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What is the issuance price of ONDO coins?
ONDO coins, utilized in the decentralized data oracle platform ONDO, boast an issuance price of $0.0073, empowering developers with access to reliable off-chain data.
Dec 02, 2024 at 12:02 pm
What is the Issuance Price of ONDO Coins?
ONDO is a decentralized data oracle platform that empowers developers with access to reliable and verifiable off-chain data. The platform utilizes a hybrid consensus mechanism that combines Proof-of-Stake with a unique Proof-of-Accuracy protocol, ensuring data integrity and security. ONDO coins are the native utility token of the platform, facilitating data requests, validator rewards, and governance participation.
Issuance Price of ONDO Coins:
$0.0073
Key Features of the ONDO Coin:
- Utility Token: ONDO coins are used to pay for data requests, validator rewards, and governance participation.
- Proof-of-Accuracy: Validators must stake ONDO coins to participate in the consensus process and verify data accuracy. Inaccurate data reporting can result in staking penalties.
- Data Staking: Data providers can stake their native tokens to provide verified data to the platform. Users can access staked data for a fee, which is distributed to the data providers.
- Governance: ONDO coin holders can participate in governance decisions through the platform's DAO (Decentralized Autonomous Organization). Holders can vote on proposals related to platform development, data quality standards, and tokenomics.
Steps to Acquire ONDO Coins:
- Create a Cryptocurrency Wallet: Choose a reputable cryptocurrency wallet that supports the Binance Smart Chain (BSC), such as MetaMask or Trust Wallet.
- Acquire BNB: Purchase BNB coins from a cryptocurrency exchange, such as Binance or Coinbase. BNB is the native token of Binance Smart Chain and is used to pay transaction fees.
- Connect Wallet to DEX: Visit a decentralized exchange (DEX) that supports ONDO coins, such as PancakeSwap or ApeSwap. Connect your cryptocurrency wallet to the DEX.
- Swap BNB for ONDO: Navigate to the trading pair (e.g., BNB/ONDO) and enter the desired amount of BNB you want to exchange for ONDO coins. Click the "Swap" button to confirm the transaction.
- Receive ONDO Coins: The swapped ONDO coins will be transferred to your connected cryptocurrency wallet.
Additional Information:
- Total Supply: 100,000,000 ONDO coins
- Circulating Supply: 47,297,464 ONDO coins (as of January 2023)
- Consensus Mechanism: Hybrid Proof-of-Stake and Proof-of-Accuracy
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