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 revealed that after the MainNet swap of Ontology Token (ONT) which is set up for July 4, tokens of the users will certainly be immediately moved to the new MainNet.

The digital possession exchange was founded in 2014 by OKCoin Chief Executive Officer Celebrity Xu. The exchange asserts to offer “hundreds of token and futures trading sets to help investors enhance their technique” as well as to have actually “gained numerous bucks’ worth of financial investments from leading enterprises”. 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 be informed later on. The resumption time will additionally be announced later. OKEx cautioned the customers that trading electronic assets include substantial threat and it can cause loss of spent funding.

They even more stated that customers ought to completely recognize the threat involved. It is essential to consider the level of experience, investment purposes and also seek independent economic guidance if required. Ontology MainNet got introduced on June 30, 2018. The Network tweeted: “Ontology 1.0 is currently live. Thanks for visiting the brand-new world”.

Ontology’s two-token design

The blockchain is recognized for its two-token model. The model was started for handling a dual token system. The claimed symbols can be used for trading, storing network, sending out as well as accomplishing digital agreements. Among the tokens (ONT) is especially designed for administration, whereas the various other one (ONG) is an energy token. The ONT owners could likewise use it for voting on the crypto exchange platform.

Ontology (ONT) Market Efficiency

The MainNet pre-launch occasion happened on June 26 where together with its companions, it reviewed the primary use-cases of it in reality. ONT saw an incredible surge of 13.47% in its price, a day prior to the event. Presently, ONT is trading at $5.13, with a market cap of $775. In the last 1 Day, 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 Penguincoinforum.

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