Question 1

What is RUNE used for on the THOR blockchain?

Accepted Answer

RUNE is used to facilitate liquidity provision, cross-chain swaps, and governance within the THORChain ecosystem.

Question 2

Why is BNB popular on the Binance Smart Chain?

Accepted Answer

BNB is popular due to its utility in paying transaction fees, staking for rewards, and accessing a wide range of decentralized applications.

Question 3

Can I trade RUNE for BNB directly?

Accepted Answer

Yes, RUNE can be traded for BNB directly through supported decentralized exchanges or cross-chain swap platforms.

Question 4

What are the benefits of trading RUNE/BNB?

Accepted Answer

Trading RUNE/BNB provides access to two leading blockchain ecosystems, enabling liquidity, cross-chain functionality, and diverse use cases.

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 RUNE (Thorchain) to BNB (Binance Smart Chain)

Description

Frequently Asked Questions