OKEx announces withdrawal suspension of Ontology token (ONT), MainNet swap in progress

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July 5, 2018 by
OKEx announces withdrawal suspension of Ontology token (ONT), MainNet swap in progress

OKEx announced that after the MainNet swap of Ontology Token (ONT) which is scheduled for July 4, tokens of the individuals will be immediately transferred to the new MainNet.

The electronic possession exchange was founded in 2014 by OKCoin CEO Star Xu. The exchange asserts to provide “thousands of token as well as futures trading sets to assist traders optimize their approach” and to have “gained millions of bucks’ well worth of financial investments from leading enterprises”. Its head office is in Hong Kong.

OKEx educated that ONT withdrawal is currently suspended. The suspension time of the deposition of ONT will be notified later on. The resumption time will likewise be introduced later. OKEx warned the individuals that trading electronic possessions include considerable threat and also it could cause loss of invested funding.

They additionally discussed that users must totally understand the threat entailed. It is very important to take into account the degree of experience, financial investment goals and also look for independent economic suggestions if needed. Ontology MainNet obtained released on June 30, 2018. The Network tweeted: “Ontology 1.0 is now live. Thanks for visiting the brand-new globe”.

Ontology’s two-token model

The blockchain is recognized for its two-token model. The model was begun for taking care of a double token system. The said symbols can be made use of for trading, keeping network, sending and also accomplishing electronic agreements. One of the tokens (ONT) is specifically designed for governance, whereas the other one (ONG) is an energy token. The ONT owners can additionally use it for voting on the crypto exchange system.

Ontology (ONT) Market Efficiency

The MainNet pre-launch event occurred on June 26 where together with its partners, it reviewed the main use-cases of it in real life. ONT saw a miraculous rise 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 24 hours, the cost surged up by 1.81%.

shekar

A mechanical engineer turned journalist, Raja 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 Custom Coins.

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