Question 1

What is ENA used for?

Accepted Answer

ENA is primarily used for interacting with decentralized applications and smart contracts on the Ethereum blockchain, offering flexibility and security.

Question 2

What makes RUNE unique?

Accepted Answer

RUNE is unique for its role in facilitating cross-chain liquidity and decentralized trading, allowing users to swap assets across different blockchains seamlessly.

Question 3

Can I stake ENA or RUNE?

Accepted Answer

While ENA is not typically staked, RUNE can be staked to participate in THORChain's liquidity pools and earn rewards.

Question 4

Is this trading pair suitable for beginners?

Accepted Answer

Yes, this pair is beginner-friendly, offering exposure to both Ethereum-based assets and cross-chain liquidity solutions with RUNE.

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 ENA (Ethereum) to RUNE (Thorchain)

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Frequently Asked Questions