MainNet ONT Token Swap
Ontology uses a dual token (ONT and ONG) model. At first, ONT is a NEP-5 token and does not release ONG. After the launch of Ontology’s MainNet, users will be able to exchange NEP-5 ONT for ONT on the Ontology MainNet, which will start to release ONG periodically.
Ontology’s MainNet will go live at the end of June 2018. After the release, all NEP-5 ONT must complete mapping to migrate to the Ontology MainNet. Ontology has arranged an adequate amount of time for everyone to complete their token swap.
There will be two ONT mapping methods:
Automatic mapping: If you would like to undergo exchange mapping, please wait for official notices from supporting exchanges on how to undergo mapping.
Manual method: Using a NEO wallet and ONTO (Ontology’s comprehensive decentralized client that includes a wallet, which will be released in July) to complete the mapping swap. Your NEO wallet and ONTO wallet will use the same address, private key, and WIF.
For the manual method please note:
Make sure you send ONT from your wallet, if you send another asset to the mapping address you will have no way to recover it.
Since MainNet ONT is indivisible (smallest unit 1 ONT), only whole numbers of NEP-5 ONT can be mapped. If you have smaller units of NEP-5 we recommend you make your ONT a whole number before mapping.
Please be careful not to send your ONT to an address other than the MainNet mapping address, which will be provided at a later date.
We recommend you first try mapping with a small amount of ONT before mapping a larger amount of ONT to make sure you do not experience any issues.
Since ONTO and NEO use the same public and private key system, your NEO wallet address, private key, and WIF are your ONTO wallet, private key, and WIF. Please keep your NEO and ONTO wallet private key and WIF secure; do not pass on your private key information over the internet, for example via social media, email, and so on. If your private key is leaked, you could lose your ONT. We recommend you keep your private key and WIF information in offline storage or write it on paper.
If you have any questions about the token swap, ask the community in the #token-swap channel on our Discord.
Below we will explain the manual mapping method:
Step one: Mapping transaction
During the mapping period, you will be able to use your NEO wallet and the mapping address to conduct the token swap. The MainNet mapping address will be provided at a later date. The Ontology MainNet will automatically destroy the NEP-5 ONT and migrate your ONT to the ONT MainNet. This process will be done within 24 hours. Here we use NEON wallet and O3 wallet as examples, but you will be able to perform the manual token swap from any NEO wallet.
NEON wallet:
After logging into your NEON wallet, click “Send” and select “ONT” as your asset. In “Amount” enter the amount of ONT you would like to map and in “Address” enter the mapping address. Click “Next”, and then agree to the transfer and click “Send Assets” to complete the transaction.
O3 wallet:
After logging into your O3 wallet, go to “Send” and select “ONT” as your asset. In “Amount” enter the amount of ONT you would like to map and in “Address” enter the mapping address. Click “Send” and then “Send” again to confirm and complete the transaction.
Step two: Checking the status
You will be able to go to the swap status check page (when Ontology MainNet goes lives the address will be https://swap.ont.io) to check the status. Enter your NEO wallet address to check the status. The mapping status will show the amount and status (waiting processing, currently processing, complete).
Or you can go to the official Ontology block explorer (https://explorer.ont.io/) and enter your ONT address to check your mapping information.
Step three: Obtaining new wallet
You can use your NEO wallet private key or WIF on ONTO to obtain your MainNet ONT. On ONTO use the “Import a wallet” function. Enter your NEO wallet private key or WIF, create a password, and after you have created your wallet your MainNet ONT will be in your wallet. From here on, you will also be able to redeem ONG from your ONT!
ONTO private key and WIF import page
Import private key