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, tokens of the users will be instantly moved to the brand-new MainNet.

The digital asset exchange was founded in 2014 by OKCoin CEO Celebrity Xu. The exchange declares to supply “hundreds of token and futures trading sets to help traders maximize their technique” as well as to have actually “obtained millions of dollars’ worth of financial investments from leading business”. Its head office remains in Hong Kong.

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

OKEx notified that ONT withdrawal is now suspended. The suspension time of the deposition of ONT will certainly be informed later. The resumption time will also be announced later. OKEx alerted the customers that trading digital assets entail significant threat and it could lead to loss of spent capital.

They further pointed out that individuals ought to totally understand the threat included. It is important to take into consideration the level of experience, financial investment purposes as well as look for independent economic recommendations if required. Ontology MainNet got launched on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently 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 version. The model was started for handling a dual token system. The stated symbols can be utilized for trading, saving network, sending and accomplishing digital agreements. One of the tokens (ONT) is specifically made for administration, whereas the various other one (ONG) is an energy token. The ONT owners can additionally use it for voting on the crypto exchange system.

Ontology (ONT) Market Performance

The MainNet pre-launch occasion occurred on June 26 where together with its companions, it talked about the major use-cases of it in the real world. ONT saw a remarkable rise of 13.47% in its price, a day prior to the event. Currently, ONT is trading at $5.13, with a market cap of $775. In the last 24 hours, the cost spiked up by 1.81%.

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