Binance to Suspend Ontology Network Transactions for Upgrade

According to the announcement from Binance, starting at approximately 2025-12-01 07:00 (UTC), the platform will temporarily suspend deposits and withdrawals of tokens on the Ontology (ONT) network. This suspension is to facilitate a network upgrade and hard fork aimed at enhancing user experience. The upgrade and hard fork are scheduled to occur at approximately 2025-12-01 (UTC). The Ontology network operates on a dual token model, comprising Ontology (ONT) and Ontology Gas (ONG). Following the upgrade, significant changes in tokenomics will be implemented. Notably, the maximum and total supply of Ontology Gas (ONG) will decrease from 1 billion to 800 million, with 200 million tokens being burned immediately. Although the circulating supply of ONG will remain unchanged immediately after the event, it may potentially drop to around 750 million in the future due to a permanent lock mechanism. Binance assures users that the trading of tokens on the Ontology network will not be affected during this period. The platform will manage all technical requirements related to the upgrade, ensuring a seamless transition for users. Deposits and withdrawals will resume once the upgraded network is confirmed to be stable. Binance has stated that no further announcements will be made regarding the reopening of these services. Users are encouraged to refer to the project team's announcement for more detailed information.