Ontology Announces MainNet Launch by June-end

Ontology Announces MainNet Launch by June-end

Ontology announced their MainNet launch, which will go live by the end of June 2018. This launch will allow their users to exchange NEP-5 ONT for ONT on the MainNet.

Binance also showed support for Ontology’s token swap on twitter.

Ontology uses a dual token [ONT and ONG] model. Previously ONT was an NEP-5 token and does not release ONG but with this launch, users will be able to exchange  NEP-5 ONT for ONT on the MainNet which will start releasing ONG periodically.

All NEP-5 ONT must complete mapping to migrate to the Ontology MaInNet. The company has provided enough time for their users to swap their tokens,

There will be two mapping techniques used i.e Manual mapping and Automatic mapping technique.

Ontology tweeted:

The MainNet launch is scheduled on 30th June 2018.

In response to one of the tweets by a user Ontology also mentioned that they are currently exploring solutions for the migration of cold wallets users.

ONT is trading at the price of $8.09 with a market cap of $1.2 billion. The coin has seen a fall of 2.06% in the past 1 hour but the weekly cap is running green with a rise of 14.28%

It has become the first blockchain project from China to join the Decentralized Identity Foundation, which aims to build a standardized decentralized ecosystem for online identities. Also, it has been involved in ISO/IEC TC307 and CBD Forum’s blockchain open source project.

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