INST Instadapp

What is Instadapp?

Instadapp is a decentralized finance (DeFi) platform that integrates multiple DeFi protocols into one platform for easy asset monitoring and management. It allows users to manage their funds across different protocols through a single interface.

Key Features of Instadapp

• DeFi Smart Accounts (DSAs): Instadapp uses DSAs to enable users to manage, delegate, and optimize funds from various protocols. Developers can build on top of DSAs to facilitate cross-protocol transactions.
• Integrated Protocols: Instadapp integrates with leading DeFi platforms such as MakerDAO, Compound Finance, and Uniswap. This integration allows users to:
  • Lend and Borrow: Through Compound Finance, users can lend cryptocurrency to earn interest or borrow funds using supported crypto assets as collateral.
  • Swap Tokens: With Uniswap, users can swap tokens without a third-party entity and manage liquidity pools.
  • Create Collateralized Debt Positions (CDPs): Through MakerDAO, users can lock supported crypto assets as collateral to generate DAI, a stablecoin.
• User Interface: Instadapp provides a simple and intuitive interface for users to interact with these protocols, making it easier to manage DeFi assets.

Benefits of Using Instadapp

• Simplified Asset Management: Instadapp offers a one-stop platform for managing DeFi assets, making it easier for users to track and manage their funds.
• Cross-Protocol Transactions: The platform enables seamless transactions across different DeFi protocols, enhancing user experience and efficiency.
• No Transaction Fees: Instadapp does not charge fees for processing transactions, though users need to ensure they have enough gas for transactions.

Additional Information

• Market Presence: Instadapp has seen significant growth with billions of dollars locked in its smart contracts and has raised a seed round of $2.4 million from notable venture capitalists.
• Governance Token: Instadapp has a governance token, $INST, which allows token holders to submit and vote for proposals, contributing to the platform's development and growth.

Pros of Instadapp

• All-in-One Platform: Instadapp is a comprehensive asset management platform that integrates various DeFi protocols into one interface, making it easier for users to manage their assets across different platforms.
• Easy Asset Management: It simplifies the process of lending, borrowing, swapping, and managing liquidity pools by providing a single dashboard for all these activities.
• Non-Custodial Wallets: Instadapp uses non-custodial wallets, ensuring that users have full control over their funds at all times.
• Smart Contracts: It utilizes smart contracts to execute transactions, providing a secure and transparent way to manage assets.
• Cross-Protocol Transactions: Instadapp allows for cross-protocol transactions, enabling users to leverage their assets across different DeFi platforms.
• Multi-Chain Support: It supports multiple blockchain platforms, including Ethereum, Polygon, Avalanche, Arbitrum, Fantom, and Optimism, offering flexibility and broader access to DeFi services.

Cons of Instadapp

• Limited to Ethereum Ecosystem: Initially, Instadapp was limited to the Ethereum ecosystem, which could be restrictive for users looking to interact with other blockchain platforms. However, it has since expanded to support multiple chains.
• Gas Fees: Users need to pay gas fees for transactions on the Ethereum network, which can be high during peak times.
• Complexity for New Users: While Instadapp simplifies asset management, the underlying DeFi protocols and smart contracts can still be complex for new users to understand.
• Dependence on Integrated Protocols: The functionality and stability of Instadapp can be affected by the performance and security of the integrated DeFi protocols.

Founders of Instadapp

Instadapp was founded by two brothers, Sowmay Jain and Samyak Jain, at ETHIndia in August 2018. They launched Instadapp on the Ethereum mainnet in December 2018.

Investors in Instadapp

Instadapp has secured funding from various prominent investors. Here are some of the key investors:

• Venture Capital Firms:

  • Pantera Capital: A leading venture capital firm in the crypto space.
  • Standard Crypto: Known for investing in innovative blockchain projects.
  • IDEO CoLab Ventures: Focuses on early-stage investments in blockchain and crypto startups.
  • Coinbase Ventures: The venture arm of Coinbase, a major cryptocurrency exchange.
  • Robot Ventures: Invests in cutting-edge blockchain and crypto projects.
  • LongHash Ventures: A global blockchain investment firm.
  • Lattice: A venture capital firm with a focus on blockchain and crypto investments.

• Angel Investors:

  • Balaji Srinivasan: A well-known angel investor in the crypto space.
  • Naval Ravikant: A prominent angel investor with a focus on blockchain and crypto projects.

• Incubators and Accelerators:

  • Alliance DAO: An incubator and accelerator for blockchain and crypto startups.

These investors have contributed to Instadapp's funding rounds, including a Series A round that raised $10M and a seed round that raised $2.4M.

No, Instadapp is not inherently halal. The reason is that Instadapp is a DeFi platform that does not specifically focus on Sharia-compliant investments, unlike platforms such as Saraf Screening and IslamicCoin, which are designed to adhere to Islamic law principles.