Everything you need to know about ONG
*Updated on July 27, 2021
What is ONG?
Ontology uses a dual token (ONT and ONG) model.
- ONT is used as the staking tool and the time, cost of staking and operating costs of the nodes are considered to be inputs.
- ONG is used as a value-anchoring tool for on-chain applications and is used in the transactions on the chain.
Each transaction on the Ontology blockchain currently costs 0.05 ONG.
Where can I buy, sell, and store ONG?
You can find all available markets for ONG at CoinMarketCap or CoinGecko, and store your ONG via our ONTO Wallet, ONTO Web Wallet or OWallet.
I have ONT, how can I get ONG?
You can earn ONG rewards via ONT staking either as a node or staker. Visit node.ont.io for more instructions on how to run an Ontology node or have access to our node & staking yield calculator.
Feel free to check out the ultimate Ontology Staking Guide for more details.
Or simply swap ONT to ONG using ONTO Wallet.
ONG Releasing Curve
After the launch of the new governance and staking economy model, ONG unbinding model was cancelled. The annual ONG releasing speed per block will follow a new releasing curve and witness a significant decline from Year 3 onwards. Currently, 1 ONG is released per block.
Block Time: 1 Second
TestNet ONG
Developers can request for free TestNet ONG (and ONT) here.
Are you a developer? Make sure you have joined our tech community on Discord. Also, take a look at the Developer Center on our website, there you can find developer tools, documentation, and more.
Want more Ontology?
Learn more about our decentralized data and identity solutions on our website and official Twitter account. You can also chat with us on Telegram and keep up-to-date with the latest news via our Telegram Announcement account.
