Ontology token protocols
Queries regarding Ontology's tokens and token protocols
In case you are familiar with Ethereum's
ERC20, ERC721, and ERC1155 then the quickest way to understand these protocols would be to understand that OEP4, OEP5, and OEP8 are correlated to them, respectively.OEP4 is a protocol that homogenizes assets. Any two assets are indistinguishable from each other, but it allows for multiple units of an asset.OEP5 is a protocol that allows for non-homogeneous assets that are distinguishable from each other. However, every asset exists as a unity.OEP8 can be understood as a protocol that is a combination of OEP4 and OEP5. It allows for multiple kinds of assets and every asset can have multiple units. Thus, within the scope of the contract, similar assets are homogeneous in nature and have the same properties, while different assets are non-homogeneous and have different properties.The amount of claimable ONG at any given point of time = Amount of ONG unbound per second x ONT possession time x Total amount of owned ONT
The amount of ONG unbound per second: In a decreasing trend - [5, 4, 3, 3, 2, 2, 2, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1] gradually decreasing every year.
ONT possession time: Current time - Last recorded time when the ONT balance changed
Total amount of ONT: 1 billion
For example, account A has a 100 ONT balance on day 1, 200 ONT on day 2, and 300 ONT on day 3, the claimable ONG amount for this account is:
ïŒ24Ã60Ã60)Ã5Ã100/1000000000 + ïŒ24Ã60Ã60)Ã5Ã200/1000000000
The claimable ONG on the basis of the 300 ONT balance would be calculated when the next account balance change occurs.
The ONT quantity is absolute, and thus undividable. ONG is precise to 9 decimal places.
The three basic contracts on which the token protocols function:
Name | Address(Hex) | Address(Base58) |
ONT | 0100000000000000000000000000000000000000 | AFmseVrdL9f9oyCzZefL9tG6UbvhUMqNMV |
ONG | 0200000000000000000000000000000000000000 | AFmseVrdL9f9oyCzZefL9tG6UbvhfRZMHJ |
Governance Contract | 0700000000000000000000000000000000000000 | AFmseVrdL9f9oyCzZefL9tG6UbviEH9ugK |
Last modified 3yr ago