OKEx announces withdrawal suspension of Ontology Token (ONT), MainNet swap in progress

Home » News » OKEx announces withdrawal suspension of Ontology Token (ONT), MainNet swap in progress
July 5, 2018 by
OKEx announces withdrawal suspension of Ontology Token (ONT), MainNet swap in progress

OKEx introduced that after the MainNet swap of Ontology Token (ONT) which is set up for July 4, tokens of the users will be immediately transferred to the brand-new MainNet.

The digital possession exchange was founded in 2014 by OKCoin Chief Executive Officer Celebrity Xu. The exchange claims to provide “thousands of token and also futures trading sets to assist investors maximize their method” as well as to have “gotten countless bucks’ worth of investments from leading enterprises”. Its headquarters is in Hong Kong.

See also: Ontology (ONT) MainNet launch goes live, know more about it

OKEx informed that ONT withdrawal is now put on hold. The suspension time of the deposition of ONT will be informed later on. The resumption time will certainly additionally be introduced later on. OKEx alerted the customers that trading electronic properties include considerable danger and it can result in loss of spent resources.

They additionally mentioned that users should fully recognize the risk included. It is important to consider the level of experience, financial investment purposes as well as seek independent economic guidance if needed. Ontology MainNet got released on June 30, 2018. The Network tweeted: “Ontology 1.0 is now live. Thanks for visiting the brand-new globe”.

See also: OKEX: Cybersecurity Company has found a loophole in UDST deposit

Ontology’s two-token model

The blockchain is understood for its two-token model. The design was begun for handling a double token system. The said symbols can be used for trading, keeping network, sending out as well as accomplishing digital agreements. One of the symbols (ONT) is specifically made for administration, whereas the various other one (ONG) is an utility token. The ONT holders can likewise utilize it for voting on the crypto exchange system.

Ontology (ONT) Market Performance

The MainNet pre-launch occasion happened on June 26 where along with its partners, it reviewed the major use-cases of it in reality. ONT saw an amazing surge of 13.47% in its rate, a day before the event. Currently, ONT is trading at $5.13, with a market cap of $775. In the last 24 hours, the rate surged up by 1.81%.

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