Ontology GasPrice

(ONG)

Ontology utilizes a dual-token model where ONT serves as the governance token. Holders stake ONT to participate in network governance through voting. ONG, on the other hand, functions as the utility or "gas" token for the network. It is primarily used to cover transaction fees, execute smart contracts, and pay for data storage on the Ontology blockchain. This clear separation ensures robust governance while providing a dedicated token for operational network activities.

ONG's utility extends significantly beyond transaction fees. It is essential for interacting with Ontology's decentralized identity tools, known as ONT ID, enabling secure digital identity management. Developers use ONG to deploy and run decentralized applications (dApps) on the network. Furthermore, ONG plays a crucial role in participating in various DeFi protocols built within the Ontology ecosystem, such as Wing Finance, where it can be used for lending, borrowing, or other financial services, powering a diverse range of Web3 activities.

Ontology is designed to be a highly cost-effective network, making it accessible for a wide range of users and developers. Standard transactions on the network typically incur a very low, fixed fee of 0.05 ONG. This minimal transaction cost ensures that engaging with the blockchain, whether for transfers, identity interactions, or dApp usage, remains extremely economical, fostering greater adoption and frequent usage without significant overhead.

In late 2025, a pivotal event in ONG's tokenomics occurred when the Ontology community voted to approve a substantial supply reduction. This initiative involved the permanent burning of 200 million ONG tokens. Consequently, the total supply of ONG was significantly reduced from its initial 1 billion to 800 million. This strategic move aims to introduce greater scarcity for the token, aligning with the project's long-term vision for value and sustainability within the ecosystem.

The most common and direct way to earn ONG is by staking your ONT tokens. By holding and delegating your ONT to a consensus node on the Ontology network, you contribute to the network's security and operations. In return, ONT stakers receive periodic rewards in the form of newly generated ONG tokens. This can typically be done through official wallets, providing a passive income stream for committed network participants.

ONG is readily available for purchase on a variety of cryptocurrency exchanges, catering to different user preferences. You can acquire ONG on many reputable centralized exchanges, which offer user-friendly interfaces and robust trading functionalities. Additionally, for those who prefer decentralized options, ONG is also listed on leading decentralized exchanges, particularly those compatible with the BNB Chain version. This widespread availability ensures that users have multiple convenient avenues to obtain ONG.