NEO is among one of the most popular names in the world of cryptocurrencies. Not only is their blockchain technology popular, but their cryptocurrency token too is quite popular with the users. NEO holders are all in for a surprise as the NEO council just announced that they will be airdropping ONT tokens to NEO Holders!
Airdrops are always exciting. For those who may not be aware, and Airdrop is basically when a holder of a particular cryptocurrency is given free cryptocurrency tokens. The most popular such recent example was that of the IGNIS airdrop
, where IGNIS tokens were given to all NXT holders. However, the final word on whether or not holders will get the tokens will be announced by the exchange. For now, NEO has announced that all NEO holders will be getting the ONT tokens.
The Ontology Project has placed a large number of ONT cryptocurrency tokens under the care of the NEO Council. The NEO council has now decided to give away 20 Million of these tokens to NEO holders. Each NEO holder will get 0.2 ONT tokens per NEO (If you are holding 1 NEO, you get 0.2 ONT, if you're holding 10, you get 2 ONT and likewise). Out of the total ONT you get, 50% of it will be tradeable and 50% would remain locked-in.
The snapshot of NEO addresses will be done at block height 1974823, which is estimated to be at March 1st, 2018, around 5:00 am (Pacific Time). Be sure to stock up your NEO tokens before the date! 50% of the ONT tokens (0.1 ONT per NEO), which is tradeable will begin to be airdropped from the weeks following the first week of March. However, the other 50% will arrive in Q2 2018 - which isn't really far, considering April marks the beginning of Q2.
Over the next few days, expect exchanges to show their support for or against the ONT tokens. So far, only KuCoin cryptocurrency exchange has confirmed that they will support the ONT Airdrop. Stay tuned with us at CryptoCrimson for more cryptocurrency news updates.