onG.Social, The Future Of Social Media On The Blockchain
Community, privacy, encryption and rewarding your content through the blockchain
OneName Global, Inc. is excited to announce several updates to the onG.social platform:
· A new user interface and experience
· A new logo, token logo and ticker: ONG
· New social integrations
· Listing on CoinMarketCap
· Exciting strategic plan
New User Interface
onG.social has a fresh new user interface that not only adds more seamless functionality to the platform but also has a very intuitive and aesthetically enhanced flow.
Thanks to the support from our community this is the first of many upgrades to the site. Please visit the new site here
Updated UI, Logo, Token Logo & Ticker
To kick-off the new UI look and as a true reflection of onG.social’s UX, we’ve updated the onG logo:
AND….New ONG Token Logo:
New Ticker: ONG
The onG Coin ticker was recently updated and changed to ONG, an ERC20 compliant token. The contract address can be seen here: 0xd341d1680Eeee3255b8C4c75bCCE7EB57f144dAe
Please note: If a receiving address has not yet made a transfer of at least 1 ONG to another address, it will not yet show on etherscan or ethplorer. These addresses don’t get “mapped” to the contract address until there is minimal activity.
The ONG Token will soon be integrated within the onG.social platform as a utility token to be exchanged for G-bucks and G-fuel by early 2018 with Blockchain integration for the dapp currently ahead of schedule and well within the roadmap, scheduled for early 2018. Other scheduled updates include full wallet and crypto rewards integration on the platform.
New Social Media APIs
We have integrated the new Twitter API to make it easy to Tweet from the “onG Dashboard,” view Twitter feeds, retweet/comment on content and post Twitter updates. The next release will include integration with other social networks including Steemit and Instagram, which are scheduled for completion by mid-January.
Coinmarket Cap Listing
We are pleased to be listed as a verified token on Coinmarketcap.com to allow our community to track the stats for the “ONG” Token.
ONG Token Recap
onG created an initial supply of 300M ONG and wrapped up our initial token sale in mid-September with a total of 1,964,300 onG Coins sold out of a hard cap of 70,000,000 [$1,261,725].
During the token sale onG implemented a bonus program for token purchasers and a bounty program for marketing, social media, whitepaper translations, affiliates, etc. that brought the total distributed ONG to 8,098,387.38
10% of the total 300M supply (30M) was reserved for the company employees, founders and future employees with a total of 4,748,000 ONG distribtued.
200M ONG are locked for a 20 year distribution oracle as network rewards at onG.social.
This brings the total circulating supply to approximately 12,846,387.38 ONG with an estimated market cap of $3,494,988.15 at the time of this update.
All remaining ONG are locked and can be seen at the following addresses:
Click here to see full view.
There has been much discussion lately in our community as to the plan for the remaining ONG, so we would like to lay out the following detail to fit within a strategic plan for the future:
· Set aside 10.9 M ONG for future developers and marketing incentives.
During the setup of our structure we did not allot any ONG as incentives for developers or marketing and believe that this will be important for us in the future. Our upcoming platform release includes open SDK’s that allow developers to build custom apps, which will drive innovation for the entire community inside of the onG.social platform and we want to incentivize developers to accelerate these efforts.
Furthermore, as we move rapidly toward a brand new dapp platform release we have a massive marketing campaign prepared and can utilize a portion of allotted ONG for this purpose (approx. 1M). This will help us accelerate platform adoption after the new release.
· The remaining ONG (approx. 50M) we plan to keep in a locked reserve to put in use once we implement a special protocol and series of smart contracts.
This will take some extra development that we did not initially plan for, but will benefit the ONG community by allowing verified pages to mint custom page tokens at onG.social that will allow for enhanced controls for page owners, stats, custom page incentives, market place goods development and will more effectively drive value for ONG Token and ecosystem as a whole without a need to burn a valuable asset.
Custom Page Token Mint
The “special minting protocol” uses a unique ERC20 Adapter and Token Converter drawing from ONG reserves with a configurable “weight” when each page “mints” a custom token. Once the tokens are minted, the total number of custom tokens may fluctuate and the price will dynamically adjust based on market sentiment and demand.
Oracle Reserve Adjustments
Once ONG integrates the page mint feature and measures demand there may be a need to adjust the amount of oracle reserves slightly to add to the page mint reserves. Also, ONG plans to adjust the oracle to a dynamic distribution model based on number of daily active users vs. a flat 20-year daily distribution amount to keep the integrity of the ecosystem balanced over time.
In short, the future of social media on the blockchain is looking bright at onG.social for community, privacy, encryption and rewarding your content through the blockchain.
We thank the ONG community and will be sharing more exciting updates as we continue making progress.
For more information on onG Social and the team behind the project, check out our whitepaper for a full list of the phases. You can also see our roadmap, view team members on the token website and join us on Telegram for daily updates. Please visit onG.social’s fresh new interface here
Other questions, comments? Feel welcome to contact us at Success@onG.Social