Ontology’s (ONT) Token Distribution and Lock Periods

The Ontology Team
Mar 12, 2018 · 5 min read

Ontology’s (ONT) circulating supply amount of 38.1539276 % (381,539,276 ONT) refers to all ONT without lock periods (ONT that can be transferred, but not necessary ONT that can be traded at the moment). For example, the community portion is unlocked ready for distribution in community events.

We will continue to update information in this same article.

Newly updated on Septmeber 25th, 2020

We have updated all figures in align with the exact unlocked amount except for the Ontology Core team remains unchanged.

Below is ONT’s distribution proportions with the unlocked amounts in brackets:

Ontology Community: 12% (unlocked 5.891159%)

Giving back to the community is important for Ontology. This portion will be given back to the community through various events for different scenarios within Ontology.

Around 2% of this portion has already been used in past airdrops. The remaining amount will be used for online and offline community events over time. We will notify the community in advance of any airdrop events.

Co-Builders (institutional partners): 28% (unlocked 16.3658888%)

Ontology is a platform closely related to real-world institutions and businesses which will continue to be important supporters of the ecosystem throughout its growth.

The remaining unlocked amount will be unlocked over the next two years. A certain amount will be unlocked each half-year and all institutional co-builders will strictly follow two-year unlock rules without exception. Ontology will screen its co-builders and control the proportion strictly; even for the most important co-builders, the proportion is only 1–2%. For many co-builders, their allocation is less than 1%. Each co-builder has its own contract and signs an NDA.

Update history:

September 26th, 2018: The second round of the co-builder evaluation has been completed and 5% of this portion was unlocked and will be distributed within a month.

December 17th, 2018: According to proportional unlocking every six months, the unlocked amount was updated to 14%.

January 13th, 2020: We made an announcement on the Telegram announcement channel that based on the 2019 Ontology’s co-builder evaluation, the Ontology Foundation has decided to unlock a total of 9,770,000 ONT incentives for outstanding co-builders. The incentives will be distributed in March 2020.

September 25th, 2020: The recent Ontology’s co-builder evaluation by the Ontology Foundation has seen strong supports from our ecosystem partners: Accomplice, Fosun Group, Tembusu Partner, and Fenbushi Capital, the Ontology Foundation has decided to unlock a total of 13,888,888 ONT incentives for outstanding co-builders. The incentive will be distributed in batches before September 30, 2020. Again, we would like to express our sincere gratitude to all our ecosystem partners for their continuous support dedicatd towards the Ontology trust ecosystem and we look forward to working hand in hand to achieve a brighter future.

October 8th, 2020: Our recent co-builder evaluation by the Ontology Foundation has seen incredible support from our ecosystem partners including: Sequoia Capital, Matrix Partners, IDG Capital, Frees Fund and Milestone Venture Capital. As a result, they have decided to unlock a total of 14,791,663 ONT as incentives to be distributed in batches before October 30th, 2020 for all the outstanding co-builders.

NEO Council: 10% (unlocked 3.968448%)

NEO is an important technology and ecosystem partner of Ontology, therefore Ontology will give a portion of the tokens to the NEO Council for relevant cooperation and support NEO community feedback.

Around 2% of this portion has already been used in a two-part airdrop for NEO holders; the remaining of this portion has not yet been distributed.

Ontology Ecosystem Development: 25% (unlocked 2.2901385%)

Ontology will use this portion of the tokens to continue to build various application services, promote the ecosystem, and secure strategic cooperation for expanding Ontology’s coverage and adoption.

Only a very small portion has been used for ecosystem development support; most of this portion has not yet been distributed.

Ontology Technical Community Reward: 10% (unlocked 2.1382933%)

Technology is a core resource of Ontology, therefore 10% of tokens will be reserved to reward the technical community for their feedback and contributions.

Only a very small portion has been used for technical community rewards; most of this portion has not yet been distributed.

Ontology Core Team: 15% (unlocked 7.5%)

Ontology is a huge ecosystem with a growing mature development team. This portion provides a long-term incentive for the team with yearly lock periods.

The remaining unlocked amount will be unlocked over the next four years. Ontology has one of the longest lock periods for its core team, showing the confidence the team has in the long-term development of the project. The majority of the unlocked team amount has not yet been distributed.

Update history:

June 3rd, 2019: The unlocked amount for the Ontology core team was updated to 7.5%.

July 24th, 2019: The Ontology core team announced the entire amount of unlocked ONT in 2019, or 37,500,000 ONT in total, is staked into the Triones consensus nodes, thus reducing the circulating supply.

April 17th, 2020: This May, Ontology will unlock another 3.75% of the Core Team tokens and allocate them all for staking activities. The unlocked amount will not be released to the market. The Ontology Foundation has a strong faith in the future development of Ontology and will continue its responsibility to maintain a sustainable, healthy and stable ecosystem development.

May 19th, 2020: As planned, Ontology has unlocked another 3.75% of the Core Team tokens and allocate them all for staking activities. The Ontology Foundation will not be receiving any staking rewards for the 3.75% of the Core Team tokens staked. This action will not affect the current staking returns for stakers. We will continue to maintain a sustainable, healthy and stable ecosystem development.

Transaction Details:

8ee8a73a574426682862fc7714acc6333147492ce54dd3a89b4599ea5d490eb8

84b24c79bacb20a8480a1c8de2421c7ac1c8e082cafb3969db0021d1b84b68dc

783df10de2e62fc5e7aa757c30f6f266a41042c33f3b7fea103573b0b9314bf1

67087cf038d60da36db2a8e56fc918ff57f87ab27b06793b71cba761e5bce545

1ce453ce1266673f5748ec90bab4ce29dd6f9a3c7c5cc102e86060dd83b219bb

About Ontology (ONT)

Ontology uses a dual token (ONT and ONG) model. ONT is a coin and can be used for staking in consensus, whereas ONG is a utility token used for on-chain services. ONT releases ONG periodically.

Ontology Token (also ONT) is a NEP-5 token that was used temporarily before the Ontology MainNet. Now the Ontology MainNet has been released, all NEP-5 ONT is currently undergoing token swap to the native ONT coin.

Why is there a discrepancy with Coin Market Cap?

Put simply, Coin Market Cap does not consider all unlocked tokens to be circulating supply. As they say on their website:

“Circulating Supply is the best approximation of the number of coins that are circulating in the market and in the general public’s hands.”

OntologyNetwork

A high performance, open-source blockchain specializing in digital identity and data.

The Ontology Team

Written by

Active project domain: https://ont.io/

OntologyNetwork

Ontology is a high performance, open source blockchain specializing in digital identity and data. ONTO: http://onto.app/downloadpage/TW Telegram: http://t.me/OntologyNetwork

The Ontology Team

Written by

Active project domain: https://ont.io/

OntologyNetwork

Ontology is a high performance, open source blockchain specializing in digital identity and data. ONTO: http://onto.app/downloadpage/TW Telegram: http://t.me/OntologyNetwork

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