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 announced that after the MainNet swap of Ontology Symbol (ONT) which is arranged for July 4, symbols of the users will certainly be automatically transferred to the brand-new MainNet.

The electronic property exchange was founded in 2014 by OKCoin CEO Celebrity Xu. The exchange declares to provide “thousands of token and futures trading pairs to assist traders maximize their strategy” and also to have actually “acquired numerous dollars’ well worth of financial investments from leading ventures”. Its head office is 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 certainly be educated later on. The resumption time will likewise be announced later on. OKEx advised the customers that trading digital properties include substantial risk and it could cause loss of invested resources.

They even more pointed out that customers need to fully recognize the danger entailed. It is necessary to take into consideration the level of experience, investment objectives and seek independent financial advice if needed. Ontology MainNet obtained released on June 30, 2018. The Network tweeted: “Ontology 1.0 is now live. Welcome to the brand-new globe”.

See also: OKEX: Cybersecurity Company has found a loophole in UDST deposit

Ontology’s two-token model

The blockchain is known for its two-token version. The model was started for taking care of a double token system. The said tokens can be used for trading, saving network, sending and achieving electronic contracts. One of the symbols (ONT) is specifically made for administration, whereas the other one (ONG) is an utility token. The ONT owners can likewise utilize it for voting 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 reviewed the major use-cases of it in reality. ONT saw an incredible surge of 13.47% in its cost, a day prior to the event. Currently, ONT is trading at $5.13, with a market cap of $775. In the last 24-HOUR, the cost increased up by 1.81%.

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