Question 1

What is ONDO used for?

Accepted Answer

ONDO is primarily used within decentralized finance (DeFi) applications on the Ethereum blockchain, enabling smart contracts, token swaps, and liquidity provision.

Question 2

Why is DOT considered a key Web3 asset?

Accepted Answer

DOT is essential for Polkadot's cross-chain interoperability, enabling secure communication and data transfer between different blockchains, which is critical for Web3 development.

Question 3

Can I stake ONDO?

Accepted Answer

Yes, ONDO can be staked in various DeFi protocols on the Ethereum blockchain to earn rewards and participate in network governance.

Question 4

How does DOT ensure network security?

Accepted Answer

DOT uses a Nominated Proof-of-Stake (NPoS) consensus mechanism, where validators and nominators work together to secure the network and validate transactions.

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 ONDO (Ethereum) to DOT (Polkadot)

Description

Frequently Asked Questions