A few chosen Neo users are receiving free crypto money now.
Those who held tokens on the Neo blockchain from March 1, started receiving 10 million ONT tokens, (Worth $42,100,000) to power Ontology, a completely new crypto tech platform.
The “ONT Token Distribution” efficiently recompenses all users of the Neo blockchain for providing much needed technology for the project’s fundraising.
If this sounds confusing to you, then you’re not alone. However, this move has been in the works for quite some time now.
The Neo Council, a department set up to oversee the Neo blockchain protocol, announced in February that it would freely distribute 20 million ONT tokens to eligible NEO token holders by means of a two-stage “airdrop”.
A total of 100 million ONT, or 10% of the maximum supply were granted by Ontology’s creators to the Neo Council for “relevant cooperation and to support NEO community feedback”.
The Neo Council airdrop deadline on Monday marks the start of Ontology’s token migration, wherein Neo-based ONT holders must move their tokens to Ontology’s “mainnet”—its very own blockchain network.