How To Get Your First ONG
This guide was prepared by your Telegram admin & Ontology Harbinger, Dumont.
I decided to create this guide to ensure that everybody knows how to obtain ONG without asking for donations. We have an awesome community which is always helpful to those in need, but requests for ONG encourage spam that harms our community chats and threads. Some users also expose their wallet addresses. Wherever you are based, there is a way to get your first ONG, so let’s dive in!
First, let’s recap Ontology’s dual token model:
The Ontology dual-token design uses ONT for staking and ONG as gas. ONT is used as the staking tool, and the time cost of staking and the operating costs of the nodes are considered to be inputs, with ONG distributed as revenue. ONG is the utility token used as a value anchoring tool for on-chain applications (source).
In short, you can get ONG as a reward for staking ONT. However, you also need 0.05 ONG per transaction on Ontology’s chain. The same goes for staking or claiming staking rewards. So the question you might be asking yourself is, “Where do I get my first ONG tokens to start staking or to just move my stuck ONT tokens?”
Where to get ONG?
1. Centralized Exchanges (easiest)
You can always check available markets at coinmarketcap or coingecko, but the most popular option is definitely Binance. With Binance, you can buy any amount of ONG and withdraw it to your wallet with only a 0.1 ONG withdrawal fee. Binance does not require KYC and for unverified accounts offers a 2 BTC daily withdrawal limit. The easiest method is to deposit some crypto (listed on Binance) and trade it for ONG.
If you cannot access a centralized ONG market due to your geographical location, see the alternative methods below.
2. ONTO Wallet (easy)
(This solution is good for users who are unable to buy ONG at centralized exchanges but can buy and withdraw ONT)
ONTO is the official Ontology mobile wallet which has a built-in swap function enabling users to swap ONT for ONG without paying gas fees. It was designed specially for users who have ONT but run out of ONG. A step-by-step guide on how to perform this swap can be found here. To learn how to download, install, and set-up your ONTO wallet, click here.
How to send your ONT tokens to ONTO if you store them elsewhere:
a) If you have ONT tokens on an exchange, withdraw them to your ONTO wallet (On the Assets page, click on ONG, press Receive and copy the address)
b) If you have ONT tokens in a third party, non-custodial wallet such as Trust wallet, export your mnemonic phrase or private key and import it into ONTO.
To import the address, install ONTO and create a new ONT ID wallet first. Once you have your wallet set-up, click in the upper right corner on your profile picture, select Manage wallets and then at the bottom press +Add new wallet and then Import wallet. In the Import wallet window select Import other wallet and from the list select ONT Wallet. It will show you all of the supported import options.
c) If you struggle to import your third party wallet to ONTO, you can still use option a) workaround, just buy some ONT on any exchange you can access and withdraw it to your ONTO wallet. Then swap 1–10 ONT for ONG and send them from ONTO to your third party wallet. This workaround is valid also for US based users who can, for instance, use binance.us to buy and withdraw ONT to ONTO wallet.
3. Other wallet swaps (easy)
Exodus wallet currently offers ONG swaps. Unfortunately, it seems that the value of each swap has to be at least approximately $215. You cannot use an Exodus mnemonic phrase to import to ONTO, it will result in a different wallet address.
Atomic wallet should have available ONG swap pairs currently, so you can use this wallet to get some ONG as well. The minimum swap value is $15. You will need to create a new wallet and deposit some assets which can be swapped for ONG.
4. Decentralized approach via ONTO + ApeSwap (easy)
ApeSwap has recently listed ONG (BSC version) at their exchange. In case you have Binance Smart Chain BNB or other BSC assets, you can swap them via ApeSwap to ONG. You will find the dApp inside ONTO. Once you have ONG tokens (BSC version), you can swap them inside ONTO wallet to native tokens. Simply go to “Market” page and select the ONG (BSC) to ONG (Ontology) pair and sign the swap transaction.
5. Decentralized approach via ApeSwap or PancakeSwap (hard)
(This solution is a good option if you have Binance Smart Chain BNB. You can use it to buy ONT in a decentralized way, which you can then swap for ONG inside ONTO wallet)
Currently you cannot directly trade ONG on BSC (Binance Smart Chain), but you can get ONT which you can then swap to ONG within your ONTO wallet, based on the steps described above. If you are familiar with BSC’s ecosystem, it should be easy for you. All you need is a multi-token wallet app which supports BSC and ONT, such as ONTO. Create a new wallet if you don’t have one already and deposit some BNB (BSC). Then open ApeSwap or PancakeSwap (based on your preference or available liquidity). Here, you can trade BNB for ONT (BSC version). ONT (BSC version) can then be swapped to native ONT via Binance Bridge.
You can locate both ApeSwap, PancakeSwap and Binance Bridge, inside ONTO wallet on the Discovery page. Binance Bridge’s smallest ONT chain swap is 3 ONT (with a 1 ONT swap fee).
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