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Announcement Regarding the MainNet Token Swap of Insolar (INS)

Announcement Regarding the MainNet Token Swap of Insolar (INS)

02/05/2020, 13:51:39

Dear KuCoin Users,

In accordance with the previous announcement, KuCoin will start the Insolar (INS) mainnet upgrade and complete the mainnet token XNS swap automatically for INS holders.

The INS mainnet upgrade and token swap arrangements are as follows:

  1. KuCoin will close the trading service of all INS trading pairs at 16:00 on February 7, 2020 (UTC+8). We recommend that you cancel your pending orders of INS as soon as possible.
  2. To complete the upgrade, KuCoin will take snapshots of users’ INS assets at 18:00 on February 7, 2020 (UTC+8). After the snapshot, we will convert INS into XNS at a ratio of 1:10 (1 INS = 10 XNS).
  3. After the upgrade, we will open the deposit service of XNS at 19:00 on February 7, 2020 (UTC+8).
  4. After the upgrade, we will open the trading service of XNS/BTC and XNS/USDT trading pairs at 22:00 on February 7, 2020 (UTC+8).
  5. The withdrawal opening date will be announced separately.

XNS Daily Distribution Rules:

KuCoin will distribute the XNS to users’ main accounts daily from February 8, 2020 to February 7, 2023 (UTC+8) according to the official ratio. For specific allocation ratios and rules, please refer to the official announcement of Insolar.

Note:

By participating in the Insolar (XNS) swap on KuCoin, the user agrees to the Coin Swap Terms and Conditions.

INS official announcement for your reference: https://medium.com/insolar/updated-and-improved-ins-to-xns-swap-terms-9a23e9ac02e0

Thanks for your support!

The KuCoin Team