InsurChain Weekly Report (Feb.20th-Feb.26th)

Business & Cooperation

1. InsurWallet Spring version update

Active users this week: 335 thousand. Hashpower has reached 198 million H/s. The number of daily active users has declined because of the banning on illegal accounts.


(InsurWallet data for this week)

We have been giving out more INSURs to our users, but since the total number of users are increasing, INSURs received by each user might decline. We will optimize our mining strategy and introduce more elements hashpower.

InsurWallet V.1.4 is estimated to go online this Friday with following features:
A. Adding bonuses for consecutive sign-ins. It is designed to offer more hashpower for users so that they can have earn more INSUR.
B. Modifying the mechanism on token acquisition from mining. Changed from automatic acquisition to manual acquisition. If you don’t acquire your tokens, it will be returned to the pool and increase your profit on next mining. It is designed to offer more profits to true users and keep zombie accounts outside profits.

2. The airdrop and rewards

We have launched an airdrop action called “Choose your influencers to win 2 million INSUR” during Spring Festival. We have sorted out all users and sent the rewards to all users who participated the action. Those who made it to the rank and added wallet address have received 10 thousand INSUR each.

We will have a promotion action this week for users outside China mainland, including an airdrop in Telegram. It is estimated to go online on this weekend. You can get the latest information on it through our homepage, Weibo and Twitter.

3. INSUR Position-lock initiative

In light of recent market environment, we decide to launch the first round of position-lock initiative on Mar. 6th. Users can participate with at least 500 thousand INSUR. Lock periods are 3-month, 6-month and 12-month with a corresponding 4%, 5% and 7% annual yield each.

We will release the details tomorrow in our homepage and Wechat Official account.

4. Buyback status

In order to cheer up confidence for our investors, we have initiate a buy-back last week. We have bought back 120,000,100 INSUR last week and sent them to the following address:
0x35812608be0753a6756ea4d549a39bb1c6d537fb
INSURs transferred to this address will be locked for at least 180 days. We promise all the INSUR bought back will only be used to marketing and building the ecosystem when unlocked.

Market

From this week on, we will analyze the trading of INSUR on secondary markets from last week, so every user can know better about the market trends.

From Feb.27th to Mar. 5th, the trading volumes of INSUR reached 1.937 billion with a 23% turnover rate and 277 million daily trade. Among all the trading, the trading volume of INSUR/BTC, INSUR/ETH and INSUR/USDT on OKEx reached 122, 60 and 94 respectively.

By the 8 p.m. on March 5th, INSUR/ETH is 1INSUR=0.00000346ETH.

Technology Development

Wallet
*Launching an insurance product for online payment in order to improving the online security;
*Modifying the user model, adding risk control status (Transferring and Mining) on users, adding security status;
*Fixing a hijacking bug caused by short links;
*Fixing verification bugs for iOS;
*Adding a health check for system and optimize user experience.

Optimizing of servers

Community

Community data update:
Weibo: subscribers (1209), new (89)
Telegram: members (1792), new (40)
Wechat assistant: friends (1954), new (177)

InsurChain official channels:
Homepage: www.insurchain.org
Twitter: @InsurChain https://twitter.com/InsurChain
Weibo: @InsurChain https://weibo.com/insurchain
Email: customer@insurchain.org
Wechat Assistant account: InsurChainAssistant
Wechat official account: InsurChain

Others
We are still recruiting HR, blockchain developers and smart contract developers. If you are interested in InsurChain and capable of doing the aforementioned tasks, you can contact our Wechat Assistant to learn more as well as inquiring about the recruitment or send your resume to ljd@insurchain.org.