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 arranged for July 4, symbols of the customers will certainly be automatically moved to the new MainNet.

The digital property exchange was founded in 2014 by OKCoin Chief Executive Officer Celebrity Xu. The exchange claims to provide “numerous token and also futures trading pairs to help traders optimize their approach” and to have actually “acquired millions of dollars’ well 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 educated that ONT withdrawal is currently put on hold. The suspension time of the deposition of ONT will certainly be notified later on. The resumption time will certainly likewise be introduced later. OKEx alerted the customers that trading electronic possessions include considerable threat as well as it could cause loss of invested capital.

They additionally pointed out that individuals should completely comprehend the threat entailed. It is very important to take into account the degree of experience, investment objectives and also seek independent monetary suggestions if required. Ontology MainNet obtained introduced on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently 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 version was begun for handling a double token system. The said tokens can be made use of for trading, keeping network, sending as well as accomplishing electronic contracts. Among the tokens (ONT) is specifically developed for governance, whereas the 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 occasion occurred on June 26 where together with its companions, it discussed the main use-cases of it in the real world. ONT saw an incredible surge of 13.47% in its price, a day prior to the event. Presently, ONT is trading at $5.13, with a market cap of $775. In the last 24 hours, the rate increased up by 1.81%.

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