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 Token (ONT) which is set up for July 4, symbols of the customers will be instantly transferred to the brand-new MainNet.

The electronic property exchange was founded in 2014 by OKCoin CEO Celebrity Xu. The exchange claims to supply “thousands of token and futures trading pairs in order to help traders maximize their method” and also to have “gained millions of bucks’ well worth of investments from leading business”. Its headquarters remains in Hong Kong.
OKEx educated that ONT withdrawal is currently put on hold. The suspension time of the deposition of ONT will certainly be notified later on. The resumption time will certainly also be revealed later. OKEx cautioned the users that trading electronic properties involve considerable danger and it could result in loss of spent resources.

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

They additionally mentioned that customers ought to completely recognize the risk included. It is necessary to think about the degree of experience, financial investment goals and also seek independent financial guidance if called for. Ontology MainNet got introduced on June 30, 2018. The Network tweeted: “Ontology 1.0 is now live. Thanks for visiting the brand-new world”.

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 design was started for managing a double token system. The said symbols can be utilized for trading, storing network, sending and completing digital agreements. Among the tokens (ONT) is particularly created for administration, whereas the other one (ONG) is an energy token. The ONT owners could likewise use it for voting on the crypto exchange system.

Ontology (ONT) Market Performance

The MainNet pre-launch event happened on June 26 where along with its companions, it went over the major use-cases of it in real life. ONT saw a remarkable surge of 13.47% in its price, 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 spiked up by 1.81%.

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