Instadapp update: INST Live price, price chart, news and markets

The INST price update as of now is $7.07. In the previous 24 hours, its trading volume was $607,852, and its value has decreased by -1.38%. As of now, INST's live market cap is $287,130,498, and it is ranked as the #220 on the Coincu. INST has a circulating supply of 100,000,000 and a maximum supply of 100,000,000.

What is Instadapp?

Instadapp is a platform that empowers users and developers to fully utilize the potential of DeFi. It offers a user-friendly smart wallet that integrates popular DeFi projects like Marder DAO, Compound, and Uniswap. This allows users to efficiently manage their assets and interact with various dApps on a single platform.

By leveraging Instadapp, users can execute complex actions such as buying or selling collateral in a single transaction. The platform ensures that users always get the best market price and lowest cost when swapping assets.

To access the Instadapp portal, users need an Ethereum web3 wallet such as MetaMask, Coinbase wallet, or Trust wallet. They can conveniently manage all their digital assets from the Instadapp dashboard. Additionally, the platform does not charge any transaction fees, although users need to have enough gas to initiate transactions.

On the Instadapp platform, users can engage in four main activities:

• Lending - Deposit your crypto and earn interest on it
• Borrow - Instantly borrow funds directly from the Instadapp dashboard
• Leverage - Increase your trading capital
• Swap - Instantly exchange tokens from your web3 wallet

The Instadapp Protocol (DSL)

The Instadapp Protocol (DSL) acts as a middleware that combines multiple DeFi protocols into a single layer. DSL accounts are highly scalable and offer new functions, modular and interoperable accounts, and specialized iterations that increase lending capacity and generate automatic profits from idle assets.

DSL consists of a "default layer" that caters to both users and developers, similar to the existing interaction with Instadapp. It also serves as a hub for creating extensions and unique "layers" that enable actions currently not feasible in DeFi. This unlocks new possibilities for DeFi and smart contract use cases.

• Flashloan Extension: Users and developers can technically obtain flashloans worth billions of dollars from any token in any whale's DSL account.
• Optimizer Extension: Users can utilize their idle collateral to earn additional income through treasury management.
• Authorization Extensions: Highly detailed and modular authority management can be assigned to different addresses.
• Market Creation Extension: Users can create limit orders across multiple protocols to create unique "DeFi positions".
• Automation Extensions: Users can automate their DeFi positions by granting limited permissions to execute certain functions.
• Layer 2 Extension: Users can easily move their positions from layer 1 to layer 2 and vice versa.

DSL simplifies the aggregation of DeFi protocols and reduces complexity for users and developers. This brings several benefits to the growth of DeFi, including:

• Instant javascript access to all DeFi protocols without smart contract implementation.
• Easy development of important features like social recovery and custom permissions.
• Aggregation of liquidity across smart accounts and underlying protocols for fast loans.
• Creation of new revenue streams and networks by automating or assisting users in delegating their DeFi operations and adding fee structures.

L2 Adoption

Instadapp introduced the DeFi Smart Layer to facilitate seamless migration between selected layer 1 (L1) and layer 2 (L2) solutions. This includes migration between different L2 solutions as well.

The Instadapp protocol addresses the challenges associated with migration by allowing users to effortlessly migrate their content and utilize L2 solutions while maintaining the same user experience. Additionally, Instadapp aims to bridge liquidity by aggregating various lending and swap protocols, enabling users to transfer unused liquidity to L2 effortlessly.