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 revealed that after the MainNet swap of Ontology Symbol (ONT) which is scheduled for July 4, symbols of the individuals will certainly be automatically moved to the brand-new MainNet.

The electronic possession exchange was founded in 2014 by OKCoin CEO Celebrity Xu. The exchange asserts to provide “thousands of token and also futures trading pairs to assist traders optimize their method” as well as to have “obtained millions of dollars’ worth of investments from leading enterprises”. Its headquarters remains in Hong Kong.

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

OKEx informed that ONT withdrawal is now suspended. The suspension time of the deposition of ONT will be informed later on. The resumption time will additionally be revealed later on. OKEx warned the individuals that trading electronic assets involve considerable risk and also it could result in loss of invested funding.

They additionally mentioned that individuals need to fully recognize the risk included. It is very important to take into consideration the degree of experience, investment purposes and also look for independent economic suggestions if required. Ontology MainNet obtained 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 known for its two-token model. The design was started for handling a dual token system. The stated tokens can be made use of for trading, storing network, sending out and completing digital agreements. Among the tokens (ONT) is particularly created for administration, whereas the various other one (ONG) is an utility token. The ONT owners can likewise utilize it for voting on the crypto exchange system.

Ontology (ONT) Market Performance

The MainNet pre-launch event took place on June 26 where together with its companions, it talked about the main use-cases of it in reality. ONT saw an incredible rise of 13.47% in its price, a day prior to the occasion. Currently, ONT is trading at $5.13, with a market cap of $775. In the last 1 Day, the rate spiked up by 1.81%.

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