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 Symbol (ONT) which is arranged for July 4, symbols of the individuals will certainly be immediately moved to the new MainNet.

The digital possession exchange was founded in 2014 by OKCoin Chief Executive Officer Star Xu. The exchange declares to offer “hundreds of token and also futures trading sets in order to help traders maximize their method” as well as to have actually “obtained millions of bucks’ well worth of investments from leading ventures”. Its head office remains in Hong Kong.

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

OKEx informed that ONT withdrawal is currently suspended. The suspension time of the deposition of ONT will be informed later on. The resumption time will certainly likewise be announced later on. OKEx cautioned the users that trading electronic possessions entail considerable risk and also it can lead to loss of invested capital.

They better mentioned that customers need to totally recognize the danger involved. It is necessary to consider the degree of experience, financial investment objectives and look for independent economic advice if called for. Ontology MainNet got introduced on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently live. Welcome to the new globe”.

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

Ontology’s two-token model

The blockchain is recognized for its two-token version. The model was begun for taking care of a dual token system. The claimed symbols can be made use of for trading, keeping network, sending out and also achieving electronic agreements. One of the symbols (ONT) is particularly made for governance, whereas the other one (ONG) is an utility token. The ONT owners can additionally utilize it for electing on the crypto exchange system.

Ontology (ONT) Market Efficiency

The MainNet pre-launch event happened on June 26 where together with its partners, it discussed the main use-cases of it in real life. ONT saw a remarkable surge of 13.47% in its price, a day prior to the occasion. Presently, ONT is trading at $5.13, with a market cap of $775. In the last 1 Day, the price surged up by 1.81%.


A mechanical engineer turned journalist, Shekar takes a keen interest in the study and analysis of cryptocurrencies and blockchain strategy. With the cryptocurrency world blooming in the recent days, he finds great interest in monitoring their growth and gathering every possible piece of information about them. He works as a crypto-journalist for the website 1Bigbitcointeam.

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