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 Token (ONT) which is scheduled for July 4, symbols of the users will certainly be automatically moved to the brand-new MainNet.

The electronic asset exchange was founded in 2014 by OKCoin CEO Celebrity Xu. The exchange claims to give “thousands of token and also futures trading sets in order to help traders maximize their technique” as well as to have “obtained numerous dollars’ worth of investments from leading business”. Its headquarters is 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 be informed later. The resumption time will additionally be announced later. OKEx cautioned the customers that trading digital assets entail considerable threat and also it could lead to loss of invested funding.

They better stated that individuals should fully recognize the threat entailed. It is important to think about the level of experience, financial investment purposes as well as look for independent financial guidance if called for. Ontology MainNet obtained introduced on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently live. Welcome to the brand-new globe”.

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 design was started for taking care of a dual token system. The claimed symbols can be utilized for trading, storing network, sending and also completing electronic agreements. One of the symbols (ONT) is especially made for administration, whereas the other one (ONG) is an energy token. The ONT owners can additionally use it for voting on the crypto exchange system.

Ontology (ONT) Market Performance

The MainNet pre-launch event happened on June 26 where together with its companions, it reviewed the major use-cases of it in the real world. ONT saw a remarkable surge of 13.47% in its cost, a day prior to the event. Presently, ONT is trading at $5.13, with a market cap of $775. In the last 24-HOUR, the rate increased up by 1.81%.

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