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 arranged for July 4, tokens of the individuals will certainly be automatically transferred to the brand-new MainNet.

The electronic property exchange was founded in 2014 by OKCoin Chief Executive Officer Celebrity Xu. The exchange declares to offer “thousands of token as well as futures trading sets to help investors maximize their strategy” and to have actually “obtained numerous dollars’ worth of financial investments from leading business”. Its head office remains in Hong Kong.

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

OKEx educated that ONT withdrawal is currently put on hold. The suspension time of the deposition of ONT will be notified later on. The resumption time will certainly also be revealed later on. OKEx warned the individuals that trading digital possessions involve substantial danger and it can lead to loss of invested funding.

They further mentioned that individuals should completely understand the danger included. It is very important to take into account the level of experience, investment purposes as well as look for independent monetary suggestions if needed. Ontology MainNet got launched on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently 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 model was begun for handling a double token system. The said tokens can be made use of for trading, keeping network, sending out and achieving digital agreements. One of the symbols (ONT) is especially developed for governance, whereas the other one (ONG) is an utility token. The ONT holders can additionally use it for voting on the crypto exchange system.

Ontology (ONT) Market Performance

The MainNet pre-launch event occurred on June 26 where together with its partners, it went over the major use-cases of it in real life. ONT saw a miraculous surge of 13.47% in its price, a day prior to the occasion. Presently, ONT is trading at $5.13, with a market cap of $775. In the last 24 Hr, the price increased up by 1.81%.

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