0.997028
ethereum-classic
Ethereum Classic (ETC) $ 5.03
vechain
VeChain (VET) $ 0.014077
true-usd
TrueUSD (TUSD) $ 0.998045
ftx-token
FTX Token (FTT) $ 3.69
kucoin-shares
KuCoin Shares (KCS) $ 1.14
waves
Waves (WAVES) $ 2.41