Binance has announced they will be supporting the upcoming Ontology (ONT) airdrop by the NEO Council to all NEO holders. Earlier in the month, the Ontology foundation transferred 10% of ONT's supply to the NEO Council for them to allocate in any manner in order to support a joint ecosystem. The NEO Council designated a portion of the received ONT to be airdropped to all NEO holders, 20 million ONT to be exact.
NEO holders that hold NEO in their NEON wallets (most other wallets may also be support, confirm with NEO support for specifics) and Binance will have a snapshot of their balance taken on March 1st to determine how much ONT should be distributed. Keep in mind, any transactions that are being processed or in "confirming" status will not be included in the snapshop. The snapshot of NEO balances across all Binance accounts will occur at block height 1,974,823 on the NEO blockchain.
For holding 1 NEO token, you will receive 0.2 ONT (50% is freely tradable and the other 50% is automatically locked until the release of Ontology MainNet in Q2 2018).
ONT will initially be a divisible NEP-5 token. After the release of Ontology MainNet in Q2 2018, NEP-5 ONT holders will be able to exchange their NEP-5 ONT for ONT on the Ontology MainNet. MainNet ONT will be indivisible; only multiples of 1 NEP-5 ONT will be able to be exchanged for MainNet ONT.
Ontology (ONT) will go through the same strict listing review process as any other coin/token. It will not be listed on Binance by default.
The distribution of airdropped tokens is scheduled to happen in the weeks following the snapshot on March 1st.
Ontology is a distributed ledger network which combines distributed identity verification, data exchange, data collaboration, procedure protocols, communities, attestation, and various industry-specific modules. Together this builds the infrastructure for a peer-to-peer trust network which is cross-chain, cross-system, cross-industry, cross-application, and cross-device.
Ontology Official Website
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