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 Symbol (ONT) which is set up for July 4, symbols of the individuals will be instantly moved to the brand-new MainNet.

The digital property exchange was founded in 2014 by OKCoin CEO Star Xu. The exchange declares to supply “hundreds of token and futures trading pairs in order to help traders enhance their strategy” and also to have actually “acquired numerous dollars’ well worth of investments from leading enterprises”. Its headquarters remains in Hong Kong.

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

OKEx informed that ONT withdrawal is now put on hold. The suspension time of the deposition of ONT will be notified later. The resumption time will certainly additionally be introduced later. OKEx advised the users that trading digital assets include significant risk as well as it can cause loss of spent capital.

They further stated that individuals need to totally recognize the risk included. It is important to take into account the degree of experience, financial investment purposes and also seek independent monetary advice if required. Ontology MainNet obtained launched on June 30, 2018. The Network tweeted: “Ontology 1.0 is now live. Thanks for visiting the new globe”.

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

Ontology’s two-token design

The blockchain is known for its two-token version. The model was started for handling a dual token system. The said symbols can be made use of for trading, saving network, sending out and also completing digital contracts. One of the tokens (ONT) is particularly designed for administration, whereas the various other one (ONG) is an energy token. The ONT holders can additionally use it for electing on the crypto exchange platform.

Ontology (ONT) Market Efficiency

The MainNet pre-launch occasion occurred on June 26 where in addition to its partners, it reviewed the major use-cases of it in the real world. ONT saw an incredible surge of 13.47% in its rate, a day prior to the event. Presently, ONT is trading at $5.13, with a market cap of $775. In the last 24 Hr, the rate spiked 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 Ontologywiki.

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