The Instadapp platform is a full feature platform for both users and developers to leverage the full potential of DeFi. The Instadapp protocol (‘DSL’) acts as the middleware that aggregates multiple DeFi protocols into one upgradable smart contract layer. This structure allows Instadapp to access the full potential of Decentralized Finance.
Instadapp main functionalities of the DSL are account extensions and upgradability. The unique upgradability means that the upcoming and new extensions will be upgraded, maintained and managed by INST governance. The DSL also includes a new operability layer that acts as a ‘Account Extension.’
These extensions allow the user to access new and unique functionality for their DSL account. These extensions and the evolution of the platform form a DeFi hub through which new use cases and extensions can be created, some examples of possible use cases include: Flash Loan Module, Authority extension, L2 extension, etc.
Instadapp is airdropping a total of 11,000,000 INST to Maker, Compound & Aave users on mainnet and also to Aave users on Polygon. The snapshot of mainnet users was taken at block number #12644000 and the snapshot of Polygon users was taken at block number #15773000. Eligible users will be able to claim free INST based on the net value of a user’s position.
If you’re eligible, then you will be able to claim free INST tokens.
Users who were managing DeFi positions on Maker, Compound or Aave on mainnet and Aave positions on Polygon are eligible to claim the airdrop.
The snapshot of mainnet users was taken at block number #12644000 and the snapshot of Polygon users was taken at block number #15773000.
The number of tokens a user receives will depend on the net value of the user’s position.
The rewards can only be claimed if you upgrade your account to DSA v2 on Instadapp.
Users who were managing their positions directly on Maker, Compound or Aave need to create an Instadapp DSA account and import their positions to claim the airdrop.
Users who were managing their positions through Instadapp will have their net value counted double while calculating the distribution chart.
For more information regarding the airdrop, see this post.
To walk through the entire process of installation and interacting with the DeFi Smart Layer (DSL), get started with Installation. Explore the sidebar to find more developer specific documentation covering all the aspects of the protocol.
DeFi Smart Accounts
Instadapp Smart contract account owned by the users to manage & optimize funds across any number of protocols.
They ensure that the system is 100% trustless and only you’ve access to your funds.
Build for developers
Designed for developers to build extensible use-cases and models with maximum security.
Instadapp Build compelling use-cases and monetize their models to earn money by serving your users with high reliability.
Start with your own use case
Open to all developer team sizes
How Smart Accounts work: The Execution trace
Interacting with the new DSL Accounts:
While calling a function, users interact with their Smart Account.
The smart account contract uses a fallback function to fetch the address of the Extension Module to call via Implementation – contract using (msg.sig) of the function called by the user.
Once the address is fetched, our smart account uses it to obtain the implementation code and runs it.
Instadapp mapping of Function sigs to extensions will be added by the INST governance. Instadapp team is focused on building and excited for community collaboration on extending the smart account capabilities. In the meantime, developers can begin playing with Extension Module 1 today!
Governance Category covers all governance related topics such as proposed changes to the Instadapp platform, submitting upgrades and other decisions governed by the community. This is a preliminary setup for how governance will be organized and structured; this process should be reviewed and updated by the community as needed. Engage with the Community Token holders are encouraged to engage.
Instadapp’s Governance Token
Instadapp’s governance token INST fulfills the tenet of decentralization. The INST token will align incentives with users, developers and businesses to provide stewardship of Instadapp’s future. The INST tokenholders will determine the evolution and direction of the Instadapp platform.
INST Tokenholders will govern:
The Authority Framework opens the DeFi Smart Account to new use cases with modular account authorisation and contract specific permissions. Developers can create new use-cases around idle assets in DSA accounts, find ways to provide yield or increase capital efficiency by developing new liquidity pathing or build automated account managers.
Contract upgrades are executed and managed by the governance token contract, token holders will vote on system upgrades, platform parameters and other code changes.
Liquidity and Bridges
Instadapp maintains multiple bridges and liquidity sources for refinancing and cross-chain asset management, token holders will govern the decisions and evolution of these liquidity sources.
Token holders will manage the allocation of Ecosystem funds and the DAO’s treasury to be utilised for building partnerships, liquidity, integrations and any other funding that maybe needed by the DAO and community.
Instadapp DeFi Smart Layer allows for new use cases to be built upon the DeFi Smart Accounts. DSA can access additional modules that bring new functionality to the accounts, such as a yield seeking extension, or an extension that utilizes DSA liquidity for additional purposes. Governance will manage how extensions are added to the Instadapp platform.
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.