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 scheduled for July 4, symbols of the users will be immediately transferred to the new MainNet.

The electronic asset exchange was founded in 2014 by OKCoin Chief Executive Officer Celebrity Xu. The exchange declares to provide “numerous token as well as futures trading pairs to help investors optimize their method” and to have actually “acquired numerous dollars’ well worth of investments from leading business”. Its head office remains in Hong Kong.

See additionally: Ontology (ONT) MainNet launch goes live, understand even more regarding it

OKEx informed that ONT withdrawal is now put on hold. The suspension time of the deposition of ONT will certainly be informed later on. The resumption time will certainly likewise be announced later. OKEx warned the users that trading digital properties include substantial risk and also it can result in loss of invested capital.

They even more mentioned that users should totally understand the threat included. It is very important to think about the degree of experience, financial investment purposes and also seek independent monetary recommendations if needed. Ontology MainNet obtained released on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently live. Thanks for visiting the brand-new world”.

See additionally: OKEX: Cybersecurity Company has located a loophole in UDST deposit

Ontology’s two-token model

The blockchain is understood for its two-token design. The model was begun for managing a double token system. The said symbols can be used for trading, storing network, sending out and also accomplishing electronic contracts. Among the tokens (ONT) is especially created for governance, whereas the various other one (ONG) is an utility token. The ONT owners could also utilize it for electing on the crypto exchange platform.

Ontology (ONT) Market Efficiency

The MainNet pre-launch event took place on June 26 where along with its partners, it talked about the major use-cases of it in reality. ONT saw a remarkable surge of 13.47% in its cost, a day before the event. Currently, ONT is trading at $5.13, with a market cap of $775. In the last 24-HOUR, the cost increased up by 1.81%.

shekar

A mechanical engineer turned journalist, Shekar takes a keen interest in the study and analysis of cryptocurrencies and blockchain strategy. With the cryptocurrency world blooming in the recent days, he finds great interest in monitoring their growth and gathering every possible piece of information about them. He works as a crypto-journalist for the website Gamecointalk.

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