Insolar — One Coin, Two Scams? – Crypto Vigilante Network
Comparing the ICO distribution with the proposal aside from the vesting issue, and dilution issue; the original ICO terms indicated that 20% of the 50 million INS would be kept for a “reserve fund.” However, the new proposal allocates 500 million in items that would have been paid for with the reserve fund while still giving the reserve fund a 1:10 swap ratio.
It’s not unreasonable to conclude this as double dipping. The reserve fund will be 200 million after the swap + another 500 million for the same stuff the the reserve fund was intended to pay for. INS holders go from controlling +/- 64 percent of network (including the team’s 15%) to controlling +/- 30 percent of the network. Control is still being seized by the Insolar team in a fashion not all that different from a 50% attack. Except, in this case, it’s by the team with the swap terms.
One can also note their new proposal doesn’t even mention the reserve fund, yet makes clear the swap is on the entire 50 million (20% of which is the reserve fund.) It’s almost like they’re hiding it… a sleight of hand.
Which leads us to this…
The above screenshot followed by token address shows us empirical evidence that Insolar team’s “reserve fund” has indeed already been sold and with no mention of the reserve fund in the recent swap publication — paints a pretty clear picture. For those who think they tokens may have been “moved”, I implore you to check each transaction as each 2M INS transfer leads to a wallet which then leads to 4 separate transactions to Binance.
As we can see from the screenshot above of txn’s from the founders reward wallet, another 15% of the total INS supply has moved. We can take a few guesses where these tokens have gone..