Ontology Gas
ONG
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Ontology Gas (ONG) functions as the utility and gas fee token for the Ontology blockchain under a dual-token architecture with ONT. The project demonstrates consistent development momentum, highlighted by MainNet v2.7.0 and v3.0.0 upgrades, an EVM opcode modernization, and an 80% gas fee reduction. Tokenomics were strengthened through a community-approved governance vote reducing the maximum supply from 1 billion to 800 million tokens alongside a 200 million token burn. Security posture is robust with a CertiK Skynet score of 83.28 (Grade A), audit verification, and an absence of protocol exploits or regulatory actions. However, challenges remain: community engagement shows limited grassroots interaction, governance voting power resides with ONT rather than ONG, structural supply overhang persists with a substantial portion of supply unissued, and the token has suffered a long-term 97.8% drawdown from its 2018 all-time high amid fierce competition in the Layer-1 infrastructure sector. No qualifying red-flag events were identified.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Ontology Gas (ONG)
Ontology Gas (ONG) is the native utility and gas token of the Ontology blockchain, operating within a dual-token model alongside the primary governance token, ONT. Initiated by Jun Li and the OnChain team, the Ontology network employs the VBFT consensus mechanism and the Triones Consensus System. ONG is utilized primarily to execute smart contracts and pay network transaction fees across the network, with cross-chain representations also present on BNB Smart Chain. The protocol incorporates an EVM environment that supports Ethereum-standard smart contracts and tooling.
The tokenomics of ONG are designed around a hard-coded maximum supply cap of 800 million tokens, following a governance vote and the MainNet v3.0.0 upgrade that burned 200 million tokens. ONG emissions are set at a fixed rate of one token per second distributed to ONT stakers over an approximate 19-year schedule, balanced by deflationary fee-burning mechanisms on transaction volume. Active network development has included MainNet upgrades, gas fee reductions, and roadmap initiatives covering account abstraction standards such as EIP-7702 and zero-knowledge frameworks. Security assessments include a verified audit from CertiK, which assigned the project an "A" grade security score.
Despite ongoing protocol development, the project faces notable market and structural risks. ONG has experienced a long-term price drawdown of approximately 97.8% from its 2018 all-time high and faces intense competition within the Layer-1 infrastructure sector. In addition, governance voting power resides exclusively with ONT holders rather than ONG holders, grassroots community engagement metrics remain limited, and substantial unissued token allocations present ongoing supply overhang considerations.