Question 1

What is JUP used for?

Accepted Answer

JUP is primarily used within the Solana ecosystem for DeFi applications, NFT transactions, and as a medium of exchange due to its low fees and high speed.

Question 2

Why is RUNE important in THORChain?

Accepted Answer

RUNE is essential for THORChain's cross-chain liquidity protocol, enabling decentralized swaps between assets on different blockchains without relying on centralized exchanges.

Question 3

How can I trade JUP for RUNE?

Accepted Answer

You can trade JUP for RUNE on decentralized exchanges supporting the Solana and THORChain networks, ensuring secure and permissionless transactions.

Question 4

What are the benefits of using RUNE?

Accepted Answer

RUNE offers decentralized cross-chain liquidity, eliminating the need for intermediaries and providing users with greater control over their assets.

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 JUP (Solana) to RUNE (Thorchain)

Description

Frequently Asked Questions