Cyberspace 4 Philosophers
To celebrate Ontology’s 4th anniversary, we have made 10,000 limited edition NFT’s available for minting. Not only do they look great, but they will also be used to establish a special NFT Ontology Node where NFT holders benefit from the staking rewards.
Minting takes place over four rounds, between December 9th 06:00 UTC and December 10th 00:00 UTC. Any remaining NFTs from each round, will be carried over to the next.
Round 1: 06.00 UTC, Dec 9th — 1000 NFTs available Round 2: 12.00 UTC, Dec 9th — 2000 NFTs available Round 3: 18.00 UTC, Dec 9th — 3000 NFTs available Round 4: 00.00 UTC, Dec 10th — 4000 NFTs available
NFTs will be available to mint for ten days, starting with Round 1. Minting ends on 12/19 06:00 UTC or when all 10,000 NFTs have been minted. Each NFT will cost 10 ONT to mint, with a unique ONT address able to mint a maximum of 10 NFTs.
Stake NFTs and Earn ONG
When you mint your first NFT, you have helped to establish special NFT node owners. Congratulations!
NFT staking has significantly reduced the barrier of entry to establishing a node, by allowing you to do it together with your NFTs. A node owner requires a minimum of 10,000 ONT and pays fees of 500 ONG to establish the node. The special NFT node is established with the ONT used during the minting event and Ontology is covering the 500 ONG in fees as a part of the 4th anniversary celebrations.
90% of the ONG rewards earned by the node will be distributed between the NFT owners, with the remaining 10% being used, in the first instance, as a fund for those who choose to burn their NFTs (see below). When the NFT burning fund is full, the remaining 10% will be used to fund future Ontology events.
Redeem ONT
Should an NFT owner wish to do so, they can burn their NFT and redeem 10 ONT.
Burning NFTs does not reduce the size of the stake in the node. Great news for those that don’t burn their NFTs, as their share of ONG rewards increases for every NFT burned.
Burning NFTs can increase rewards up to 9000 times for the remaining holder. Should all NFTs be burned, the ONG generated by the node will be used by Ontology for future community development.
More
NFTs feature additional use cases — stay tuned for more details!
Guide
Ontology Node Staking
Besides participating in this NFT staking event, you can also stake ONT to earn ONG rewards. There are two ways: operate a node yourself or stake with other nodes.
Operate a node
Stake with other nodes
View a brief summary of annualized yield, increase in stake and fee sharing ratio changes of nodes:
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