Instadapp

Instadapp

INST
$2.33%0.40

Key Metrics

Price$2.33
Real Volume (24H)$85,245.54
Marketcap$41,761,917.43
Fully Diluted ValuationN/A
ATH$24.4
ATH Date6/16/2021, 11:02:32 PM
ATL$0.433662
ATL Date12/10/2022, 9:00:46 PM
Circulating Supply18M
Total Supply100M
WebsiteN/A
WhitepaperN/A
Popularity Rank762
Chart
What is Instadapp?

Instadapp (INST) is a smart wallet protocol that has been developed specifically for DeFi (decentralized finance) projects. It is designed to allow users, regardless of their financial experience, to easily access leading DeFi projects. The Instadapp protocol, or DSL, acts as middleware for these projects and helps users to access them in one central location - the INST dashboard. The ultimate goal of the Instadapp protocol is to enable users to manage multiple DeFi applications and optimize their funds across various protocols.

One of the key features of Instadapp is its aim to be a decentralized, open-source gateway protocol for the DeFi ecosystem. The platform has been designed to help users tackle complex tasks, such as leveraging or trading in single transactions, and acts as a bridge protocol that enables users to migrate debts between Compound Finance and Maker Vaults. The ecosystem has been designed with developers in mind, with a focus on building compelling use-cases that improve users' models for earning rewards, while also providing high reliability.

The DSL protocol is responsible for performing the main functionalities of account extensions and upgradeability. Additionally, the Instadapp ecosystem offers users four key functions: Leverage, which allows users to increase the capital they can trade with; Borrowing, which enables users to borrow instantly from the platform; Lending, which allows users to lend their cryptocurrency and earn interest on it; and Swap, which allows users to instantly exchange or swap Instadapp tokens from a Web3 wallet.

The INST token is the governance token used to cast votes and add value for the future development of the decentralized protocol. As such, the INST token aligns incentives with users, developers, and businesses to guide the future of Instadapp. Moreover, INST token holders can contribute towards determining the evolution and direction of the Instadapp platform.

Instadapp was founded by Sowmay Jain and Samyak Jain in the fall of 2019. In October of that same year, Pantera Capital led one of the first seed rounds conducted by the Instadapp ecosystem.

In conclusion, Instadapp is a smart wallet protocol that aims to streamline access to leading DeFi projects. Its ecosystem has been designed to be decentralized and open-source, providing users with a range of functions and features to optimize their funds across various protocols. With the INST token serving as the governance token, the Instadapp platform is well-positioned to guide the future of DeFi and continue to innovate in the space.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.

Try for Free

Top Assets

AssetPrice24HMcap
Loading...

We use cookies for personalization, social media, and analytics, and share usage data with partners.