ONOT is a virtual commodity trusted and held by all members of the community of ONO. It embodies the value of virtual goods, social traffic and of attention, which is transferable, shareable and precious. ONOT can be used and circulated in the social content market, referendum market, mini app market and transactional market in order to realise its commercial viability.
ONO usesn blockchain technology to record and verify the content release details, payment transactions, consumption and purchase, as well as referendum activities. All the operations will be recorded in the blockchain of ONO, to ensure that operational data is authentic and unable to be altered.
The ONO system returns value to the users who created the attention. As an important value certification with public trust in the social media network, ONOT can be divided and transferred; it is required to be consumed for certain function on the social media network, such as placing ads. This the external usage value and product attribute of ONOT.
At the same time, ONOT also has many application scenarios in the social media network. It is also a free circulation pass. This is theinternal value and circulation attribute of ONOT.
The native digital cryptographically-secured utility token of ONO (ONOT) is a major component of the ecosystem within ONO, and is designed to be used solely as the primary token on the platform. ONOT will initially be issued by the Distributor as ERC-20 standard compliant digital tokens on the Ethereum blockchain, and these will be migrated to tokens on the ONOchain when it is launched.
ONOT is a non-refundable functional utility token which will be used as the unit of exchange between participants on ONO. The goal of introducing ONOT is to provide a convenient and secure mode of value exchange, payment and settlement between participants who interact within the ecosystem on ONO. ONOT does not in any way represent any shareholding, participation, right, title, or interest in the Foundation, the Distributor or its affiliates, or any other company, enterprise or undertaking, nor will ONOT entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Singapore or any other jurisdiction. ONOT may only be utilised on ONO, and ownership of ONOT carries no rights, express or implied, other than the right to use ONOT as a means to enable usage of and interaction with ONO.
The Distributor which issues and sells ONOT shall be an affiliate of the Foundation. The initial circulation of ONOT is 75 billion. With the year-by-year incremental creation mechanism, the final amount should total 100 billion ONOT. ONOT is the only circulation token of ONO.
Based on Proof of Contribution (POC), ONO will distribute ONOT to individuals who contribute to the social media network.
The portion distribution of ONOT is based on a constant definition: ONOT incentives can be measured by the value of the users’ contributions to the ONO social media network. The daily dynamics and content creation of social media networks are of equal significance to the sustainable development of a community.