InsurChain testnet was launched on July 8th and has been running steadily. In order to prepare for the conversion, as well as providing better user experience, we are going to upgrade the present InsurChain smart contract on Ethereum. New contract will be named as InsurChain2.0, and its symbol will stay as INSUR. The total supply, price precision and token distribution will all stay unchanged.
INSUR tokens stored in crypto exchanges and InsurBox will be automatically pgraded and no actions are required from users.
INSUR deposited in crypto wallet will be mapped 1:1 to new INSUR. Certain wallets (e.g. MEW) need users to manually input the address for new contract.
Upgrade period: From 16:00:00 Aug. 5th (UTC/GMT+0). It takes about one day. In order to avoid unnecessary errors, DO NOT make transactions and keep your INSUR in exchanges and crypto wallets during the upgrade. We will release announcement at once when the upgrade is completed.
During the upgrade, the deposit/withdraw of INSUR will be suspended in exchanges. And they will be reopened after the upgrade.
- To avoid block jams, users need to stop all transfer actions 6 hours before the upgrade and make sure all transfers have been confirmed. The delivery of new INSUR will match the address of photo shot.
- Old INSUR tokens will be invalidated when the photo shot is taken. It will no longer has any values and will not be valid for conversion when mainnet is launched. Old INSUR might be nullified to avoid security exposures.
- Users need to use new INSUR token to make deposit and withdrawals after the upgrade is completed.
- Upgrade and mapping are estimated to be completed in one day. Extra time might be needed if network jam or other situations happen. Please see the notice in our official webste to know the exact time.