How to Make Passive Income Holding Ontology

The cryptocurrency market is in a recession and investment in ICOs has not brought desired results. Nevertheless, this market still allows you to earn money, and now is the right time to look into the possibility of obtaining passive income. I would like to start looking into the most promising projects in terms of passive income. In this review, we will discuss one of the most interesting projects of the current year – Ontology.

Project: Ontology

  • Purpose: Introduce blockchain technology into the work of companies
  • Website: ont.io
  • Company Info: Managed by Onchain, which is among the top 50 leading Fintech companies in China
  • Current Development Stage: MainNet 1.0 (released on June 30)

Project Features

Ontology is a multi-level network designed for the mass introduction of blockchain technology into the work of companies. The project supports many advanced applications to create private blockchains, provide control over information and interact with other private and public blockchains and the global network. The goal of the project is to solve problems associated with the massive introduction of blockchain technology into the work of enterprises by creating an ecosystem of trust for the effective interaction of participants.

The Ontology system can be implemented in various fields of activity. The project has concluded a large number of important strategic partnerships. Partners and institutional investors include such well-known companies as Certik, Matrix, Sequoia Capital and many others.

Network levels include:

  • Level 1: connecting the Ontology blockchain with other large-scale blockchain platforms;
  • Level 2: ready-made APIs and protocols that allow you to create private blockchains;
  • Level 3: the introduction of blockchain technology in the work of organizations.

Tokens

There are two types of tokens in the Ontology network: ONT is the internal currency of the platform, which givez the right to use internal services, as well as to participate in voting on the development of the project. ONT tokens were initially distributed for free to holders of NEO in Q1 2018 for free.

ONG is the currency that serves as fuel for conducting operations on the Ontology network, by analogy with GAS tokens in the NEO network. Both currencies can be purchased on cryptocurrency exchanges. The total supply of both currencies is limited to 1 billion.

How to Earn Passive Income

Ontology provides the opportunity to receive passive income by storing ONT tokens on the wallet, since ONT storage allows you to receive ONG tokens, which, in turn, can be sold on the exchange at market price. When each new unit is generated on the Ontology network, 5 ONG tokens are issued, which are distributed to the entire number of ONT tokens. To calculate the estimated profit from the storage of tokens, you can use a special calculator.

The number of ONT tokens on the user’s account does not affect the percentage of profits earned. However, this figure may vary depending on the market value of ONT and ONG tokens. For example, if the ONT rate falls relative to ONG, then the ROI increases.

Calculation example:

  • Investment amount: $ 1000
  • Number of ONT tokens: ~1,000
  • Daily Earnings: 0.43 ONG ($0.015388 USD)
  • Profit per year: 157.7 ONG (~$ 56.2)
  • ROI: 5.47%

For calculation, the rate of tokens as of Nov. 21 is used: ONT = $ 1.01; ONG = $ 0.343

Profit calculator: https://ontcalc.com/

Summary

Ontology is a large-scale and very ambitious project capable of having a significant impact on the extensive introduction of blockchain technology in all possible areas of enterprise activity. Even though the storage of project tokens brings a relatively low percentage, in the long run, the total return on investment in ONT can be very significant since these tokens have great potential for growth.

Featured image courtesy of Shutterstock. 

Author:
Vladislav Semjonov has a legal and financial background. He has been involved in crypto space since early 2017 in both ICO advising positions in several ICO consultancy firms, and as an ICO analyst for VC. He began contributing for Hacked.com in April 2017.