NEO Council to Distribute 20 Million Ontology Tokens (ONT) via Airdrop
NEO, known informally as the Chinese Ethereum, have recently announced that they will be distributing 20 million Ontology Tokens to the community via an airdrop that will begin on March 1st. The airdrop is a little more complicated than most and will be split into two parts, ending sometime during Q2 2018 – more on this below.
Ontology is a new infrastructure platform designed by Shanghai-based blockchain R & D company Onchain. The project is is aiming to build a decentralized trust network for applications including peer to peer data exchange, ID verification, data collaboration and more. NEO and Onchain are both heavily intertwined with one another, with the airdrop aiming to encourage a joint ecosystem and smooth integration of the two platforms.
How Many ONT Tokens will be Distributed?
- The Ontology team donated 20 million ONT to the NEO council, who took the decision to distribute them fairly via a community airdrop.
How Do I Register for the ONT Airdrop and When Will it Be?
- You do not need to register, all you need to do is own NEO and the ONT tokens will be airdropped to your NEO address. The snapshot of NEO addresses will occur at block height 1974823 – estimated around March 1st, so you need to own NEO before that date in order to receive ONT.
- 50% of tokens will be delivered in the weeks following March 1st, which will be freely tradeable. The other 50% will be locked until the second airdrop on the ONT mainnet in roughly Q2 2018, however it will still be based on the March 1st snapshot.
How Much ONT Will I Receive?
- Users will be airdropped 0.2 ONT for every 1 NEO.