Ontology Founder Li Jun via Ontology (Twitter)

Ontology (ONT), a public chain infrastructure project and distributed trust collaboration platform, is making a big push into security token offerings (STOs) with a new token standard, OEP-506.

According to an announcement made last week, OEP-506 is designed to standardize a series of interfaces for STOs while meeting other requirements essential to their function, such as KYC compliance.

“STOs have increased in popularity recently, even being regarded by some as the next capital market revolution,” the Ontology team said. “Ontology’s technology philosophy is to be transparent, regulatory-friendly, and utilize decentralized digital identity. We have conducted a series of research and case studies on what we can do to support STOs and recently released the OEP-506 token standard proposal.”

Ontology’s new STO platform addresses four major areas, including trust services, registration services, compliance services and notification message services. Each service will be implemented through a decentralized application (dapp), where smart contract access control allows for control of regulatory agencies, issuers and investors.

ONT is currently trading for $0.6638 with a market cap of $193 million, making it the 27th largest coin in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More: What can Ontology do for security token offerings (STOs)?
Interesting: HyperDragons Is Leaving Ethereum for the Ontology Network

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.



Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.