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Ontology Weekly Report (July 2nd — July 8th, 2024)

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Welcome to another edition of our Ontology Weekly Report, where we dive into the latest developments, significant achievements, and community activities. Let’s explore the highlights from this past week:

Latest Developments

  • ETHCC Participation: Ontology took part in ETHCC to discuss decentralized identity with MPost, highlighting our continued leadership in the DID space.

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  • Ontology Mainnet 6th Anniversary: We’re celebrating the 6th anniversary of Ontology Mainnet with special events tailored for both stakers and node operators, marking another milestone in our journey.

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  • New Partnership with Hela Labs: We’re excited to announce a new partnership with Hela Labs, which will enhance our offerings and extend our ecosystem.

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  • Giveaway with KIMA on Galxe: In celebration of our anniversary, we partnered with KIMA for a special giveaway on Galxe, rewarding our community for their continued support.

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  • Founder’s Anniversary Post: Ontology’s founder shared a poignant message reflecting on six years of growth and the future of Ontology.

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Development Progress

  • Ontology EVM Trace Trading Function: Progress has reached 95%, moving us closer to fully enhancing our trading capabilities within the EVM.
  • ONT to ONTD Conversion Contract: Development is steadily progressing, now at 65%, to facilitate a smoother conversion process.
  • ONT Leverage Staking Design: We’ve achieved 45% completion in our innovative staking design, which aims to offer flexible and beneficial staking mechanisms to our community.


On-Chain Activity

  • Robust dApp Ecosystem: Our network continues to support 177 dApps on MainNet, showcasing a stable and dynamic ecosystem.
  • Transaction Growth: This week saw an increase of 3,187 dApp-related transactions, totaling 7,773,515. General transactions on MainNet also grew significantly by 28,010, reaching a total of 19,490,283.


Community Growth

  • Engaging Discussions: Our community platforms, including Twitter and Telegram, are alive with discussions on the latest developments and insights. This week, our Telegram discussion led by Ontology Loyal Members focused on “Exploring Interoperable DID Solutions: Web2, Web3, and Beyond,” delving into how decentralized identity can bridge traditional and blockchain-based platforms.