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 revealed that after the MainNet swap of Ontology Token (ONT) which is set up for July 4, tokens of the users will certainly be immediately transferred to the brand-new MainNet.

The digital possession exchange was founded in 2014 by OKCoin CEO Celebrity Xu. The exchange asserts to provide “thousands of token as well as futures trading sets to assist traders enhance their technique” and to have “gained numerous dollars’ well worth of financial investments from leading ventures”. Its head office is in Hong Kong.

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

OKEx notified that ONT withdrawal is now suspended. The suspension time of the deposition of ONT will be educated later. The resumption time will certainly likewise be revealed later. OKEx warned the customers that trading electronic assets entail significant threat and it could lead to loss of spent resources.

They additionally stated that customers must completely comprehend the threat involved. It is necessary to take into consideration the level of experience, investment goals as well as seek independent financial advice if called for. Ontology MainNet got launched on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently live. Welcome to the 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 model. The version was started for handling a double token system. The said tokens can be used for trading, storing network, sending out and also achieving electronic contracts. Among the symbols (ONT) is particularly made for governance, whereas the various other one (ONG) is an utility token. The ONT holders can additionally utilize it for voting on the crypto exchange system.

Ontology (ONT) Market Performance

The MainNet pre-launch occasion took place on June 26 where in addition to its partners, it talked about the primary use-cases of it in the real world. ONT saw a remarkable surge of 13.47% in its rate, a day before the event. Presently, ONT is trading at $5.13, with a market cap of $775. In the last 24-HOUR, the price surged up by 1.81%.

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