Question 1

What is MKR used for?

Accepted Answer

MKR is used for governance in the MakerDAO ecosystem, allowing holders to vote on proposals and manage the DAI stablecoin system.

Question 2

Why trade ETH on Arbitrum?

Accepted Answer

ETH on Arbitrum provides faster and cheaper transactions compared to Ethereum mainnet, making it suitable for DeFi and other scalable applications.

Question 3

How does MKR governance work?

Accepted Answer

MKR holders vote on proposals to adjust parameters like stability fees and collateral types, ensuring the stability and growth of the DAI ecosystem.

Question 4

What are the benefits of using Arbitrum?

Accepted Answer

Arbitrum offers Ethereum-compatible scalability with lower fees and faster transaction speeds, enhancing user experience for DeFi and dApps.

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 MKR (Ethereum) to ETH Arbitrum

Description

Frequently Asked Questions