Do I receive Ontology GAS if I have Ontology stored on my hosted wallet?

If you store Ontology on your hosted wallet you will receive Ontology GAS (ONG) on a monthly basis. This process is explained in more detail below:

  1. Every day at a fixed time we determine how much Ontology every user has in his wallet. All of these daily values are added up at the end of the month.
  2. At the end of the month we look at how much ONG has been produced by all the Ontology from the users at Bitvavo.
  3. Thereafter the produced ONG will be distributed evenly among the users that have Ontology in their hosted wallets.
Example

For illustrative purposes, please note the example below:

  • In a certain month user A had 50 Ontology for one day, 100 Ontology for two days and no Ontology in his hosted wallet at Bitvavo on the other days. In total, User A has had 250 Ontology during this month.
  • The total of Ontology stored per day by all Bitvavo users is 500.000.
  • The total produced ONG that will be distributed is 1.000.
  • User A would get 250 / 500.000 * 1.000 = 0,5 ONG.

The distribution of ONG will be added to your hosted wallet on every first Tuesday of the month.


How did we do?