This article is about what is INST crypto token. INST is the native token of Instadapp, a platform that simplifies and optimizes DeFi management.
What is INST Crypto Token?
INST is an ERC-20 token that represents the governance rights of Instadapp. This means that INST holders can propose and vote on changes to the Instadapp protocol, such as adding new features, adjusting fees, integrating new DeFi protocols, and more. INST holders can also delegate their voting power to other users or entities, such as developers, experts, or community leaders.
INST also enables users to access the Instadapp DeFi Smart Accounts (DSA), which are non-custodial wallets that allow users to interact with multiple DeFi protocols from a single interface. Users can create and manage their own DSAs, or join existing ones created by other users or entities. By using DSAs, users can benefit from lower gas fees, higher security, and more flexibility.
To use a DSA, users need to deposit a minimum amount of INST into it. The deposited INST serves as a collateral that secures the DSA and enables borrowing from supported DeFi protocols. The deposited INST also earns interest from the Instadapp Treasury, which collects a portion of the fees generated by the Instadapp platform. Users can withdraw their INST at any time, as long as their DSA is not undercollateralized.
INST has a fixed supply of 100 million tokens, of which 55% are allocated to the community, 25% to the team and advisors, 15% to investors, and 5% to the Instadapp Foundation. The community allocation is distributed over four years through various mechanisms, such as liquidity mining, staking rewards, grants, bounties, and airdrops. The team, advisors, and investors allocations are subject to vesting periods ranging from one to four years.
INST is currently traded on several exchanges, such as Uniswap, Sushiswap, Coinbase Pro, and Binance. You can also buy INST directly from the Instadapp app using ETH or any supported stablecoin. To learn more about INST and Instadapp, you can visit their website at https://instadapp.io/ or join their Discord server at https://discord.gg/instadapp.
What is Instadapp DeFi Hub?
Instadapp DeFi Hub is a new feature that Instadapp launched in October 2021. It is a unified interface that lets you access the best DeFi services from one place, without having to switch between different apps or websites. You can think of it as a DeFi aggregator that connects you to the most popular and innovative protocols in the space.
With Instadapp DeFi Hub, you can:
- Borrow, lend, swap, and earn interest on various crypto assets, such as ETH, DAI, USDC, WBTC, and more.
- Optimize your portfolio performance by using smart strategies that automate your actions and save you gas fees.
- Explore new opportunities and discover new protocols that suit your needs and preferences.
- Manage your risk and exposure by using advanced tools such as flash loans, debt refinancing, and limit orders.
- Create your own custom DeFi dashboard that shows your balances, transactions, and analytics.
Instadapp DeFi Hub is designed to be user-friendly, secure, and flexible. You don't need to create an account or provide any personal information to use it. You just need a web3 wallet, such as MetaMask or WalletConnect, to connect to the platform. You can also choose which network you want to use, such as Ethereum mainnet, Polygon, or Arbitrum.
Instadapp DeFi Hub is not only a platform for users, but also for developers. It offers a powerful SDK (software development kit) that allows developers to build their own DeFi applications on top of Instadapp's infrastructure.
Bottom Line
In this article, we have discussed what is INST crypto token. Developers can leverage Instadapp's smart contracts, APIs, and UI components to create innovative solutions for the DeFi ecosystem.
