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What is the issue price and issuance volume of Ontology Coin?
Ontology Coin (ONG), issued at $0.50 during its ICO in 2018, has an issuance volume capped at 1 billion ONG, with 60% allocated to ICO participants, 20% to the Ontology Foundation, and 20% distributed through partnerships and community programs
Nov 21, 2024 at 07:53 am
What is the Issue Price and Issuance Volume of Ontology Coin?
Introduction
Ontology, a high-throughput public blockchain, aims to provide a decentralized trust infrastructure for businesses and individuals. Its native token, Ontology Gas (ONG), plays a pivotal role in the Ontology ecosystem and has witnessed significant growth since its launch. This article delves into the issue price, issuance volume, and other key aspects of Ontology Coin, shedding light on its value proposition and market performance.
Issue Price
- Ontology Coin (ONG) was initially issued through an Initial Coin Offering (ICO) held in June 2018.
- The ICO raised approximately $40 million, with 1 ONG being sold for $0.50.
- The issue price of ONG was set to attract early investors and provide a foundation for its future growth.
Issuance Volume
- The total issuance volume of Ontology Coin is capped at 1 billion ONG.
- Out of this supply, 600 million ONG were issued during the ICO.
- The remaining 400 million ONG are gradually released through staking rewards and other mechanisms.
Early Token Distribution
- 60% of the total ONG supply (600 million ONG) was allocated to ICO participants.
- 20% (200 million ONG) was reserved for the Ontology Foundation, which oversees the development and governance of the platform.
- The remaining 20% (200 million ONG) was distributed to partners, advisors, and the community through various programs.
Token Use Cases
- ONG serves as the primary utility token within the Ontology ecosystem.
It is used to:
- Pay for transaction fees on the Ontology blockchain.
- Stake to earn rewards and participate in governance.
- Access premium services and features within the Ontology ecosystem.
Market Performance
- Ontology Coin has experienced significant price fluctuations since its launch.
- The value of ONG initially surged after the ICO, reaching an all-time high of over $25 in 2018.
- However, like many cryptocurrencies, it faced a downturn in the subsequent bear market, dropping to around $0.50 in 2019.
- Since then, ONG has gradually recovered, trading in the range of $1-$2 as of 2023.
Current Value Proposition
- Ontology Coin remains a valuable asset within the Ontology ecosystem due to its utility and staking rewards.
- Its use as a gas token for transactions and its role in governance make it essential for users of the Ontology blockchain.
- Staking ONG generates a passive income for holders and allows them to participate in network security and decision-making.
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