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 Symbol (ONT) which is set up for July 4, tokens of the individuals will certainly be automatically moved to the new MainNet.

The digital possession exchange was founded in 2014 by OKCoin Chief Executive Officer Celebrity Xu. The exchange declares to provide “numerous token as well as futures trading sets in order to help traders maximize their method” and also to have “acquired countless dollars’ well worth of financial investments from leading enterprises”. Its headquarters is in Hong Kong.

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

OKEx educated that ONT withdrawal is now put on hold. The suspension time of the deposition of ONT will be educated later. The resumption time will additionally be announced later on. OKEx advised the users that trading digital assets entail considerable risk and also it could cause loss of invested funding.

They further stated that users should totally recognize the risk involved. It is important to think about the level of experience, investment objectives as well as seek independent monetary guidance if needed. Ontology MainNet got launched on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently live. Welcome to the new globe”.

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 model. The design was begun for managing a dual token system. The said tokens can be made use of for trading, storing network, sending as well as completing digital agreements. One of the tokens (ONT) is specifically designed for administration, whereas the various other one (ONG) is an utility token. The ONT holders could also use it for voting on the crypto exchange system.

Ontology (ONT) Market Performance

The MainNet pre-launch occasion occurred on June 26 where in addition to its companions, it went over the main use-cases of it in reality. ONT saw a remarkable surge of 13.47% in its cost, a day before the occasion. Presently, ONT is trading at $5.13, with a market cap of $775. In the last 24 Hr, the price surged up by 1.81%.

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