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

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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 Symbol (ONT) which is arranged for July 4, tokens of the users will certainly be instantly transferred to the new MainNet.

The digital possession exchange was founded in 2014 by OKCoin Chief Executive Officer Star Xu. The exchange declares to offer “numerous token and futures trading pairs to assist investors enhance their method” as well as to have actually “acquired numerous bucks’ well 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 informed that ONT withdrawal is now put on hold. The suspension time of the deposition of ONT will certainly be informed later on. The resumption time will likewise be introduced later. OKEx warned the users that trading electronic possessions include significant danger and it could result in loss of spent funding.

They better stated that individuals must totally comprehend the risk included. It is important to take into account the degree of experience, investment purposes and look for independent financial guidance if called for. Ontology MainNet got introduced on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently live. Welcome to the brand-new world”.

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 design. The design was begun for handling a double token system. The said tokens can be made use of for trading, keeping network, sending and also accomplishing digital contracts. One of the symbols (ONT) is specifically designed for governance, whereas the other one (ONG) is an utility token.

Ontology (ONT) Market Performance

The ONT holders can additionally utilize it for electing on the crypto exchange system.
The MainNet pre-launch event occurred on June 26 where along with its companions, it discussed the primary use-cases of it in reality. ONT saw an incredible rise of 13.47% in its cost, a day prior to the occasion. Currently, ONT is trading at $5.13, with a market cap of $775. In the last 24-HOUR, the cost spiked up by 1.81%.

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