Illusionist Group invests in Ares Protocol

Global blockchain and digital assets investment firm Illusionist Group (VC behind PolkaWarriors – one of the biggest community of $DOT hodlers around the world) announce an investment in Ares Protocol - The first chain-verified decentralized cross-chain oracle service protocol.

Ares is a decentralized hybrid oracle that fully realizes the on-chain and on-chain verification of oracle data. By using VRF to discover the random selection of aggregators, data centralization is solved, and a very low participation threshold is guaranteed. However, the random selection of the aggregator cannot guarantee the accuracy of the data. In order to solve the problem of data valuable, Ares innovatively adopts a challenger model.

As an open-source decentralized cross-chain oracle service protocol, Ares builds a decentralized data transaction ecosystem by introducing a token model and community governance. Data demanders can safely and effectively obtain off-chain data and allow high-quality data providers to profit through on-chain governance and data transactions.

As an investment firm with the aim to grow a larger and stronger blockchain, Illusionist Group shares the same vision with Ares Protocol and understands the need to have a decentralized cross – chain oracle service protocol which can provide secure and reliable data services for the interconnection of the chain and the digital economy. Through this investment, we hope it will help to expand Ares Protocol’s opportunities in the crypto market as well as blockchain space. We are excited to make a small contribution to the development of the whole Polkadot ecosystem.

About Ares Protocol

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. Ares provides precise and reliable real-time off-chain data for DeFi use cases such as decentralized stable coins, AMMs, lending, insurance, and financial derivatives. It provides convenient out-of-the-box stable infrastructure for the development of DeFi projects

More info about Ares Protocol can be found here

About Illusionist Group

Illusionist Group is the capital behind Polka Warrior – the biggest community of $DOT hodlers around the world. It is a global blockchain and digital asset investment firm, which focuses on ventures, tokens, projects, as well as the growth of the cryptocurrency market. Based in Vietnam, Illusionist Group has extensive history in global fund distribution, combined with our strong relationships and partnerships with investors, venture capitals, leading academic institutions and fund platforms can create values to support technical teams having robust and innovative projects, which helps to grow a larger and stronger blockchain ecosystem.