Topic: InstaDApp Project Analysis (Read 61 times)

Instadapp

Instadapp is a DeFi aggregator that operates primarily on its portal website. The Instadapp protocol (DSL) is the core of the project. It serves as the middleware in DeFi and can aggregate multiple DeFi protocols into an upgradeable smart contract layer.

A DeFi aggregator refers to the platform that aggregates transactions, loans, management, insurance, and other businesses in the DeFi market. It is essentially the front end of a centralized DeFi ecosystem and can significantly reduce the entry threshold for users, especially non-technical users.

The main functions of DSL are account extensions and upgradability. The unique upgradability means that upcoming and new extensions will be upgraded, maintained, and managed by INST governance. The DSL also includes a new operational layer that acts as an “Account Extension”. These extensions allow users to access new and unique features of their DSL accounts. The evolution of these extensions and platforms forms a DeFi Center through which new use cases and extensions can be created. Some examples of possible use cases include flash modules, permission extensions, L2 extensions, and others.

The currently integrated DeFi protocols include Maker, Aave, Compound, and Uniswap. Users can trade in InstaDApp and manage their own LP (Liquidity Pools) in Uniswap, while lending the LP to leverage financing in the platform-supported lending protocols.

InstaDApp connects its products to assets held by users on various DeFi platforms and keeps obtaining the prices in order to display them on the operating interface. Before InstaDApp, users were required to manually write down the prices on each platform to find out the optimal interest rates, loans, and others. At the same time, when the user determined the optimal asset management position, previously a series of complex transactions were needed to transfer assets, and these steps were needed to be completed on each platform. InstaDApp hands over operations such as user transfer of assets to a smart contract designed for automatic execution. Currently, no fees are charged. Users only need to provide the funds to pay for the transfer of assets.

InstaDApp stores all transactions and assets in a contract wallet (DSA) that is fully managed by smart contracts. All data is publicly visible and InstaDApp does not hold any of the user’s assets.

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