Bittrex Global listing of Ontology [ONT] and support for the Ontology Gas [ONG] unbinding for ONT holders

Ontology (ONT) is a dual-token blockchain platform that was originally airdropped to NEO (NEO) holders in 2018.

The ONT wallets and market will be opened on March 12, 2019. Within the following days, Bittrex Global will distribute ONT to NEO holders on record as of March 31, 2018. After the initial distribution of ONT, Bittrex Global will distribute unbound Ontology Gas (ONG) to ONT holders on a monthly basis, by the 15th day of each month (or the next business day).

Initial Ontology (ONT) distribution

Ontology (ONT) tokens were distributed as an airdrop to NEO holders based on a snapshot of the NEO blockchain on March 1st, 2018 at block height of the snapshot is 1,974,823.

If you had a NEO balance during the March 1, 2018 snapshot, you will be credited 0.2 ONT tokens for every 1 NEO token you held during that time. NEO held on orders will also be credited. Only balances of greater than or equal to 5 NEO will be eligible to receive the initial ONT token distribution.

Monthly Ontology Gas (ONG) distribution

Bittrex Global will start calculating the monthly ONG distribution from March 14, 2019, with the first distribution occurring on or before April 14, 2019.

The monthly ONG unbinding calculation is as follows:

Daily ONG generated by each user = Daily ONG generated by Bittrex Global * Daily User ONT holdings ratio1

1Daily user ONT holdings ratio = Daily User ONT holdings / Total ONT held on Bittrex Global

We will distribute the unbound monthly ONG tokens on or before the 15th day of each coming month, or by the next business day. The tokens will be automatically credited to your Bittrex Global account if your calculated credit is 1 ONG or greater.

The monthly distribution schedule is based on Ontology's unbinding curve.

Note: If any ONT deposits you had sent to Bittrex Global are not settled (i.e. marked as pending), you may not be eligible for the monthly ONG distribution. Users that have a daily balance of less than 1 ONT will not be eligible for the monthly ONG distribution.

Note: At this time, both ONT and ONG are not available to customers from the USA.

 

Further information:

Everything you need to know about ONG

 

UPDATE 6/10/2019: Set amount of ONG required for crediting to 1 ONG.

UPDATE 8/23/2019: Amended airdrop timing to the 15th of each month or the next business day.

Update 7/7/2020: With the launch of Ontology 2.0, the Ontology Governance and Staking Economic Model has changed and as of July 7, 2020 Ontology has ended their distribution of ONG for nonzero ONT balances. Due to this change Bittrex Global will no longer be distributing ONG to ONT holders. Details: https://medium.com/ontologynetwork/continuing-to-refine-ontologys-governance-and-staking-economic-model-4c0c9cce1f51 

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