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 Symbol (ONT) which is arranged for July 4, symbols of the customers will be instantly transferred to the brand-new MainNet.

The electronic property exchange was founded in 2014 by OKCoin CEO Star Xu. The exchange declares to offer “hundreds of token and futures trading pairs to help traders maximize their strategy” and also to have actually “obtained millions of bucks’ 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 currently suspended. The suspension time of the deposition of ONT will certainly be informed later. The resumption time will certainly additionally be announced later on. OKEx warned the individuals that trading digital possessions include considerable danger as well as it can lead to loss of spent resources.

They even more pointed out that customers need to fully understand the danger included. It is necessary to take into consideration the level of experience, investment purposes and also look for independent monetary guidance if required. Ontology MainNet got introduced on June 30, 2018. The Network tweeted: “Ontology 1.0 is now live. Thanks for visiting the brand-new world”.

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 design. The version was begun for taking care of a double token system. The said tokens can be used for trading, storing network, sending and accomplishing electronic agreements. One of the symbols (ONT) is specifically created for administration, whereas the other one (ONG) is an energy token. The ONT holders could additionally utilize it for voting on the crypto exchange platform.

Ontology (ONT) Market Performance

The MainNet pre-launch occasion took place on June 26 where along with its partners, it went over the major use-cases of it in reality. ONT saw an incredible surge of 13.47% in its rate, a day prior to the occasion. Currently, ONT is trading at $5.13, with a market cap of $775. In the last 24-HOUR, the rate surged up by 1.81%.

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