Ontology recently joined our data cooperative, to bring more transparency to their ecosystem. The blockchain has a dual-token design that uses ONT for staking and ONG as gas. Take a look at the flow of each token below to understand stakeholders’ on-chain behaviors.
Huge Move: ONT Top Holder Decides to Stake, not Sell.
Legend: The visual above is a recording taken from our data cooperative. Each bubble represents part of ONT’s active supply on the Ontology blockchain. This is defined as having been transferred within the last 30 days.
Users buy and hold ONT to take part in Ontology’s governance, and to earn rewards by staking them. In layman’s terms, this is similar to earning interest on a fixed income investment like bonds. Note that ONT cannot be used on dApps.
The back and forth between users and the foundation reflects users staking their tokens and retrieving them.
May 19th: Notice the large move of tokens from the “top holders” cohort to the foundation. Top holders are users who own over 100K ONT in their wallets. Looking at the network activity details (replicated below), we can see that one top holder decided to stake 37.5M ONT. This is a good thing for the network. It means that users want to keep their tokens, and earn more ONT.
ONG Transactions Reveal a Functioning Economy between Exchanges, Users & dApps.
Legend: The visual above is a recording taken from our data cooperative. Each bubble represents part of ONG’s active supply on the Ontology blockchain. This is the total supply transferred within the last 30 days. The “staking pools” are the node operators.
When users earn rewards from staking ONT, they win ONG, which they can then use on dApps. A healthy ecosystem would reflect a consistent back and forth between exchanges, dApps and users, which is what we can see above. Top holders are buying ONG from exchanges, to then spend it on decentralized apps (dApps)*.
*DApps tend to transact in small amounts (i.e. many games cost a penny to play), which gets dwarfed by a large transfer from exchanges.
Ontology is an enterprise focused blockchain platform that seeks to provide a high volume of fast and cheap transactions, while helping businesses grapple with issues of interoperability and identity. The platform has a unique design which consists of multiple interoperable chains, anchored by a core blockchain. This reflect’s Ontology’s focus on giving businesses flexibility in terms of designing a ledger.