Question 1

What is DAI?

Accepted Answer

DAI is a decentralized stablecoin backed by collateral and pegged to the US dollar, ensuring price stability.

Question 2

Why trade ETH on the BASE blockchain?

Accepted Answer

ETH on BASE offers faster transactions, lower fees, and seamless integration with decentralized applications.

Question 3

Is DAI safe to use?

Accepted Answer

Yes, DAI is secured by overcollateralization and smart contracts, ensuring transparency and reliability.

Question 4

What are the benefits of using BASE for ETH transactions?

Accepted Answer

BASE provides enhanced scalability, reduced gas fees, and a robust ecosystem for Ethereum-based assets.

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

Yes, Instaswap is fully decentralized (DEX), meaning all transactions occur directly on the blockchain without centralized intermediaries. We do NOT offer centralized exchange (CEX) swaps, and your funds always remain fully under your control through our non-custodial platform.

Swap DAI (Ethereum) to ETH Base

Description

Frequently Asked Questions