Ontology’s (ONT) circulating supply amount of 65.5% (655,000,000 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.
Below is ONT’s distribution proportions with the unlocked amounts in brackets:
Ontology Community: 12% (unlocked 12%)
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 14%)
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 their own contract and signs an NDA.
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%.
NEO Council: 10% (unlocked 10%)
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 to 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 12%)
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 10%)
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.
June 3rd, 2019: The unlocked amount for the Ontology core team was updated to 7.5%.
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 which 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.”