November 26, 2016 — Insane Coin announces burn of 3,700,000 coins after re-branding and coin swap.
Initially launched as TrumpInsane on September 2016, Insane Coin went through a community takeover and, after a complete re-branding and coin swap, it has been successfully relaunched with the brand/ticker Insane.
The new Insane is a X11 PoS coin, ticker $INSANE, with first 14,000 blocks also allowed to be mined via PoW. Total coin supply is just over 22,000,000.
After the coin swap phase had been successfully completed, the development team decided to reduce the amount of coins in existence and announced the burning of 3,700,000 coins for December 1, 2016. The burned coins will be part unswapped coins and part of a quota coming from the development fund. The burned coins will be approximately 17% of the total supply.
Coin Market Cap: http://coinmarketcap.com/currencies/insanecoin/