Ontology Weekly Report (May 14th — May 20th, 2024)

As we navigate another week at Ontology, our community continues to grow and thrive with various developments, collaborations, and discussions. Here’s a recap of our activities and updates for this past week:

Latest Developments

• Karmaverse Collaboration on Binance Live: We joined Karmaverse on Binance live, engaging in a dynamic discussion about our collaborative projects and the future of gaming in the blockchain space.

• Web3 Wonderings: This week’s session covered the latest news in the crypto world. If you missed the live event, catch the recording to stay informed about the evolving landscape.

• Community Updates on X: Our community updates have moved to X! Follow us to stay abreast of our latest progress and announcements.

• Zealy on Discord: You can now find access to Zealy events under Discord events, making it easier for our community to engage and participate.

Development Progress

• Ontology EVM Trace Trading Function: Continues to progress at 87%, enhancing our trading functionalities within the EVM.
• ONT to ONTD Conversion Contract: Development is ongoing at 52%, aiming to streamline the conversion process for our users.
• ONT Leverage Staking Design: We are steadily advancing, with progress now at 37%, to provide innovative staking solutions.

Product Development

• Partnership with XSTAR: ONTO has partnered with XSTAR to drive Web3 adoption together. This partnership is expected to foster significant advancements in accessibility and user engagement.

• April Monthly Report Published: Our April monthly report is now available! Dive into a comprehensive review of last month’s activities and achievements to see how ONTO is evolving.

On-Chain Activity

• dApp Ecosystem: We maintain a robust portfolio of 177 dApps on MainNet, supporting a wide array of applications and services.
• Transaction Growth: This week, the network saw an increase of 1,344 dApp-related transactions, bringing the total to 7,765,096. 
• Overall transactions on MainNet also grew by 5,579, totaling 19,434,144.

Community Growth

• Engagement on Social Platforms: Our community remains active on both X and Telegram. Join the discussions and be a part of our growing ecosystem.
• Telegram Discussion on Interoperable DID Solutions: Led by Ontology Harbingers, this week’s discussion, “Exploring Interoperable DID Solutions: Web2, Web3, and Beyond,” delved into how decentralized identity can bridge the gap between traditional web services and blockchain technology, focusing on KYC, login mechanisms, and peer interactions.