Ontology (ONT) is preparing for its mainnet launch at the end of June, with a market price about halfway down its peak prices. The token swap may prove to be a measure for the project’s preparedness.
Immediately, scam threats increased, with emails spreading on behalf of the Ontology team. Owners of ONT are urged to only look at the project’s official social media for updates.
https://twitter.com/OntologyNetwork/status/1012275201696919552
The swap would be possible through the wallet of O3 Labs, which will support Ontology on its new blockchain. For now, ONT owners will have plenty of time to transform their digital assets. The Ontology network will first release the mainnet, and later allow for multiple ways to transform the NEP-5 tokens. The O3 wallet is just one way:
https://twitter.com/O3_Labs/status/1012239504537600000
The other way would be to use the ONTO tool to map the NEO-based tokens. The third way is to hold ONT on exchanges. After the token swap, the network will have a two-token model, similar to NEO and GAS. Periodically, owning ONT tokens will generate ONG rewards.
The ONT digital asset is preserving most of its gains reasonably well, though it has distanced itself from peak prices. ONT slid slightly to $5.25, but it must be noted the price is down just around 20% in Bitcoin denomination, and ONT is in fact quite strong against the leading coin.
One of the reasons is that Binance has elected ONT as one of its “elite” coins, assigning a pairing with Tether (USDT). Not all newly listed coins on Binance have this pairing, and many go on to lose value due to their pairings with other assets. Not so with ONT, which sees most of its volumes on the Binance markets. More than 60% of ONT trades are against the USDT, for a significant unpairing from Bitcoin positions. Traders may also think of ONT intuitively in dollar terms.
!ONT!
But Ontology is, right now, one of the more promising upcoming platforms, offering both regular crypto returns, but also the building of a distributed app ecosystem. While the bear market continues, most platform coins have gone on to appreciate sharply once their ecosystem is completed. ONT is seen as potentially achieving the distribution and trading popularity of NEO, or QTUM.
This article appeared first on Cryptovest
