Ontology Weekly Report (August 11–18)

Ontology Gas | 08.19| 48

This week we kicked off our new dApp Incentive Plan, “Renaissance 2.0”, in order to boost the growth of Ontology’s DeFi ecosystem. As part of the program, we will be returning up to double the transaction fees generated by DeFi dApps on Ontology to their respective development teams. We also partnered with Waves to build a cross-chain communication infrastructure that would enable inter-chain DeFi solutions and dApps for the next generation of reliable Web 3.0 applications.


- Ontology v.2.1.0 launched on MainNet

Product Development

ONTO v3.2.0 Released

- Upgraded the credential function, and added templates for different types of credentials

- Added support for Plaid financial data verification

- Optimized transaction fees for ETH transactions

- Integrated new financial services available within ONTO, including an investment product from Babel Finance.

- Updated several UIs


- 70 dApps live on Ontology

- 6,046,942 dApp-related transactions since genesis block

- 10,864 dApp-related transactions in the past week

Bounty Program

- Currently recruiting SDK community developers

- 1 new application for SDK bounty, 1 new application for technical document translation

- 1 new feedback response in “Need Your Idea” bounty from the Bounty Program

Community Growth

- We onboarded 715 new members across Ontology’s Korean, Sinhala, and Vietnamese communities.

Newly Released

- Ontology released the “Renaissance 2.0” DeFi dApp incentive plan with a three-month trial period, during which developers may get up to double the transaction fees returned if they integrate and use ONT ID in their dApp.

- Ontology partnered with Waves to build a cross-chain communication infrastructure for DeFi. Empowered by Gravity, Waves’ cross-chain oracle network, Ontology and Waves have joined forces to offer inter-chain DeFi solutions and dApps to build the next generation of reliable Web 3.0 applications.

Global Events

- On 11 August, Jun LI, Founder of Ontology, was invited to speak on a panel at the POWER 2020 Technology and Application Summit organized by Mars Blockchain. LI was joined by Peng DENG, Director of Mars Blockchain Industry Research Center, and Phillip FEI, Head of Chinese Business at Chainlink, along with other guests to engage in a discussion on “New Opportunities for Blockchain Developers”. During the discussion, LI said, “Blockchain is not here to overturn the internet but to build links and connections. Among these blockchain-enabled connections, the focus lies in the connection of assets, identity, and data.”

- On 13 August, Kendall MAO, Dean of the Ontology Research Institute, shared his insights on Ontology’s new staking model and distributed data infrastructure in an interview with WALI Finance. He emphasized that Ontology will continue to prioritize self-sovereign identity and data.

Find Ontology elsewhere

Ontology website / ONTO website / OWallet (GitHub)

Twitter / Reddit / Facebook / LinkedIn / YouTube / NaverBlog / Forklog

Telegram Announcement / Telegram English / GitHubDiscord

Ontology Weekly Report (August 11–18) was originally published in OntologyNetwork on Medium, where people are continuing the conversation by highlighting and responding to this story.

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