Question 1

What is DAI?

Accepted Answer

DAI is a decentralized stablecoin pegged to the US dollar, backed by collateral and maintained through smart contracts on the Ethereum blockchain.

Question 2

What is CACAO used for?

Accepted Answer

CACAO powers the MAYA blockchain, enabling DeFi applications, governance participation, and seamless cross-chain transactions.

Question 3

Why trade DAI for CACAO?

Accepted Answer

Trading DAI for CACAO allows users to access the MAYA ecosystem, leveraging its DeFi tools and cross-chain capabilities while maintaining stable value.

Question 4

Is CACAO a stablecoin?

Accepted Answer

No, CACAO is not a stablecoin; it is the native utility token of the MAYA blockchain, used for transactions, governance, and ecosystem participation.

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 CACAO (Mayachain)

Description

Frequently Asked Questions