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, tokens of the individuals will be immediately moved to the brand-new MainNet.

The electronic property exchange was founded in 2014 by OKCoin CEO Star Xu. The exchange asserts to give “hundreds of token as well as futures trading pairs in order to help traders optimize their approach” and to have “obtained numerous dollars’ worth of investments from leading business”. 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 put on hold. The suspension time of the deposition of ONT will certainly be educated later. The resumption time will also be introduced later. OKEx alerted the users that trading electronic possessions include significant threat and it can cause loss of spent resources.

They further stated that customers ought to fully recognize the threat entailed. It is very important to think about the level of experience, investment goals and also look for independent economic guidance if needed. Ontology MainNet obtained released on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently live. Thanks for visiting the new world”.

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

Ontology’s two-token model

The blockchain is recognized for its two-token version. The model was started for taking care of a dual token system. The said symbols can be made use of for trading, saving network, sending and completing electronic agreements. One of the symbols (ONT) is specifically developed for governance, whereas the other one (ONG) is an utility token. The ONT owners can additionally utilize it for voting on the crypto exchange platform.

Ontology (ONT) Market Performance

The MainNet pre-launch event occurred on June 26 where together with its companions, it went over the primary use-cases of it in real life. ONT saw an amazing surge of 13.47% in its price, a day before the event. Currently, 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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