What is Ontology (ONT)? Complete set of ONT cryptocurrency
Description of What is Ontology (ONT)? Complete set of ONT cryptocurrency
What is ontology? Find out all the details about ONT Coin's project highlights and tokenomics right here!
Today's article on Ontology and ONT coin will give you all the information about the outstanding features of ONT coin's project and tokenomic such as key metrics, distribution (allocation), application (use case) . From there, you can decide whether you should invest in ONT or not.
What is ontology?
Ontology is a high-performance Public Blockchain platform with the goal of building a Decentralized Trust ecosystem. The project was founded by Onchain company (founded by Dahong Fei and Erik Zhang) in November 2017. The Ontology Trust network is made up of 3 layers:
- Scenarios : Verify all user information.
- Modules & Protocol : After the information has been verified, it will be linked to this module class.
- Ontology Network Chains : This layer has a cross-chain function that allows different chains to connect to each other.
Highlights of Ontology
From 2021 onwards, Ontology has officially entered the DeFi market with many sub-projects, expanding in many different areas. This helps Ontology not to be limited by a certain field. In there:
- ONT ID : Verify identity.
- OSCORE : Credit.
- ONTO : Storage wallet.
- Wing : Lending platform.
- SAGA : Data management.
Detailed information about ONT coin
What is Ontology Coin (ONT)? What is Ontology Gas (ONG)?
Ontology will be operated by two types of tokens. In which Ontology Coin (ONT) is the native token of the project, and Ontology Gas (ONG) is the payment unit in the Ontology blockchain. More specific:
- Ontology Coin (ONT) : The cryptocurrency of the Ontology Blockchain. Initially, Ontology (ONT) ran on NEO 's Blockchain platform according to the NEP-5 token standard. However, after completing the Mainnet on June 30, 2018, ONT officially switched to running on Ontology's Blockchain platform.
- Ontology Gas (ONG) : A token that exists in parallel with ONT in Ontology's Blockchain network (because Ontology uses Dual-Token mechanism). Like GAS in Neo Blockchain, ONG is used to pay gas fees in Ontology Blockchain.
ONT rate today
Coin98 Markets is a page where you can update real-time prices as well as view detailed information about Token Metric of a certain project. In more detail, you can visit the homepage and community page of the projects or filter the coins/token by Marketcap, Transaction volume,...
Key Metrics ONT
- Token Name: Ontology.
- Ticker: ONT.
- Blockchain: Ontology Blockchain.
- Token Standard: Updating...
- Contract: 0xFd7B3A77848f1C2D67E05E54d78d174a0C850335
- Token Type: Utility.
- Total Supply: 1,000,000,000 ONT.
- Circulating Supply: 876,338,000 ONT (88/100%).
ONT Allocation
The total amount of ONT coins will be distributed as follows:
- Instituitional Partners: 28% - 280,000,000 ONT.
- Ontology Ecosystem: 25% - 250,000,000 ONT.
- Ontology Core Team: 15% - 150,000,000 ONT.
- Ontology Community: 12% - 120,000,000 ONT.
- NEO Council: 10% - 100,000,000 ONT.
- Community Rewards: 10% - 100,000,000 ONT.
ONT Dirty
Unlike other projects, Ontology does not hold an ICO but directly releases ONT coins to the market by Airdropping 1000 ONT to those who register early for their newsletter.
ONT Release Schedule
Ontology coin (ONT) will be released with the following plan:
- Ontology Core Team: Unlock 3.75% (15% total) per year for 4 years.
- Instituition Partner: Unlock 7% (28% total) every 6 months for 2 years.
ONT Use Case
Some applications of ONT coin are as follows:
- Provides liquidity for Ontology DeFi applications like Wing.
- Proposing and voting on Ontology platforms.
How to earn and own ONT coin
To own Ontology, you can buy ONT coins directly at exchanges such as Binance , Coinbase Bithumb, Huobi, Kucoin,... and many others.
Wallet & Exchange ONT coin
Instructions for storing ONT on Coin98 Wallet
Currently, you can store ONT tokens on Coin98 Wallet as BEP20 with the following simple steps.
- Step 1: At the main interface, select Receive .
- Step 2: Enter ONT in the search box.
- Step 3: Copy ONT wallet address and send ONT token to this address.
Instructions for trading ONT coins on Coin98 Exchange
You can now trade ONT coins right on Coin98 Exchange by following the steps below at: https://exchange.coin98.com/
Step 1: Connect the wallet via Coin98 Extension.
Step 2: At the main screen of Coin98 Exchange, select Pancake New .
Step 3: Select Coin to trade and fill in the necessary parameters for the transaction:
- Search ONT.
- If the search does not work, you can paste the contract of ONT in the search box: 0xFd7B3A77848f1C2D67E05E54d78d174a0C850335
- Enter the amount of coins you want to swap.
Step 4: Adjust Gwei gas and slippage according to demand.
In addition, you can also make ONT purchases on Coin98 Wallet with the same operations as above.
Roadmaps & Updates
Ontology has repeatedly changed its roadmap to match the market situation. Specifically, from 2020 onwards, Ontology will focus on developing the following products:
- Cross-chain (Relay Chain).
- VM (Virtual Host): Multi-VM and Wasm-JIT.
- Layer 2.
- Oracle.
- ONT ID/DDXF version 2.0, ONTFS.
- Support On-chain Voting.
Project team, investors, partners
Project team
Above is Ontology's project development team. You can find out details about each member through their LinkedIn channel.
Investors
Ontology is a project that has been invested by: OnChain, NEO, Zhenfund, Sequoia Cappital, Hashed, Tembusu Partner, BlockVC, IOSG Ventures, 8 Decimal Capital, JLAB, Eden Block, DHVC,... specific disclosure.
Partner
Over 3 years of operation in the market, Ontology has acquired many partners including DeFi applications, exchanges and wallets that support ONT blockchain. You can see the details in the picture above.
Similar projects
There are many blockchain platforms similar to Ontology on the market, such as:
- Born around 2017 - 2018: NEO , EOS , VeChain ,...
- Born around 2019 - 2020: Polkadot , Terra , Avalanche ,...
- Born around 2018 but with improvements: Binance Smart Chain , Cosmos ,...
summary
What do you think about the potential of ONT and the development of Ontology after this article? Please share your opinions in the comment section & join the Hay Mod Game group to discuss and exchange ideas with admins and many other brothers!
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