Dr. Doom posted on February 14, 2019 04:22:59
Chinese project from the NEO umbrella, as far as I know, and thus NOT Ethereum related (like is erroneously mentioned in the project profile details), I believe. Besides that, they have their own blockchain and so ONT is a native coin. According to their own words: "A new high-performance public multi-chain project & A distributed trust collaboration platform". The project is very high tech with a lot of different applications. And they have recently introduced a sharding implementation appearantly. One thing that definitely speaks for them is that their ICO consisted of various airdrops, so unless I missed something, tokens weren't for sale. There is one concern, however, which might be largely related to the airdrops, however i couldn't really find out when most of the airdrops occurred. It seems the team has a large control of the token supply, however I couldn't yet find precise details on that either. At the All Time High of ONT (around May 2018) the circulating supply was around 112.5m coins, while total supply is 1billion coins. At the height of the second rally of ONT in June 2018, the circulating supply was only increased to 151m coins. After that ONT got into a huge correction till mid Aug2018 where the supply didn't really change. By now (mid Feb2019) the circulating supply has increased to 325m ONT, which is more than a 100% inflation/dilution! So I don't know the real reason behind this, but from the outside this doesn't look really well in terms of investor perspective. It did rank #4 on the blockchain innovation ranking by the chinese governmental research institute (CCID I believe), so that should hypothetically mean that Chinese researchers qualify this project as legit and innovative. Based on the dilution issue I am though hoovering between shady and slightly shady, but will give it the benefit of the doubt, based on their high chinese index ranking and the possibility (that I am not aware of) of a legit explanation for the high coin dilution for which they might have been transparent about (for example if it was part of the scheduled airdrop program).
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