The Ontology’s Trione Membership System has finally been announced.
The assignment of the Ontology, also referred to as ONT Token, will be governed by the Ontology’s governance Token, also referred to as ONG. The Membership on the Trione System is the first generation Ontology’s governance model available.
— Ontology (@OntologyNetwork) May 8, 2018
In fact, the Trione is the 7th brightest star found in the Ursa Major constellation. The Ontology network has been designed as an open source network implemented on a multi chain blockchain. The parent company is Onchain, which also holds ownership to the NEO blockchain and the Ecosystem. Onchain is a Chinese company that has been developing blockchain solutions for various businesses.
The Ontology is a NEP-5 Token, what this means is that it will use the NEO blockchain for the transactions that take place in the system. They have also gone ahead to announce that, come the second quarter of the year it will be ready to launch its Mainnet, and from this they will own a blockchain. The users who will be on the new Ontology network will be able to receive ONG tokens.
The ONG tokens are actually governance tokens which enables the proof of stake mechanisms. Ontology has also confirmed that the community will be able to have an airdrop after they launch the Mainnet. At the moment the Ontology Token is trading on most of the cryptocurrencies exchanges that are present, this is like Binance, Upcoin, Bithumb, OKEx, just to name a few.
According to the update they made on Medium, the incentives they are providing their users include an extra 1% incentive for the next three consecutive years.
How is ONT coin performing?
The market for ONT has been experiencing a bullish trend for the week, the token is showing an incline in its current price for a month now. The token had been able to reach its all-time high on 4th May, having it trade at about $10.6.
After the coin reached this hike, the prices started dropping slowly and is still continuing on the bearish trend for a week now. The current market capitalization of the coin is at about $1 billion, and at press time the trading price was at about $8.9, the price will continue to increase since in the past hour it has increased by 1.30%.