Ontology have revealed they will be distributing 1,000 ONT tokens to everyone who signed up to their newsletter. Ontology have decided not to hold a public sale, and instead will be running a multi-phased token reward plan. Members who are eligible to receive the 1,000 ONT reward will be required to go through a simple KYC process to ensure they are not registered with multiple email accounts. All nationals are able to receive rewards and mailing list registrations are now closed.

Phase two of the token reward plan will be revealed in Q2 of 2018 after the launch of the Ontology mainnet. Specific details are yet to be revealed, but users will be required to participate in the Ontology Network to be eligible.

Ontology have also clarified the token distribution percentages. 12% will go to the Ontology community (including reward events), 28% will go to institutional partners, 10% to the NEO Council, 25% to the Ontology ecosystem development fund, 10% to Ontology technical community rewards (including the future bounty program) and 15% to the Ontology core team.

The full announcement can be read at the following link –¬†https://medium.com/ontologynetwork/ontology-finishes-collecting-email-addresses-for-the-first-round-of-its-reward-event-e6a617d2872e

Readers who would like to stay up to date with the Ontology project or future reward plans should join their Telegram, Slack or follow Ontology on Twitter. For details on the Ontology token model you can click here, or to hear our interview with Jun Li click here.