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, tokens of the individuals will certainly be immediately moved to the new MainNet.

The electronic property exchange was founded in 2014 by OKCoin Chief Executive Officer Celebrity Xu. The exchange asserts to provide “thousands of token as well as futures trading sets in order to help traders enhance their strategy” and to have actually “gotten millions of dollars’ worth of financial investments from leading business”. Its headquarters is in Hong Kong.

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

OKEx educated that ONT withdrawal is currently put on hold. The suspension time of the deposition of ONT will be notified later. The resumption time will certainly additionally be introduced later on. OKEx alerted the customers that trading electronic possessions include significant risk and it can cause loss of spent funding.

They even more mentioned that customers need to completely comprehend the risk entailed. It is necessary to think about the degree of experience, financial investment objectives and also look for independent financial suggestions if needed. Ontology MainNet obtained introduced on June 30, 2018. The Network tweeted: “Ontology 1.0 is now 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 recognized for its two-token design. The version was started for managing a double token system. The claimed symbols can be utilized for trading, saving network, sending out and accomplishing electronic agreements. One of the symbols (ONT) is particularly made for administration, whereas the various other one (ONG) is an utility token. The ONT owners can additionally utilize it for electing on the crypto exchange platform.

Ontology (ONT) Market Performance

The MainNet pre-launch occasion took place on June 26 where in addition to its partners, it went over the major use-cases of it in the real world. 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 rate increased up by 1.81%.

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