What is Instadapp?
Instadapp is a decentralized finance (DeFi) middleware platform that aggregates multiple DeFi protocols into a single interface, simplifying asset management and optimizing yield opportunities. Launched in 2018, Instadapp facilitates seamless interactions with various DeFi services such as lending, borrowing, and swapping by consolidating them into a unified platform. This approach enables users to manage complex DeFi positions efficiently without needing to navigate multiple platforms.
Instadapp's core innovation is its DeFi Smart Accounts (DSA), which are smart contract accounts that allow users to manage and optimize their assets across different DeFi protocols securely. DSAs enable users to execute multiple actions in a single transaction, enhancing efficiency and reducing the complexity of DeFi interactions. The platform supports integrations with major protocols like Aave, Compound, Maker, and Uniswap, providing users with a comprehensive toolset for managing their DeFi activities.
Instadapp also introduced Avocado, a smart contract wallet designed to improve user experience with features like batch transactions, unified cross-chain execution, and gas fee abstraction. This wallet supports over 15 EVM-compatible chains, ensuring broad compatibility and ease of use for DeFi participants.
Governance of the platform is handled through the INST token, allowing the community to propose and vote on protocol changes and improvements. This decentralized governance model ensures that the platform evolves according to the needs and preferences of its users.
Instadapp's latest development, Fluid, represents a significant advancement in lending protocols. Fluid aims to enhance capital efficiency and address liquidity fragmentation, offering features like higher loan-to-value ratios (LTV), optimized liquidation mechanisms, and smart collateral management.