Ontology Gas

Ontology Gas (ONG) is the utility token of the Ontology public blockchain, which launched its mainnet on June 30, 2018. Ontology positions itself as a high-performance distributed trust and collaboration platform, offering smart contract systems and distributed ledger infrastructure. ONG is specifically designed to pay for on-chain services such as transaction fees, smart contract execution, and other network operations, targeting developers and organizations building decentralized applications.

Ontology uses a dual-token model alongside ONT, its governance and staking coin: ONT holders generate ONG periodically through a release mechanism tied to the mainnet, meaning ONG enters circulation over time rather than through mining. ONG is then spent to cover the cost of using the network, functioning similarly to a gas token on other smart contract platforms. The stored data does not include a consensus algorithm, so the precise validation mechanism cannot be described here.

The data records a total value locked of 1,252.26 USD at the point-in-time of measurement, which is an extremely small base relative to the market capitalization of 56,225,517 USD, producing a market-cap-to-TVL ratio of 45,440.43. This ratio, alongside the fully diluted value-to-TVL ratio of 75,783.8, reflects that very little economic activity in the form of locked collateral underpins current valuations according to the stored data. No fee revenue figures are present in the data provided, so this site cannot report on fee generation, fee recipients, or protocol earnings from that lens.