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Ontology [ONT] up by 13.47% – One day before MainNet pre-launch

Ranjitha Shastry

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source: Unsplash

The Ontology community is holding their “MainNet pre-launch” in San-Franciso tomorrow. A few weeks back, Ontology had announced that their MainNet will go live by the end of June 2018 [June 30th]. Its said that after the release, all NEP-5 ONT must complete mapping to migrate to the Ontology MainNet.

Ontology mainnet announcement | Source: Twitter

Ontology mainnet announcement | Source: Twitter

With that said, Ontology, at the time of writing, has also seen a rise of 13.47% in the last 24 hours with the price of $5.21 and a market cap of $787 million. Ontology saw an all-time high on June 7th, 2018, trading at $8.69 and a market cap of $1.3 billion. Post that high-price, it came crashing down to $5.83 on June 13th, 2018.

Ontology price history [1 month] | Source: Twitter

Ontology price history [1 month] | Source: Twitter

With regard to the MainNet, Ontology’s Medium page read:

“Ontology’s MainNet will go live on June 30th, 2018. After the release, all NEP-5 ONT must complete mapping to migrate to the Ontology MainNet. Ontology will soon publish the start time and full plan. The mapping duration will be three months, leaving everyone with plenty of time to complete mapping.”

Ontology token swap update | Source: Twitter

Ontology token swap update | Source: Twitter

Ontology also updated their token swap guidelines, which is subjected to change once the mainnet is launched. They have featured two types of mapping methods:

  • Automatic mapping: Traders who choose this are instructed to wit until the official notices from supporting exchanges are out on how to undergo mapping.
  • Manual method: Manual can be done using NEO wallet and ONTO.

Ontology’s Medium page mentions:

“Make sure you send ONT from your wallet, if you send another asset to the mapping address you will have no way to recover. Since MainNet ONT is indivisible (smallest unit 1 ONT), only whole numbers of NEP-5 ONT can be mapped. If you have smaller units of NEP-5 we recommend you make your ONT a whole number before mapping.”

chino0823, a Twitter user commented:

“one of these days, (on the 30th) bam, zoom pow, straight to the moon we go!!”



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Ranjitha Shastry is a part of AMBCrypto's News Reporting Team. Having done her major in Journalism and mass communication, she is passionate about business and economic journalism.

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