A review of Ares Protocol scams from community members

A review of ares scams from community members
Grant from Web3
Ares Protocol received support from the Web3 Foundation
Ares Protocol is based on Substrate

Ares is a solution built on the Polkadot ecosystem to provide reliable, efficient, and trustless off-chain data. First of all, Ares is constructed through Substrate as a parachain to link to Polkadot’s ecology and share Polkadot’s security consensus; second, Ares is a scalable two-layer oracle network that is Polkadot’s other parachains and mainstream blockchain networks Provide decentralized data oracle services.

validator

The validator verifies the integrity and validity of the data submitted by the aggregator, and submits fraudulent aggregator transactions and correct data to the Reputation Committee for rewards

Aggregator

The aggregator obtains external request data through Scanner and sends the request to the processor to process all Oracle requests. The aggregator randomly selects an aggregator through the VRF algorithm, calls the processor to aggregate data from multiple data sources and submits it to the data demander, and then calls the Scanner to sign the relevant records requested by Oracle and transmit it to the Ares network.

Reputation Committee

By incentivizing validators and punishing malicious aggregators, the security of the Area network is ensured. The Reputation Committee is fully self-governed by the community, running for the Reputation Committee through token mortgage and reputation weighting. The internal arbitration of the Reputation Committee needs to vote through the FSP fraud security protocol, and only runs when there is a dispute on the chain

Data demander

Data demanders can be smart contracts, Parachains, DAPPs, etc.

Economic Model

the Ares token will be released to motivate all participants in the system and ensure the growth and development of the ecosystem through community governance.

New Features image
Node mortgage

Any third party can become a node to access the Ares network by collateralizing a small amount of Ares tokens to provide oracle services.

Community governance

Anyone who holds the Ares pass has the right to govern, and can vote for protocol upgrades and reputation committee elections. The Reputation Committee ensures the security of the Area network by incentivizing validators and punishing malicious nodes.

Application Scenario

Decentralized finance

Ares provides high-precision, real-time, safe and reliable off-chain data for Defi such as decentralized stable coins, exchanges, lending, insurance, and financial derivatives. It provide out-of-the-box stable infrastructure for the development of DeFi projects conveniently.

Prediction market

Decentralized prediction markets, such as Augur and Gnosis, use the wisdom of the crowd to predict real-world results, such as presidential elections and sports betting results.

Off-chain computing

The Ares network bypasses the high cost of on-chain computing, links the complicated third-party computing needs with computing-intensive tasks, and provides unlimited computing power for the existing blockchain.

Team Members

Michael William
CTO
Michael William
CTO

Strategic Investors

Yellow Book release

Improve cross-chain interaction for oracle users

Realize random selection of aggregators and on-chain aggregation

Improve the challenger and arbitration council model

Token Lisiting on Cex

Launch Mainnet

Carry out multi-channel service cooperation

Formal cooperation with enterprises

Eco Marathon Developer Activities

White paper 1.0 release

Core protocol design

WEB3 Foundation Grant Application

Prototype development based on pallet and off-chain work

Improve economic model design

Launch Testnet

Integration of Ares Protocol into Polcadot DeFi projects

White paper 1.0 release

Core protocol design

WEB3 Foundation Grant Application

Prototype development based on pallet and off-chain work

Yellow Book release

Improve cross-chain interaction for oracle users

Realize random selection of aggregators and on-chain aggregation

Improve the challenger and arbitration council model

Token Lisiting on Cex

Improve economic model design

Launch Testnet

Integration of Ares Protocol into Polcadot DeFi projects

Launch Mainnet

Carry out multi-channel service cooperation

Formal cooperation with enterprises

Eco Marathon Developer Activities