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 Symbol (ONT) which is set up for July 4, tokens of the customers will be automatically transferred to the new MainNet.

The electronic possession exchange was founded in 2014 by OKCoin CEO Celebrity Xu. The exchange declares to provide “hundreds of token and futures trading pairs in order to help investors maximize their approach” and also to have “gotten countless dollars’ worth of financial investments from leading ventures”. Its headquarters remains in Hong Kong.

See likewise: Ontology (ONT) MainNet launch goes live, understand more about it

OKEx educated that ONT withdrawal is now put on hold. The suspension time of the deposition of ONT will be informed later. The resumption time will likewise be announced later on. OKEx alerted the individuals that trading electronic assets include considerable risk as well as it can lead to loss of spent capital.

They even more discussed that customers should totally recognize the danger involved. It is important to take into account the degree of experience, financial investment purposes and look for independent financial advice if required. Ontology MainNet obtained released on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently live. Welcome to the new world”.

See additionally: OKEX: Cybersecurity Company has actually found a technicality in UDST down payment

Ontology’s two-token design

The blockchain is known for its two-token model. The model was started for taking care of a dual token system. The said tokens can be made use of for trading, storing network, sending and also accomplishing electronic agreements. One of the symbols (ONT) is especially made for administration, whereas the various other one (ONG) is an utility token. The ONT owners could additionally use it for electing on the crypto exchange platform.

Ontology (ONT) Market Performance

The MainNet pre-launch event occurred on June 26 where along with its partners, it talked about the major use-cases of it in real life. ONT saw an amazing rise of 13.47% in its cost, a day before the event. Presently, ONT is trading at $5.13, with a market cap of $775. In the last 24-HOUR, the price spiked up by 1.81%.

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