OKEx announces withdrawal suspension of Ontology token (ONT), MainNet swap in progress

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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 set up for July 4, tokens of the customers will be immediately transferred to the brand-new MainNet.

The digital asset exchange was founded in 2014 by OKCoin CEO Star Xu. The exchange claims to provide “numerous token as well as futures trading sets in order to help traders enhance their approach” and to have “gained numerous bucks’ well worth of investments from leading enterprises”. Its head office is in Hong Kong.

See additionally: Ontology (ONT) MainNet launch goes online, recognize even more concerning it

OKEx informed that ONT withdrawal is now put on hold. The suspension time of the deposition of ONT will be informed later on. The resumption time will certainly likewise be introduced later. OKEx alerted the customers that trading digital properties include significant threat and also it can cause loss of invested capital.

They better discussed that customers ought to fully understand the risk involved. It is necessary to take into account the level of experience, financial investment purposes as well as seek independent monetary suggestions if required. 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 design

The blockchain is recognized for its two-token version. The model was started for managing a dual token system. The said tokens can be utilized for trading, saving network, sending out and achieving electronic agreements. Among the symbols (ONT) is especially developed for governance, whereas the other one (ONG) is an utility token. The ONT owners could likewise utilize it for electing on the crypto exchange system.

Ontology (ONT) Market Efficiency

The MainNet pre-launch event took place on June 26 where in addition to its partners, it went over the main use-cases of it in real life. ONT saw a miraculous rise of 13.47% in its cost, a day prior to the event. Presently, ONT is trading at $5.13, with a market cap of $775. In the last 24-HOUR, the cost increased 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 bcfocus.

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