The NEO Council manages 10% of ONT tokens and has decided to airdrop 20,000,000 of these tokens to NEO holders. This is both a gift to the community and an effort to support a joint ecosystem.
The council will airdrop the tokens in two phases using the same snapshot. The first phase of the Airdrop will deliver 0.1 ONT per NEO and will be completed in the weeks following March 1st. They will lock the remaining 50% and airdropp in onto the Ontology MainNet after its release in Q2, 2018. Then they will release further details as we approach the launch of the Ontology MainNet. The snapshot will occur at block height 1,974,823 and is estimated to be on March 1st, 2018, at 01:00 UTC.
OnChain launched The Ontology Network on the 27th of November in 2017. Many may know OnChain as DaHongFei’s and Erik Zhang’s company, since people know them as the founders of NEO.
Ontology is a project that focuses on building a decentralized trust ecosystem. It is a peer to peer blockchain network that will enable cross-chain, cross-system, cross-industry, cross-application, and cross-device infrastructure.
ONTOLOGY TOKEN DISTRIBUTION MODEL
- 12% – Ontology Community (including the reward events)
- 28% – Institutional Partners
- 10% – NEO Council
- 25% – Ontology Ecosystem Development
- 10% – Ontology Technical Community Reward (including the future bounty program)
- 15% – Ontology Core Team
Exchanges Binance and KuCoin have announced they will be supporting the upcoming Ontology Airdrop to NEO holders.