Question 1

What is DAI?

Accepted Answer

DAI is a decentralized stablecoin backed by collateral and pegged to the US dollar, providing stability in volatile markets.

Question 2

What is AVAX used for?

Accepted Answer

AVAX is used for transaction fees, staking, and securing the Avalanche network, as well as powering decentralized applications.

Question 3

Why trade DAI for AVAX?

Accepted Answer

Trading DAI for AVAX allows users to access the Avalanche ecosystem while maintaining exposure to a stable asset.

Question 4

Is AVAX a good investment?

Accepted Answer

AVAX's potential lies in its fast transaction speeds, low fees, and growing ecosystem, making it attractive for long-term growth.

Question 5

Do I need KYC to use Instaswap? How are transactions secured?

Accepted Answer

No, Instaswap does not require KYC (Know Your Customer) for any swap amount or pair. However, we employ an advanced KYT system powered by a trusted third-party partner. This system automatically checks wallet addresses involved in transactions, ensuring they haven’t previously been flagged for illicit activities, keeping your swaps safe, secure, and private.

Question 6

Is Instaswap decentralized? Does it support centralized (CEX) swaps?

Accepted Answer

Instaswap is a non-custodial DEX aggregator: swaps settle on-chain through decentralized liquidity protocols, and we do NOT offer centralized exchange (CEX) swaps, accounts or balances. Funds in transit move under predefined, non-discretionary rules, with your refund address fixed before you deposit.

Swap DAI (Ethereum) to AVAX (Avalance)

Description

Frequently Asked Questions