A Decentralized Cross-chain Oracle Service Protocol

A Decentralized Cross-chain Oracle Service Protocol , that provides safe and reliable data input for Wanchain interconnection and digital economy.

Grant from Web3

Ares Protocol received support from the Web3 Foundation

Substrate

Ares Protocol is based on Substrate

Ares is an on-chain verifying oracle protocol powered by Polkadot. It provides reliable off-chain data efficiently and in a trustless manner. Ares is built on Substrate and constructed as a parachain to link to Polkadot's ecology and share its security consensus. It is a scalable oracle network that provides decentralized data services to the Polkadot ecosystem and its parachains.

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. Similar to the Ares token, There is another coin called SingularityNET (AGIX), one of the best-known and most popular "AI Coins". According to singularitynet (agix) prognose, it is expected to continue growing and expanding in the coming years.

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.

Transaction Fee

For each oracle request, a processing fee needs to be paid to the node. The WEPE token offers low transaction fees, making it an affordable choice for users who make frequent transactions. These reduced fees benefit users by lowering overall costs compared to traditional financial services. Additionally, the token’s decentralized nature enables global accessibility, allowing people from various regions to engage in transactions without relying on banks.

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.