Ontology collaborates with NEO to offer NEO token holders $40 million dollar worth of ONT tokens in a free airdrop.
NEO and ONT are two blockchain projects that based outside China and have their roots tied to Onchain, a blockchchain R&D company headquartered in Shanghai. In addition to projects like TRON and EOS, Ontology has recently launched its main network as well as migrated from being an NEP-5 token on the NEO blockchain to its own asset.
After Ontology claimed to donate 100 million ONT, which equals to 10% of the maximum supply, to the NEO Council for “relevant cooperation and to support NEO community feedback,” NEO Council recently announced that all users who were holding NEO on March 2nd would receive an additional 0.1 ONT for every 1 NEO they hold. Several users on Reddit have confirmed that they have received the airdrop over the weekend.
Users can access their free airdop on the ONT blockchain by using the same private key as NEO as detailed here.
Ontology has already released 1000 ONT (about $4000) to all the users who signed up for their mailing list and completed the KYC requirements earlier this year. Previously in March, it stated on a blog post that it would allocate 53.75% of the circulating supply for various partnerships and developments. The majority of these proportions went towards community and ecosystem development.
NEO, widely known as the Ethereum of China, has recently announced that it would set foot in a new “era of decentralization,” as previously reported. NEO has loosened its restrictions to facilitate chances for other groups to run network nodes. The trading price of NEO did spike after NEO made the announcement. However, NEO is still going to be responsible for electing consensus nodes and the claims of “decentralization” have since been met with skepticism.
Airdrops among blockchain projects have remarkably triggered the volume in recent years. Projects expect that airdrops open entrance to a larger crowd and help spread awareness about the project. However, this is not a new practice by any means. Every major project from Bitcoin to Dogecoin has had free faucets to allow users to own and experiment with cryptocurrencies.