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 RUNE used for?

Accepted Answer

RUNE powers the THORChain network, facilitating cross-chain swaps and providing liquidity for decentralized trading.

Question 3

Why trade DAI for RUNE?

Accepted Answer

Trading DAI for RUNE allows users to access cross-chain liquidity and participate in decentralized finance (DeFi) opportunities.

Question 4

Is RUNE a good investment?

Accepted Answer

RUNE's value is tied to the growth of THORChain's ecosystem, making it appealing for those interested in cross-chain DeFi solutions.

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 RUNE (Thorchain)

Description

Frequently Asked Questions