Question 1

What is ENA used for?

Accepted Answer

ENA is primarily used within decentralized applications and smart contracts on the Ethereum blockchain, providing utility in DeFi ecosystems.

Question 2

Why is ATOM valuable?

Accepted Answer

ATOM is valuable because it facilitates interoperability between blockchains, enabling seamless communication and data transfer across the Cosmos network.

Question 3

Can I stake ENA?

Accepted Answer

ENA is not typically staked, as it is designed for utility within Ethereum-based applications rather than staking mechanisms.

Question 4

How does ATOM support cross-chain transactions?

Accepted Answer

ATOM supports cross-chain transactions through the Cosmos SDK and Inter-Blockchain Communication (IBC) protocol, allowing different blockchains to interact securely.

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 ENA (Ethereum) to ATOM (Cosmos)

Description

Frequently Asked Questions