Exploring the Development Potential of Instadapp: Understanding the Mechanisms Behind Its Component Operations

Exploring Instadapp's Development Potential: Understanding Its Components

Instadapp is a DeFi protocol based on Ethereum that aims to make DeFi simpler and easier to manage. Cryptocurrency researcher Tindorr provides an overview of the Instadapp ecosystem, including Avocado, Instadapp Lite, and Instadapp Pro, based on personal usage experience.

1) Avocado: A wallet based on account abstraction, with main features including multi-chain support, allowing users to manage multiple cryptocurrencies in one wallet, with all gas fees paid in USDC. Avocado is also developing broader use cases through account abstraction, including recovery mechanisms and interoperability; 2) One-click strategy protocol “Instadapp Lite”: Allows users to implement DeFi strategies with one click, with the leveraged ETH collateral strategy currently offering 5.47% APY.

3) Protocol aggregator Instadapp Pro: Allows users to generate a DeFi smart account (DSA) that aggregates all blue-chip protocols on the chain, and provides frontend and functionality so that users do not need to visit multiple websites. In addition, Instadapp also provides cross-application debt refinancing, cross-chain transfers, and management permissions.

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4) Token economics: Instadapp’s governance token is INST. With the launch of the Avocado wallet, fees will be generated and transferred to the DAO treasury. INST holders recently voted to direct all revenue to the DAO treasury and discussed allocation and use. In addition, compared to other projects, the market cap / TVL ratio of INST is too low.

Reference: https://twitter.com/0xTindorr/status/1668298615742435329

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