The OKEx Cooperation Summit 2019 was held from June 15th to 16th in Ho Chi Minh City, Vietnam. As the Chief Summit Partner, Ontology attended the summit with multiple ecosystem partners. The event drew an audience of over 1000 people.

Jesse Liu, Marketing Director of Ontology, spoke at the summit and gave a detailed introduction to Ontology’s vision, roadmap, technological breakthroughs, ecosystem partners, and community growth. He said that globally Ontology has over 200 core members, 190 ecosystem partners, 2 million community members, and 900 developers.

“Thanks to the growing Ontology ecosystem and our partnership with MovieBloc, a blockchain-based film distribution platform with 812 million users, and PAXOS, a regulated stablecoin issuer, we have seen a dramatic increase in the number of users. Our expansion to the Vietnamese market is another big step in this direction. And we will continue to build a better ecosystem for our community”, said Jesse.

In an interview at the summit, Jesse also revealed that Ontology already has a clear business strategy and a complete public blockchain system, and will continue to serve traditional industries, especially business entities with hundreds of millions of real users.

These users will be channeled to the Ontology ecosystem via ONT ID, which can lead to higher demand for ONG and node staking, thus boosting the demand for ONT. “Our partnership with MovieBloc is a perfect example of this strategy. We will announce more such partnerships in the near future”, said Jesse.

Jesse also introduced the features and vision of PAX, the Ontology-based OEP-4 stablecoin at a panel discussion on stable coin later that day. He said OEP-4 PAX can better serve the traditional industries in the Ontology ecosystem and will be essential for channeling user traffic into the Ontology platform. In the future, a lot of Ontology’s user traffic will come from OEP-4 PAX, so that it’d be easier to integrate with third-party exchanges and wallets. OEP-4 PAX will also play a key role in the Ontology cross-chain solution, enabling users to link blockchain and the real world.

In response to the questions about Ontology’s dual-token system and dApp market during a live AMA session, Jesse explained that Ontology uses a dual token (ONT and ONG) model. ONT is the governance token and can be used for staking in consensus, whereas ONG is the utility token used for on-chain services. Since the MainNet launch, ONT generates ONG periodically.

He also emphasized that in terms of the dApp market, Ontology is focusing more on the quality of dApps and more applications in real business scenarios, instead of focusing only on the dApp quantity and gaming.

This is the first time OKEx has established a comprehensive strategic partnership with a leading blockchain project. Through this partnership, Ontology will have access to OKEx’s resources in Southeast Asia and the two sides will work together to explore technical solutions and future trends in the region. Ontology will also work with our ecosystem partners to better serve the traditional industries in Vietnam and build a better ecosystem for our community.

Finally, we would like to thank our partners OKEx, MovieBloc, Muzika, GoWithMi, Allive, and MixMarvel for their support. Most of all, a big thank you to our fans in Vietnam, who make our work so meaningful and motivate us to work harder.

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