What is the issuance and circulation of Ontology Coin?

The Issuance and Circulation of Ontology Coin

Ontology (ONT) is a high-performance, public blockchain platform that supports smart contracts, decentralized applications (dApps), and digital asset management. It was launched in 2017 by OnChain, a Chinese company founded by Li Jun and Da Hongfei.

As of April 2023, the Ontology blockchain has over 2,000 nodes around the world and over 100 dApps running on the platform. ONT is the native cryptocurrency of the Ontology blockchain, and it is used to pay for transaction fees, smart contract execution, and other services on the platform.

Issuance of ONT

The total supply of ONT is 1,000,000,000 coins. The coins were issued in two phases:

• Phase 1: 500,000,000 ONT were sold in a public token sale in June 2017. The tokens were sold for $0.07 each, and the sale raised a total of $35,000,000.

• Phase 2: The remaining 500,000,000 ONT were distributed as follows:

  • 30% to the Ontology Foundation, to be used for research and development of the platform.
  • 20% to the Ontology team, as compensation for their work.
  • 20% to early adopters of the platform, including investors and community members.
  • 20% for marketing and promotion of the platform.

Circulation of ONT

The circulating supply of ONT is approximately 800,000,000 coins. The remaining 200,000,000 coins are held by the Ontology Foundation and the Ontology team, and they are not currently in circulation.

ONT is traded on a variety of cryptocurrency exchanges, including Binance, Huobi, and OKEx. The price of ONT has fluctuated significantly since its launch, but it has generally trended upwards over time.

Conclusion

Ontology Coin (ONT) is a digital asset that is used to pay for transaction fees, smart contract execution, and other services on the Ontology blockchain. The total supply of ONT is 1,000,000,000 coins, and the circulating supply is approximately 800,000,000 coins. ONT is traded on a variety of cryptocurrency exchanges, and the price of ONT has fluctuated significantly since its launch, but it has generally trended upwards over time.