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 set up for July 4, tokens of the users will certainly be instantly moved to the brand-new MainNet.

The digital asset exchange was founded in 2014 by OKCoin Chief Executive Officer Celebrity Xu. The exchange claims to offer “numerous token and also futures trading sets to assist investors enhance their strategy” and also to have actually “gained millions of dollars’ well worth of investments from leading ventures”. Its headquarters remains in Hong Kong.

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

OKEx notified 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 certainly additionally be revealed later on. OKEx alerted the users that trading electronic properties entail considerable danger as well as it could result in loss of spent resources.

They further stated that customers should completely understand the threat entailed. It is very important to consider the degree of experience, investment objectives and seek independent economic recommendations if called for. Ontology MainNet obtained launched on June 30, 2018. The Network tweeted: “Ontology 1.0 is now 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 understood for its two-token version. The model was started for managing a dual token system. The said tokens can be made use of for trading, storing network, sending and accomplishing digital agreements. Among the symbols (ONT) is particularly made for administration, whereas the other one (ONG) is an utility token. The ONT owners can also use it for voting on the crypto exchange platform.

Ontology (ONT) Market Performance

The MainNet pre-launch occasion occurred on June 26 where along with its partners, it discussed the primary use-cases of it in reality. ONT saw an amazing 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 1 Day, the price spiked up by 1.81%.

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