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Binance Will Delist Insolar (INS) on 2020/09/11

Binance
2020-09-04 11:17
Fellow Binancians,
At Binance, we periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard or the industry changes, we conduct a more in-depth review and potentially delist it. We believe this best protects all of our users.
Based on our most recent reviews, we have decided to delist and cease trading on all trading pairs of Insolar (INS) at 2020/09/11 4:00 AM (UTC).
Main factors contributing to the delisting of INS include:
  • Dilution of existing INS token holders with lower percentage ownership of total token supply upon swap to XNS (Insolar’s mainnet token).
  • Involuntary lockup and vesting of tokens when INS token holders swap to XNS tokens.
  • Drastic decrease in circulating supply of XNS tokens when swapped from INS tokens due to additional lockup and vesting upon swap.
  • Please refer to the following for more details, as announced by the Insolar team: Updated and improved INS to XNS swap terms
Please note:
  • The exact trading pairs being removed are: INS/BTC.
  • All trade orders will be automatically removed after trading ceases in each respective trading pair.
  • To view your assets after trading ceases, please ensure you have not selected “Hide small assets” in your Funds page.
  • Withdrawals of INS from Binance will continue to be supported until 2020/12/11 at 4:00 AM (UTC).
We thank you for your support as we continue to build the crypto ecosystem in a way that promotes transparency and long-term, sustainable growth.
Thanks for your support!
Binance Team
2020/09/04
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