INS Ecosystem, the decentralized grocery marketplace, today announced its INS token has been listed on the cryptocurrency exchange Binance. Available for trading immediately, the INS listing is supported by BTC and ETH pairings. The announcement follows INS Ecosystem’s $41.5 million USD token sale in December 2017.
Aiming to disrupt the $8.5 trillion USD global grocery market, INS Ecosystem was founded by Peter Fedchenkov and Dmitry Zhulin and is set to pilot in 2018. The platform connects manufacturers directly with consumers with an aim to allow manufacturers to market and sell their products directly to consumers, and in turn, save consumers up to 30 per cent. With INS Ecosystem, manufacturers can reward customers across the marketplace with INS tokens, creating direct and personalized loyalty programs that drive customer lifetime value.
“The support of a global community is paramount as INS Ecosystem works towards transforming the grocery sector and driving change,” Mr. Fedchenkov said. “Encouraged by the fifth largest Telegram community of any blockchain project and over 20,000 participants in our token sale last month, our pursuit of widespread adoption took a major step forward today with the listing of INS on the industry’s largest exchange.”
Launched in July of 2017, Binance offers users a secure and highly liquid marketplace for cryptocurrency trading in major coins such as BTC, ETH, LTC, and BNB. With a certified matching engine capable of processing 1,400,000 orders per second, Binance is one of the fastest exchange in the market today.
“Since its inception, Binance has strived to offer our users the chance to take part in the most exciting projects in the space,” Binance business development director Yingqi Ouyang said. “INS Ecosystem’s compelling long-term vision, and the relentless passion of its growing community, make it a perfect example of a token that Binancians will want to get a hold of.”
The INS Ecosystem token sale finished on Dec. 25, 2017 after the 60,000 ETH ($41.5 million USD at the time of close) hardcap was reached. The INS Ecosystem token serves as a method to power direct manufacturer to consumer loyalty programs and can also be used as a means of payment.
“A vote of confidence in our project, today’s listing on Binance is a key factor in driving the growth, development, and adoption of our platform,” Mr. Fedchenkov said. “With an ambitious roadmap and an equally ambitious end goal, we are excited and eager to continue on our journey to transform and enhance the consumer-brand relationship across the globe.”