Step-by-Step Guide to Swap Tokens on InstaDApp.

Vishva Dave
Dec 23, 2018 · 6 min read

InstaSwap is powered by Kyber’s on-chain liquidity protocol to provide the fastest and easiest way to securely buy and sell tokens through a simple, decentralised manner.

Note that in order to use InstaDApp Trade, you must be connected to your own Ethereum wallet. You must also have deposited funds into that address.

A step-by-step guide to use InstaSwap:

Make sure you have a web3 client like Metamask Plugin or DApp browsers. Once you’re connected successfully, you’ll see the “Connected” status as shown below.

Using Metamask — Before to using InstaDApp Trade, make sure you’ve deposited the number of tokens you wish to swap into your Metamask Account. You will be able to see the current value of tokens you own in $USD and in ETH.

Using a Hardware Wallet (Ledger / Trezor) — Connect your hardware wallet to your computer, using Metamask inbuilt integration, connect to your respective wallet.

Find out more here!
  • Type in your passcode and unlock your wallet.
  • Before using InstaDApp Trade, make sure you’ve sufficient funds in your specific wallet.

If you’re unable to connect to your Metamask account properly, you’ll see the proper error messages. Please try reconnecting your Metamask account, try refreshing or reach us out on Telegram or Twitter.

InstaSwap.

Once you’re connected to your respective wallet address through Metamask, Ledger or Trezor, you’re allowed to swap tokens seamlessly.

  1. Current Value ($) — This is the total amount of funds you hold in dollars.

2. Current Value (ETH) — This is the total amount of funds you hold in ETH.
Token — This is a list of tokens, where you can search for your desired tokens.

3. Tokens — The list of tokens that are available for trade.

4. Weightage (%) — The percentage of each token in your wallet.

5. Price ($) — Up to date market value of tokens.

6. Quantity — The amount of a particular token you own.

7. Value ($) — The value of the amount of particular token you own in USD.

8. Allowance — By turning Allowance on for a particular token, you are willingly granting permission to the smart contract to transfer up-to a specified amount of token on your behalf.

9. Trade — Here you can Buy or Sell your tokens.

Note: Before you try to Buy or Sell any tokens on InstaDApp, you have to provide allowance. If you do not provide an allowance, you will receive this message before carrying out any trade.

Click on Approve and then confirm your approval by clicking submit on the Metamask notification that comes up.

Once, you’ve provided the allowance, you’ll receive the following message which means you’ve granted permission to the InstaDApp contract to swap your tokens. Keep checking your transaction status on Etherscan before you make the trade.

Now, you’re good to go!

Click on BUY or SELL, and then add the Quantity you wish to swap. You have access to swap with either ETH or DAI which are the quote currency. Click on “Execute Trade” to confirm. You’ll receive a metamask notification confirming your trade, click submit to confirm it.

A percentage of the Minimum Acceptable Rate is also shown which guides you during volatile times by setting the lowest conversion rate you would accept for this transaction. Remember, setting a high value may result in a failed transaction and you would be charged gas fees. Our recommended Minimum Acceptable Rate is 97%.

You will now be able to view your transaction on etherscan.

After the transaction gets mined on blockchain, the balance will get updated or refresh the page in case it delays.

What is Token Allowance exactly?

To ensure secure and safe standards of transfer across the ecosystem, one of these standards is the Erc20 Token Allowance Permission. It is merely a permission that needs to be granted to a Decentralised Exchange (InstaDApp) by token owners (you) before those smart contracts can execute. The Allowance Permission gives us the right to facilitate a transaction with the owners token.

Remember: Setting Allowance does not mean you’re giving your tokens to us. We do not have custody of any of your assets. All it means is you are willingly allowing the smart contract to transfer up-to a specified amount of a token on your behalf.

How are my trades secured?

All InstaDApp operations are administered on smart contracts, which means all transactions are trackable and irreversible. Smart contracts have a predetermined logic which is formulated with accuracy and precision, which can be reviewed publicly. You can always check your transaction history on etherscan because all transactions are recorded on the blockchain.

Remember: We do not hold any of your tokens, we’re not custodians of any of your assets.

Supported Devices and Browsers.

InstaDApp is completely operational on all browsers connected to a web3 client such as Metamask and other functional wallets such as Cipher, Status, TrustWallet etc. InstaDApp is functional on all devices: phone, tablet, desktop, and laptops.

Tokens Supported.

At the moment of our launch, 35 tokens are listed on InstaDApp namely: ETH, DAI, KNC, SNT, ALF, POWR, MANA, BAT, REQ, RDN, APPC, SALT, AST, RCN, ZIL, LINK, SUB, MKR, DGX, IOST, STORM, ABT, AE, CVC, REP, POLY, DTA, BNT, TUSD, LEND, BNB, ZRX, WETH, QKC, OCN.

How much do we charge?

We charge absolutely nothing right now. At the moment, there are no platform fees for InstaDApp users. The only fee drawn is the gas fee needed to pay for the transaction on the Ethereum network.

Note: Your wallet address must hold a certain amount of ETH in order to pay for the gas fee.

About InstaDApp

InstaDApp is a protocol aggregator, providing a single DApp to interact with multiple protocols in a simplified yet diversified user-experience. InstaDApp intends to provide all in one, blockchain finance.

Feedback and Queries are Welcome!

At InstaDApp, we are continuously assisting people to get educated about how rapidly this technology is taking over the financial industry. Everything will connect like never before. Reach out to us through Telegram, Twitter or by email. We respond instantly!

Main Website — https://instadapp.io

InstaDApp Swap —https://instadapp.io/dapp/swap/

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InstaDApp

Trustless Smart Wallet for DeFi.