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10 million ONT tokens were sent to NEO users | CryptoNews

This weekend, the Board of NEO Global Development (NGD) kicked off the second stage of the airdrop (release) of Ontology tokens (ONT), spread out among the headlines of NEO tokens. The delivery corresponds to 10 million ONT tokens, equivalent to about 37.6 million dollars (at the time this note is made), and is aimed at the selected users who received the first half in March of this year.

In the month of February it was known that the NEO Council received control of 10% of the ONT tokens, as part of the redistribution that Ontology carried out in the framework of the launch of its own blockchain network. This portion corresponds to 100 million ONT tokens, of which 20 million would be distributed as a gift among NEO investors as announced on the official NGD blog.

At that time it was announced that for each NEO would be delivered 0.2 ONT of which each holder would receive 0.1 ONT (50%) of free trade, in a first stage. This process was carried out, taking as a cutoff point on March 1, 2018, at 5:00 a.m. (Pacific Time). The remaining 50% (0.1 ONT) was blocked until the launch of the new Ontology main network, which was finalized on June 30.

The first portion of ONT corresponded to NEP-5 tokens and therefore the benefited users must make the symbolic exchange for the native tokens of the new Ontology blockchain, before October 1st. However, the second stage of airdrop corresponding to the blocked tokens, which started on July 7, will be carried out directly on the new main network. In this sense, on the NEO website it was explained to the users that the additional ONT tokens will not be sent to their NEO address, but to one in the Ontology network which will have the same public address, private key and WIF that they use in NEO.

Additionally, Ontology reported that, unlike the NEP-5 ONT tokens, the new native tokens are indivisible, which will limit both the swap as the second part of the NEO Council reward to entire figures. That is, if the user received 5.5 ONT for the first portion of airdrop he will receive only 5 ONT in the second portion.

Ontology and NEO are blockchain public infrastructure protocols, which emerged from Onchain, a technology company based in Shanghai. Ontology noted in its blog that it decided to deliver a portion of its tokens to the NEO Council in order to achieve the relevant cooperation, because it is an important technology and ecosystem partner.

Featured Image by Fantasista / stock.adobe.com

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