Nick Chong · 1 week ago · 2 min read · Insights via Grayscale Investments
On July 9th, 2018 those who held NEO on March 1st, will receive their share of the second, ten million Ontology token airdrop. The first ten million ONT airdrop on March 8th rewarded users with 0.1 ONT per NEO held. Like the first airdrop, this one will again dispense 0.1 ONT per NEO to holders.
Valued at around $4.30 per token, the twenty million ONT dropped represents a total value of $86 million.
July 9th is also the beginning of Ontology’s token migration. Although originally built on the NEO network, with the successful launch of the Ontology MainNet, “Ontology 1.0” on July 1st, users must now move their tokens over to Ontology’s blockchain.
Other projects that also recently had a token migration include EOS and Tron.
Airdropping tokens close to the mainnet launch is an effective way to raise awareness for the project and can also be used for increasing popularity and capital.
Sending 0.2 ONT to NEO’s much larger and robust community clearly demonstrates ONT’s hopes of attracting some of the NEO’s community. Ontology founder Li Jun stated that the two public blockchain protocols were in “technical cooperation.”
If a portion of those airdropped users ultimately does end up becoming ONT users, this also increases the value of the team’s reserves.
Free, airdropped tokens are great for users but the SEC is carefully scrutinizing the distribution to determine whether or not they are security transactions.
Regarding the mainnet launch, according to the Ontology team, some of the features and highlights of “Ontology 1.0” include:
- The first version of the core chain reaching over 5000 tps without enhancement.
- SmartX, a smart contract tool that can be used to compile, deploy and invoke smart contracts.
- Security of Ontology’s nodes through the partnership with NCC, Baimaohui, and Slowmist.