The ONT and ONG Tokens
The Ontology (ONT) and Ontology Gas (ONG) tokens power our network and help bring self-sovereign, decentralized identity solutions to Web3.
Learn about how our dual-token model works and how to use ONT and ONG.
ONT
ONG
Ontology operates a dual-token model using an architecture that supports scalability and rapid, high-volume, low-cost transactions. The ONT and ONG tokens are both essential to the ongoing operation of the Ontology public blockchain.
The ONT token serves as the primary means of both storage and transfer of value on the Ontology network. When ONT token holders delegate their stake to a Triones node, they allow that node operator to make proposals and vote on matters of governance on their behalf.
Fees and transactions on the Ontology network are paid for using the ONG token. Deploying smart contracts, for example, uses ONG in the process. ONG keeps the network’s transaction costs predictable, providing a friendly operating environment for users and developers alike.
By staking ONT in exchange for ONG rewards, users can contribute to the security and stability of the network.
Managing ONT & ONG
Users can store, exchange, or transact with both ONT and ONG using the ONTO Wallet. ONTO is a complete cross-chain identity and asset management solution for Web3 netizens. The ONTO Wallet is available as a mobile app and ONTO Web Wallet is available as a Chrome extension for PCs.
Using the ONTO Wallet, you can store, swap or transfer both ONT and ONG in an easy-to-use interface. The ONTO Wallet also supports ONT staking and management of ONG rewards. With ONTO Wallet, you can keep your digital assets and identity in one single location.
Alternatively, users interested in becoming node operators can use the native desktop OWallet. Operators can manage their nodes in OWallet, in addition to integrating with hard wallets like the Ledger Nano/X for enhanced privacy and security.
Ontology EVM Tokens
In order to interact with Ontology EVM applications, Ontology native and standard OEP-4 tokens need to be bridged into the Ontology EVM as ORC-20 tokens.
ONT is wrapped as WONT (Wrapped ONT), an ORC-20 standard token pegged to ONT.
ONG is wrapped as WONG (Wrapped ONG), an ORC-20 standard token pegged to ONG.
You can use the Ontology Bridge to bridge or wrap tokens both to and from the Ontology EVM.
Currently, Ontology EVM tokens can be interacted with by using ONTO Wallet, ONTO Web Wallet and other Ethereum wallets like MetaMask.
