Question 1

What is SAND used for?

Accepted Answer

SAND is used to buy virtual assets, participate in governance, and engage in play-to-earn activities within The Sandbox metaverse.

Question 2

Why trade ETH on the BASE blockchain?

Accepted Answer

ETH on BASE offers faster and cheaper transactions compared to Ethereum mainnet, making it suitable for DeFi, NFTs, and dApps.

Question 3

Is SAND compatible with other blockchains?

Accepted Answer

SAND is primarily an ERC-20 token on the Ethereum blockchain, but it can be bridged to other chains for interoperability.

Question 4

What are the benefits of using BASE for ETH transactions?

Accepted Answer

BASE provides lower gas fees, faster transaction speeds, and seamless integration with Ethereum's ecosystem, enhancing user experience.

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 SAND (Ethereum) to ETH Base

Description

Frequently Asked Questions