Highlights

The 7th OWN Insights “The Financialization of DAOs and DID” has been published, written by Erick Pinos, Ontology Americas Ecosystem Lead, sharing the pathway to the broad adoption of DAOs and DID.  

Latest Developments

Development Progress

• We are 100% done with the Rollup VM design. The White Paper will be published soon.
• We are 98% done with the Rollup RISCV EVM actuator.
• We are 85% done with the Rollup L1<->L2 cross-layer communication.
• We are 87% done with the Rollup L1<->L2 Token Bridge.
• We are 99% done with the L1 data synchronization server.
• We are 93% done with the L2 Rollup Node.
• We are 56% done with the L2 blockchain browser.  

Product Development

• ONTO has published its August monthly report, summarizing a series of functional optimizations, various appealing activities and cooperations, as well as the progress of its global ecosystem growth.
• ONTO hosted a big giveaway activity with ElementWorld, 6,666 ELM were up for grabs! Follow the @ONTO Wallet Official Announcement in Telegram for more details!  

On-Chain Activity

• 154 total dApps on MainNet as of September 13th, 2022.
• 7,159,077 total dApp-related transactions on MainNet, an increase of 5,436 from last week.
• 17,940,445 total transactions on MainNet, an increase of 19,969 from last week. 

Community Growth

• We held our weekly Community Call, focusing on the topic “Web2 & Web3”. Starbucks launched its own Web3 platform recently, as many brands did previously, so community members discussed the relationship between Web3 and Web2, and the way that Web3 attracts more users.
• We held our Telegram weekly Community Discussion led by Ontology Loyal Members, discussing “Funding the Education in Web3”. The realization of Web3 is not only a problem of technical realization, but also a problem of user education. The progress of education is closely related to the implementation of Web3.
• As always, we’re active on Twitter and Telegram, where you can keep up with our latest developments and community updates.  

Global News

• Ontology cooperated with Coinhub Wallet, a famous multi-chain wallet, and held an AMA. Global users asked questions about the latest features and security of Coinhub Wallet, and won generous rewards while learning about the application.  

Ontology in the Media

Foresight -The Financialization of DAOs and DID

“There are a plethora of Web3 technologies and even more projects implementing them. Financialization of these technologies isn’t all that matters to drive mass adoption, but it is a powerful driving force. We must take great care in implementing it sustainably and with properly aligned incentives in place to ensure Web3 develops optimally.”