Ontology Coin (ONT) is the cryptocurrency that powers Ontology, a high performance blockchain that focuses on solving issues related to identity security and data integrity .
Ontology was initially based on neo blockchain network but after that it shifted to its network called mainnet.For your information the company behind the Ontology is the same which created NEO.
Ontology didn't offer an ICO instead they have private sales and sold ONT coins to the investor and some coins distributed to NEO holders by airdropped.
Ontology allows multiple blockchain to be built on singly Ontology network and allow businesses to protect their privacy since a lot of projects don't want their customers data to reveal publicaly here ontology network comes and provide single Identity for various multiple blockchain projects Cryptographic identity proofs without having to deal with sensitive documents like passports businesses which are the part of ontology network are able to transfer ONT ID across multiple blockchains and hence reduce the cost and time for data requirements
ONT coins role in ontlogy networks is quite simple which gives ONT coins holders a governance over the network and staking rewards, which you can think of as crypto “passive income” or interest
if you’re not interested Ontology network governance, you can stake ONT to earn a healthy annual return on investment of 2.75%, For comparison, the average US bank savings account pays 0.09% per annum