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 users will be immediately transferred to the new MainNet.

The electronic property exchange was founded in 2014 by OKCoin CEO Star Xu. The exchange asserts to supply “hundreds of token and futures trading sets to help traders maximize their technique” and to have “acquired numerous bucks’ well worth of financial investments from leading enterprises”. Its head office remains in Hong Kong.

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

OKEx educated that ONT withdrawal is now put on hold. The suspension time of the deposition of ONT will be educated later. The resumption time will additionally be introduced later. OKEx warned the users that trading digital properties include considerable danger and also it could result in loss of invested capital.

They even more discussed that users should fully recognize the risk involved. It is very important to think about the degree of experience, investment objectives as well as seek independent monetary guidance if required. Ontology MainNet obtained introduced on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently live. Thanks for visiting 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 version was started for managing a dual token system. The said symbols can be utilized for trading, storing network, sending out as well as accomplishing electronic agreements. Among the symbols (ONT) is specifically made for administration, whereas the various other one (ONG) is an utility token. The ONT holders could also use it for electing on the crypto exchange system.

Ontology (ONT) Market Performance

The MainNet pre-launch event happened on June 26 where in addition to its partners, it went over the primary use-cases of it in reality. ONT saw a remarkable 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 hours, the price surged up by 1.81%.

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