Home Coins Ontology (ONT) Ontology Weekly Report (September 8–15) | by The Ontology Team | OntologyNetwork...

Ontology Weekly Report (September 8–15) | by The Ontology Team | OntologyNetwork | Sep, 2020

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

– Supported logging into Wing from ONTO and depositing ONT on Wing. ONT deposited from ONTO taking up 55% of the total amount

– ONTO new users and daily active users increased over 500% from last month

dApp

– 80 dApps now live on Ontology

– 6,087,908 dApp-related transactions since genesis block

– 22,221 dApp-related transactions in the past week

Bounty Program

– 1 new application for the Technical Documentation Translation

Community Growth

– We onboarded 230 new members across Ontology’s Spanish, Korean, German communities.

Newly Released

– Starting from September 8, ONT can be deposited in Wing Flash Pool. Flash Pool will start releasing WING tokens as incentives for mining in the genesis pool. Users can participate in Flash Pool by using Cyano Wallet or ONTO Wallet.

– By September 11, an amount of ONT worth USD 15,000,000 has been deposited in Wing, the first credit-based, cross-chain DeFi platform based on Ontology blockchain. Wing also possesses a collateral rate significantly lower than similar platforms. During the first phase (September 15–19) of Wing Mining Celebration, 10 times the incentives will be released exclusively for depositing ONT.

Global Events

On September 9, Nick ZHANG, initiator of Wing, showed up at an online AMA co-organized by RealSatoshi, Winkrypto and Wing, during which he briefed blockchain enthusiasts and Wing users on their vision, mechanisms and core values. Nick believed that in the DeFi course, Wing has its defining value in its credit lending function, enabled by integrating OScore, which is an on-chain credit evaluation system. He also noted that Wing’s infrastructure demands are met by the credit-based identity and data framework exclusively provided by Ontology. He added, “The power of blockchain lies in consensus. It could be found in something as trivial as the record of a single transaction, or as big as a decentralized autonomous organization (DAO). It’s what enables us to envision a future where blockchain technology facilitates the process of globalization, and is on the way to breaking the barriers between races, national borders, assets and social classes. The debated catchphrases in the blockchain arena, such as decentralization, immutability and equitability, all check the boxes of derivative values born out of consensus built on blockchain.”

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