News update on mining WING, Ontology(ONT)'s Defi Token
Hello Black Cows!
Ontology staking to mine WING, the Defi token of ONT, started today.
Currently, $66.8M of ONT is staked.
However, lots of people are getting confused due to different incentive periods and withdrawal availability of ONT and WING.
WING official telegram manager noticed a detail explanation of it so here's some important things from it.
12~15th: WING normal mining(1 WING per 0.06sec) period. ONT withdrawal available. WING can't be withdrawn.
15~19th: 10x incentive mining (1 WING per 0.6 sec. only ONT mining available). Other coins deposit starts. (Mining WING is not available yet)
16th: WING withdrawal available. will be distributed 1 time per day.
20~24th: 5x incentive mining (1 WING per 0.3sec. ONT, ETH, WBTC, RENBTC mining starts) period
25~29일: 3x incentive mining period. ONT, ETH, WBTC, RENBTC, USDT, USDC, DAI, PAX SUSD mining starts.
The most important thing is,
[A "tier 1" exchange is coming within the month after launch]
One more FOMO for ONT is,
NEO's Defi project, Flamingo, will support ONT through PolyNetwork.
I also started stking ONT to mine WING.
ONTOTHEMOON!
You can find more information on,
https://pgyinfo.tistory.com/181
Original Notice
For clarity—
12-15th: normal rewards in WING at 1x. WING rewards are accumulating.
WING withdraws are locked, ONT withdraws are open.
15th: 10x ONT rewards begin, and deposits of other assets are likely to be open as well.
No pool transfer is needed, but you may need to make a selection as a participant in which lending pool you're in.
WING rewards will not accumulate without this choice.
16th: WING rewards are withdrawable, distributed once a day.
15-19th: 10x rewards are given on ONT deposits.
20-24th: 5x rewards for ONT, ETH, WBTC, and RENBTC.
25th-29th: 3x ONT, ETH, WBTC, RENBTC, USDT, USDC, DAI, PAX, SUSD
Notes:
ONT is always withdrawable, all times are based on UTC at midnight.
1x is equal to .06 WING distributed/second in proportion to all participant's stakes.
10x rewards is .6 WING distributed/second (only to ONT).
80% of all WING will be distributed to the community.
20% is held in escrow for governance, and will be distributed 5%/6 mo.
10M is total supply, similar to Compound.
A "tier 1" exchange is coming within the month after launch. No further comments may be made.
ETH/BTC/etc will be wrapped as oETH and oWBTC for instance.
Governance address has changed to: AMRs4amYiWZpLh1AAcx4PMzYZp4ugbLmUu
Deposits thus far can be found here:
explorer.ont.io/address/AMRs4amYiWZpLh1AAcx4PMzYZp4ugbLmUu
Troubleshooting:
OWallet is NOT supported. Cyano (chrome extension) and ONTO (mobile) are supported (see pinned).
Windows security update may prevent deposits. Old Windows Versions under 1903 will still work, or use iOS as a workaround.
Multi-Asset ONT ID will be needed to use the platform if you don't already have one (legacy).
.05 ONG is necessary for all transactions. If you have an error, make sure you have ONG.
ONT/ONG can be swapped in ONTO wallet directly (upper right corner of your wallet).
Incognito on your browser can sometimes solve your problem.
Please refer to the white paper for more details:
Wing_whitepaper.pdf
WING Official Telegram Link
