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 Token (ONT) which is set up for July 4, tokens of the users will be automatically transferred to the brand-new MainNet.

The digital property exchange was founded in 2014 by OKCoin CEO Celebrity Xu. The exchange claims to supply “thousands of token as well as futures trading pairs to assist traders enhance their approach” as well as to have “gained countless dollars’ worth of financial investments from leading business”. Its headquarters 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 certainly be notified later on. The resumption time will also be introduced later on. OKEx cautioned the individuals that trading digital assets include substantial risk and it could lead to loss of spent capital.

They additionally mentioned that customers need to completely recognize the danger included. It is important to take into consideration the degree of experience, financial investment purposes and also seek independent financial guidance if needed. Ontology MainNet got released on June 30, 2018. The Network tweeted: “Ontology 1.0 is now 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 recognized for its two-token version. The design was begun for handling a double token system. The claimed tokens can be used for trading, saving network, sending as well as completing electronic contracts. Among the symbols (ONT) is especially created for administration, whereas the various other one (ONG) is an utility token. The ONT owners can likewise utilize it for electing on the crypto exchange platform.

Ontology (ONT) Market Performance

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

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