View source for Fluid (FLUID)

Fka InstaDapp. From [https://medium.com/instadapp/seed-round-503b689fc71c their blog] (1-10-2019):

''"[https://instadapp.io/ InstaDApp] is a [[DeFi]] portal that aggregates the major protocols using a smart [[wallet]] layer and [[bridge]] [[contracts]], making it easy for users to make the best decisions about assets and execute previously complex [[transactions]] seamlessly."''
== Basics: ==

*Based in: India
*Started in / Announced on: [https://defipulse.com/instadapp 8-2018]
*[[Mainnet]] release: [https://defipulse.com/instadapp 12-2018]
*[https://defipulse.com/instadapp From] [[DeFi Pulse]] (23-2-2021):

''"[[InstaDApp]] is a smart wallet with an intuitive interface built on top of popular DeFi projects like [[MakerDAO]], [[Compound]], [[Uniswap]], etc. for managing assets. It’s optimized for users lacking advanced technical or financial experience. InstaDApp allows users to perform complex actions like leveraging or saving by buying or selling collateral in a single transaction. One of InstaDApp's most popular features is its [https://instadapp.io/bridge/ Bridge] which allows users to migrate debts between [[Maker]] Vaults and Compound Finance. Other features include the [[option]] to [[LEND|lend]] assets or add [[liquidity]] to Uniswap pools."''

== History ==
* Fka InstaDapp, but Launched Fluid, which led them to also rebrand as a whole to Fluid (FLUID) end of 2024.
*From [https://medium.com/instadapp/seed-round-503b689fc71c their blog] (1-10-2019):
''"Ever since we were in our teenage years, we have started participating in the Indian stock market and discussing finance on blogs and forums like Quora, generating millions of hits to date. We then went on to building software to simplify stock market investing and investing in crypto.''

''Eventually, we dropped out of school to become full-on “native defi”. A big reason was we realized that the traditional finance systems we were studying in school were slow to innovate, extremely restrictive, tightly controlled by financial giants, and bound by geographical constraints.''

''Ever since these realizations, we began shifting our efforts from traditional fintech and markets into the open world of [[decentralized finance]]. After participating and winning EthIndia one year ago, we received a grant from Kyber Network to start work on what will become Instadapp today."''

== Audits & Exploits ==
* No bug bounty according to [[Blockchain Security DB]] (29-6-2020), which does show 1 [https://consensys.github.io/blockchainSecurityDB/ audit] (9-2019). [https://www.defisafety.com/app/pqrs/65 Update]: Instadapp's [[bug bounty]] program rewards up to $50,000 and is [https://immunefi.com/bounty/instadapp/ active] (21-9-2021). 
*Scored [https://www.defisafety.com/app/pqrs/463 85%] on [[DeFi Safety]] (30-8-2022):
''"As per the SLOC, there is 393% testing to code (TtC). InstaDapp displays test reports in their GitHub Actions tab, such as [https://github.com/Instadapp/dsa-contracts/runs/8120748031?check_suite_focus=true here]. InstaDapp has not undergone [[Formal Verification|formal verification]]. While Peckshield's V2 version seems to be the most recent audit available, there are only 1 audit performed before deployment of the current version of InstaDapp. The other audits [https://github.com/Instadapp/dsa-contracts/tree/master/audits such] as [[Samczsun|Samczsun's]] do not provide enough information to confirm subsantial auditing."''
*Previously scored 72% (21-9-2021), with the [https://t.me/c/1453353094/5458 comments]:
''"What's in the audit report?''

''PeckShield’s most recent audit was conducted in March, 2021 and found 1 medium risk and 1 low risk issue. They found Instadapp to be well organised and that the issues identified had been dealt with. This audit is very short, at barely 15 pages. Overall, Instadapp’s smart contracts were perceived to be safe.'' 

''Is there any admin control information?''

''An [[OpenZeppelin]] audit contains information detailing [[admin controls]]. Instadapp is currently in the process of [[decentralising]], and so greater admin control is slowly being handed to the DAO. A blogpost details the upgradeability of contracts.'' 

''To conclude, Instadapp has respectable software documentation with software functions being covered, though more information on admin access controls is needed. More evidence of testing would develop their [[GitHub|github]] further. A better defined [[roadmap]] on how its DAO will eventually function would also benefit Instadapp’s transparency. More documentation is required in order to improve this protocol’s process transparency. However, it is certainly an improvement from their previous iteration."''
*From their [https://blog.instadapp.io/protocol-and-governance blog] (6-4-2021):

''"We have also completed our first Audit with [[Peckshield]] with no severity. The audit report is hosted [https://github.com/instadapp/dsa-contracts/blob/master/audits/v2_PeckShield_Mar_2021.pdf here]."''
*Previously [https://docs.defisafety.com/finished-reviews/instadapp-process-quality-audit scored] a 51% on DeFi Safety (9-2020); ''"Two audits are mentioned in the security section of the docs.  The audit from [[samczsun|samcunz]] is brief, but his reputation is very strong. The audit from [[peckshield]] was corrupt, but we received a copy so score revised to 100%"'' This was later [https://t.me/c/1453353094/380 upgraded] to 58%.
* The Smart Account contracts are audited [https://github.com/peckshield/publications/blob/master/audit_reports/InstaDApp_audit_report_2020_04_en_1_0.pdf by] (19-3-2020) [[Peckshield]] and [https://samczsun.com/instadapp-audit-loa/ by] (3-2020) [[Samczsun]]. Commentary of Saczsun:
''"In total, 1 undetermined, 0 high, 3 [[medium]], 4 low, and 2 informational findings were documented. Additionally, 9 recommendations were made.''

''InstaDApp resolved all undetermined, medium, and low severity findings and applied some of the recommendations. The remaining findings and recommendations were discussed at length during which compelling and satisfactory reasoning for why they were unaddressed were given."''
* The InstaDapp [https://blog.instadapp.io/dsa-launch/ comments] (28-4-2020):
"''Once the core contracts are deployed, all of the DSA transactions are secured by default, since no new smart contracts are deployed to build any kind of DeFi operations, which vastly simplifies and removes attack vectors."''

=== Bugs/Exploits ===
*From a [https://twitter.com/danielvf/status/1573440054793744385 thread] in which a white hacker found a bug around [[Timelock|timelocks]] and many projects being susceptible to it (24-9-2022):
''"I reported it as high severity, since if we received this kind of report at [[Origin Protocol (ORIGIN)|OUSD]], we would have classified it as that and made a payout to the whitehat of $25,000. The biggest project of all that had the issue was Instadapp, with 2.3 billion in funds when I reported. They revoked the permission the next day, but didn't respond for days after that. Instadapp marked the severity as low, and paid $500.''

''Instadapp's affected timelock controlled the code run when users interacted with their invested funds. This would have allowed an attacker to drain all invested and approved funds for a user when they used their Instadapp account. This was not Instadapp's main timelock, so Instadapp could have regained control a few days later. The affected timelock had a one second minimum delay, meaning an attack could have started taking user funds one block after being launched.''

''@Instadapp reevaluated this bounty and increased their payout on this from $500 to $10,000. Appreciated. They also increased their critical/high bounties on @immunefi this week from $50,000/$5,000 to $250,000/$100,000."''

== Governance ==

=== Admin Keys ===

*[https://www.defisafety.com/app/pqrs/65 From] [[DeFi Safety]] (30-6-2022):
''"InstaDapp clearly labels the protocol's functionalities as being upgradeable in the Introduction section [https://docs.instadapp.io/#introduction here]. Ownership is indicated as OnlyOwner for dsa-contracts in the code and governance proposals are set as [[Multi-Signature|MultiSig]] in their documentation. The smart contract change capabilities are not covered by the documentation, there is only mention of the upgradeability with no specification. There is no Pause Control documentation available on the developer documentation. The protocol identifies a [[timelock]] and a duration of 10 days in their timelock.sol contract. As specified [https://github.com/Instadapp/dsa-governance/blob/main/contracts/Timelock.sol here], the timelock is a minimum of 2 days to a maximum of 30 days, which is well above the appropriate length."''
*[https://www.defisafety.com/app/pqrs/65 From] DeFi Safety (21-9-2021):
''"The OpenZeppelin audit contains information detailing the access controls, but this was not mentioned in the [https://forum.openzeppelin.com/t/instadapp-audit/1370 docs]. There is also additional DAO information in their blog article about [https://blog.instadapp.io/protocol-and-governance governance].''

''All contracts are clearly labelled as upgrade able (or not) -- 30% -- the docs  detail which contracts are upgradeable. - The type of Ownership is clearly indicated as MicroDAO has partial ownership - The capabilities for change in the contracts are described -- 30% -- contract upgradeability will be [https://blog.instadapp.io/protocol-and-governance decided] by the DAO.''

''Pause control information could not be found."''
*[https://defiwatch.net/admin-key-config-and-opsec/project-reviews/instadapp From] [[DeFi Watch]] (9-3-2020):

"''InstaDapp smart wallets do not have an [[admin key]]. While there is no admin key risk with [[MakerDAO]], there are other kinds of risks including the admin key risk that it inherits from other platforms that it integrates with, such as [[Compound]]."''
*The following information comes from a [https://docs.google.com/spreadsheets/d/1b9KwXfPPEgvpy2nxlpnLhtPMd7S5KfIx-hf4Hv77kBk/edit#gid=0 spreadsheet] (4-2-2020) created by [[Chris Blec]].
''"Current [[Admin Key]] Config- Time Lock: No admin key or upgrade abilities'' 

''Current Admin Key Config- [[Multisig]]: No admin key or upgrade abilities''

''Claimed Admin Key OpSec: N/A''

''Verified Admin Key OpSec: N/A''

''Is security of deposited funds dependent on [[opsec]] of admin key?: No''

''Admin Key Address: N/A''

''Documentation on Admin Key Powers: N/A''

''Additional Info (if any)? Systematic risk via Compound admin key"''
===DAO===

*[https://medium.com/@SenateLabs/landscape-of-pro-delegate-next-wave-of-dao-governance-f239cd8537ea Has][[StableNode]] as some of their professional delegates (30-11-2022).
*From their [https://instadapp.io/tokenomics website] (15-7-2021):

''"Contract upgrades are executed and managed by the governance [[token]] contract, token holders will vote on system upgrades, platform parameters and other code changes."''

* From the [https://blog.instadapp.io/introducing-defi-smart-layer announcement] (17-2-2021):

''"In updating to v2 of the [[Defi]] Smart Accounts (DSA), we are also introducing account upgradability, which will also give [[the DAO]] a large number of [[options]] to add deep functionality for users, including them to automatically offer their unused assets for various types of usages, including flash loans, [[yield farming]], porting of assets in both L1 & L2 and gain returns on them. This will significantly extend both the power of the DAO, as well as utility to DSL users.''

''The initial [[governance]] will be made up of the Instadapp team and investors. We expect the [[decentralization]] of governance power to happen immediately at launch, through a combination of liquidity [[mining]], developer incentives and delegation to selected teams."''

* From [[Footprint Analytics]](8-2021): a visual in-depth [https://www.footprint.network/dashboard/422-instadapp-dashboard?days=past3months~&name=instadapp dashboard for InstaApp]

===Treasury===

* [https://thedefiant.io/instadapp-avocado-multi-network-wallet From] [[The Defiant]] (10-3-2023):

''"Avocado charges an additional 20% on top of the gas fees paid, with half the revenue going directly to dApps that integrate with the platform and the remainder going to the Instadapp DAO."''
* [https://blog.bancor.network/nexus-mutual-joins-30-daos-adopting-bancors-dao-treasury-management-solution-2eb60b762259 Plans] to [[stake]] their treasury (or parts of it) in [[Bancor Token (BNT)|Bancor]] V3 (9-3-2022).
*From their [https://instadapp.io/tokenomics website] (15-7-2021):

''"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."''

== Token ==

* InstaDApp had no [[native token]] and currently ([https://defipulse.com/instadapp 23-2-2021]) charges no [[fees]]. This all changed with the annoucement of DSL, which introduced a governance token.

===Launch===

* From the DSL [https://blog.instadapp.io/introducing-defi-smart-layer announcement] (17-2-2021):

''"We expect the DAO / token launch and corresponding distribution to start in March."''

* Token [https://blog.instadapp.io/inst launched] on 16-6-2021.

===Token Allocation===

* From the DSL [https://blog.instadapp.io/introducing-defi-smart-layer announcement] (17-2-2021):

''"We expect the following distribution of [[tokens]] at launch:''

# ''45% of initial supply for team, investors and new team members.''
# ''55% for ecosystem growth, including [[liquidity mining]], new ecosystem partners, developer mining and delegates.''

''Token supply will be locked until sufficiently decentralized, where [[DAO]] can approve when token supply changes."''

* From their [https://blog.instadapp.io/protocol-and-governance blog] (6-4-2021):

# ''"A portion of the governance tokens will be [[distributed]] amongst Instadapp's existing shareholders initially (which includes team and investors), forming the Micro DAO.''
# ''The majority of [[genesis]] INST will be allocated to building the developer ecosystem and community and will not participate in governance until distributed to the users and community.''
# ''The core team will manage the system at first until the [[on-chain]] voting and [[contract]] upgradability is operating as intended. After ensuring everything is on track, the core team transfers the protocol ownership to the governance and activates on-chain voting allowing the token holders to propose changes to the protocol, vote, and delegate.''
# ''This will also initiate the INST distribution to the protocol users. The initial distribution will be non-transferable, except for the genesis address. Once on-chain voting is activated, the community as a whole can come together to flip the transferability switch.''

''You can expect this to happen in Q2"''

* [https://ournetwork.substack.com/p/our-network-issue-78?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozODMxNDM1MCwiXyI6IitrN3VtIiwiaWF0IjoxNjI1MjkzNzUxLCJleHAiOjE2MjUyOTczNTEsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.0Ax_7mnX1dvzS8_Z9EOYi6itgOD From] [[Our Network]] (3-7-2021):

''"As a requirement to receive it, users needed to upgrade their accounts to the latest version. In two weeks, over 30% of all [[Total Locked Value (TLV)|TVL]] on Instadapp has migrated to the upgraded accounts."''

===Utility ===

* From the DSL [https://blog.instadapp.io/introducing-defi-smart-layer announcement] (17-2-2021):

''"Token holders will have immediate access to whitelisting accessible protocols, implement fees, finance the ecosystem development from treasury funds, and potentially open up the gateways for L2 migrations. A portion of the fees, charged by the interfaces using the DSL accounts or new protocols being built on the platform, will accrue to the token."''

===Other Details===
===Stablecoin ===
== Coin Distribution==
== Tech ==

*Docs can be viewed [https://docs.instadapp.io/ here].
*Code can be viewed [https://github.com/instadapp here]. [https://www.defisafety.com/app/pqrs/65 From] [[DeFi Safety]] (21-9-2021):
''"There are 431 commits and 4 branches, making Instadapp's repository healthy."'' [https://www.defisafety.com/app/pqrs/463 Update] (30-6-2022): ''"Instadapp's dsa-connectors repository records a total of 1196 commits and 5 branches"''
*Built on: [[Ethereum]], [[Polygon (MATIC)|Polygon]] and [[Arbitrum]]. [https://www.defisafety.com/app/pqrs/463 Added] [[Avalanche (AVAX)|Avalanche]], [[Fantom (FTM)|Fantom]] and [[Optimism (OP)|Optimism]] (30-6-2022).
*Programming language used: [[JavaScript|Javascript]] ([https://instadapp.io/ 23-2-2021]). From their [https://discuss.instadapp.io/t/general-faqs-instadapp-docs/45/16 FAQ] (20-7-2020): ''"Unfortunately, the SDK is only in [[Javascript]] right now, however you can interact with the contracts directly in the [[web3]] library."''

=== How it works ===

*From [https://instadapp.io/ their website] (9-2-2020):

"''InstaDApp uses [[smart contracts]] to secure the [[transactions]] and your assets are stored on Contract Wallet. Therefore, all transactions are traceable and irreversible. Smart Contracts are operated on algorithmic logic, which is formulated with accuracy and precision. You can view everything publicly. We do not hold any of your assets."''

* From [https://instadapp.io/ their website] (9-2-2020) on fee's

''"All of our basic platform interactions are free to use. However, you must have enough [[ETH]] while carrying out transactions to pay your [[gas]] fee."''

* [https://defipulse.com/instadapp From] [[DeFi Pulse]] (23-2-2021):

''"InstaDapp creates each user a unique [[smart contract]] wallet where you can manage new and existing Vaults, assets in Compound, and Uniswap [[liquidity pools]]."''

* From [https://instadapp.io/ their website] (23-2-2021):

''"100% [[trustless]]. We ensures that there is no way to access your funds to make it as robust and secured as possible."''
===Fee Mechanism ===
===Upgrades ===

* [https://defipulse.com/instadapp Released] its v2 update in April 2019.

===Staking ===
===Liquidity Mining===

* The announcement of DSL [https://blog.instadapp.io/introducing-defi-smart-layer mentioned] [[liquidity mining]] (17-2-2021).

=== Scaling ===

* From their [https://blog.instadapp.io/introducing-defi-smart-layer blog] (17-2-2021):

''"We intend to help solve these problems [gas fees] by allowing Instadapp users to seamlessly migrate their assets and use [[L2]] on the same UX but with much lower [[gas]]. Besides, we aim to help bridge liquidity - by aggregating across various lending & swap protocols and by porting over - allowing users to bring unused liquidity over to L2 easily."''

===Interoperability===
===Different Implementations===
=== Other Details===
== DeFi Smart Account (DSA) contracts. ==

*[https://blog.instadapp.io/dsa-launch/ Launched] on [[MainNet|mainnet]] (28-4-2020).
*[https://thedefiant.substack.com/p/uma-token-sale-also-launches-new-689?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo0MTU5MDksIl8iOiJtSlA2dyIsImlhdCI6MTU4ODIzNTIzMiwiZXhwIjoxNTg4MjM4ODMyLCJpc3MiOiJwdWItMTEyNTkiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.x6FIRVj4UTs0Je7GQ9wAyNDzdceIjvH7NqAo9CVVla4 From] [[The Defiant]] (29-4-2020):

''"Most users interact with DeFi through wallets, which were mainly designed for tokens. Instadapp wants to improve that experience with a platform which “provides a single point of integration to access all the DeFi [[elements]].”"''

* From their [https://blog.instadapp.io/dsa-launch/ announcement] (28-4-2020):

''"DeFi Smart Accounts are contract accounts trustlessly owned by users, designed to allow developers to build extensible products and business models on top of DeFi with maximum security and composability.''

''DSA is powerful because it can easily be extended with connectors and developers will be able to string together the available actions in the connectors to create innovative new transactions in a single [[transaction]].''

''The [https://twitter.com/InstaDApp/status/1148299303003119616 Protocol Bridge] and [https://twitter.com/InstaDApp/status/1196855953649369088 Migration Bridge] that created great usability in refinancing, took Instadapp about a month to build, whereas now with the help of DSA you can do it within 5 minutes.''

''Complex and important DeFi use cases like interoperability, [[solidity]] [[smart contracts]] (sometimes very complicated) are a basic necessity, resulting in a longer learning [[curve]], complex and rigid code after deployment, and lots of potential vulnerabilities. Which is all cut down to just a few minutes of coding, with a few lines of [[javaScript]] (no solidity) - all of which is possible on the DSA platform."''

== DeFi Smart Layer (DSL) ==

* From the [https://blog.instadapp.io/introducing-defi-smart-layer announcement] (17-2-2021):

''"DSL consists of a smart contract account standard, composable connectors to base DeFi protocols, and an authorization [[framework]] that allows extremely modular permissions.''

# ''Smart Accounts, which are the upgradable contract accounts, trustlessly owned by users. Assets are stored here and DSAs can execute composed transactions across connectors.''
# ''Connectors, which are standardized modules that interact with the various protocols, make important actions accessible to smart accounts. Developers can compose complex DeFi transactions across protocols using pure Javascript.''
# ''Authority, which users can use to set guardians, managers or automation bots to manage their DSA. Permissions can be modular down to connector levels. For example, users can allow specific [[addresses]] to rebalance their assets to minimize interest payment or maximize yields, but nothing else.''

''Users will be accessing the DSL via several channels, including on the Instadapp portal, 3rd party [[dapps]] and [[wallets]]/UIs that use smart accounts. DSL aims to aggregate across DeFi protocols and abstracts away the complexity for users and developers. This creates a set of important benefits to the development of DeFi, including:''

# ''Instant [[JavaScript|javascript]] access to all of DeFi, including composing use cases across protocols with zero smart contract deployment.''
# ''Ease of developing crucial features like social recovery and customized permissions.''
# ''Aggregate liquidity across smart accounts and base protocols to leverage it for [[flash loans]], growing [[L2]] environment.''
# ''Build new revenue streams and networks from automating or helping users delegate their DeFi activities, and adding their fee structures.''
# ''All DSL transactions are secure by default, since no new smart contracts are deployed, which vastly simplifies and removes attack vectors.''

''By removing the key technical, security and upgradability barriers to building DeFi, we aim to make DSL the easiest place for mainstream developers to embark on this journey."''

== Oracle Method==

* Fluid Lending [https://github.com/aviggiano/security/blob/main/audit-checklists/Oracle.md uses] (12-2024) [[Uniswap (UNI)|Uniswap]] v3 [[Time Weighted Average Price (TWAP)|TWAP]] - single pool, [[Chainlink (LINK)|Chainlink]] - latestRoundData - non-negative - staleness - sequencer
*[https://www.defisafety.com/app/pqrs/65 From] [[DeFi Safety]] (30-6-2022):

''"InstaDapp explains why their Smart Wallet service is not susceptible to [[oracle]] attacks. InstaDapp escribes why the Smart wallet is not vulnerable to [[Frontrunners|front running]] attacks [https://docs.instadapp.io/flashloan/contracts#utilizing-protocols-through-instadapp here]. InstaDapp offers a flash loan functionality and describes why the Smart wallet is not vulnerable to [[Flash Loan|flash loan]] attacks [https://docs.instadapp.io/flashloan/contracts#utilizing-protocols-through-instadapp here]."''

== Privacy Method==

* From [https://instadapp.io/ their website] (9-2-2020) on [[KYC]]:

''"You can access InstaDApp from anywhere in the world provided you have access to your [[Private keys|private key]] and internet."''

* From their [https://instadapp.io/privacy Privacy] page (23-2-2021):

''"We do not automatically collect Personal Information when you conduct transactions on the [[Ethereum (ETH)|Ethereum]] network using our Services, and we do not use any automatic tracking technologies in these parts of our Services unless you explicitly agree. We will never ask you to share your [[private keys]] to your [[Wallet]] or other security information that could be used to access your Wallet without your explicit consent and action."''
==Compliance==
==Their Other Projects==

=== Avocado Wallet ===

* [https://thedefiant.io/instadapp-avocado-multi-network-wallet From] [[The Defiant]] (10-3-2023):

''"Instadapp has launched the [https://blog.instadapp.io/introducing-avocado/ Avocado] [[wallet]], which enables users to execute multi-network transactions while being connected to a single network. Users connect directly to the Avocado network and can then transact on any chain. This is made possible by [[ERC-4337|account abstraction]], which allows wallets to operate as programmable [[Smart Contract (SC)|smart contracts]]. In addition, users’ addresses will remain the same across networks, as Avocado is an upgraded Externally Owned Account (EOA). [[Transaction (Tx)|Transactions]] are processed through Avocado’s own [[Remote Procedure Call (RPC)]], which then finds an available broadcaster to send the transaction on the selected network.'' 

''[[Transaction Fee|Transaction fees]] on the Avocado network are paid in [[US Dollar Coin (USDC)|USDC]]. Users can deposit USDC from any chain, and subsequently pay [[gas]] fees on any chain. This eliminates the need to hold the native tokens of multiple chains to cover gas fees. Avocado charges an additional 20% on top of the gas fees paid, with half the revenue going directly to dApps that integrate with the platform and the remainder going to the Instadapp DAO."''

==Roadmap==

*Can be found [Insert [[LINK|link]] here].
*[https://defipulse.com/instadapp From] [[DeFi Pulse]] (23-2-2021):

''"The team plans to add tie-ins with other protocols and additional features as it continues toward its goals of becoming a [[decentralized]] bank and driving mainstream adoption of [[DeFi]]."''

* From their [https://blog.instadapp.io/introducing-defi-smart-layer blog] (17-2-2021):

''"DeFi Smart Layer (DSL) is a financial infrastructure layer for the decentralized internet, to make accessing and maximizing DeFi easy for all users and developers. DSL consists of a smart contract account standard, composable connectors to base DeFi protocols, and an authorization framework that allows extremely modular permissions.''

''By tokenizing and opening up governance, we aim to incentivize collaboration and drive participation amongst the 3 key groups of stakeholders - Users, Developers and DeFi Protocols."''

== Usage ==
* From [https://medium.com/instadapp/seed-round-503b689fc71c their blog] (1-10-2019):
''"our protocol bridge saw explosive growth, growing the value locked in our [[smart contracts]] by 9 times, from $4M to over $35M. We are now #3 in [[total value locked]] after [[MakerDAO]] and [[Compound]]."''
* Since then [https://instadapp.io/ their website] says (9-2-2020) it holds:
7.9K smart wallets, $82.5M+ collateral and $29M borrowed.
* [https://medium.com/instadapp/2019-highlights-813047369200 Has] a Compound <> Maker bridge:
"''The success of this bridge resulted in our first major growth spike, from 10K [[ETH]] to more than 150K ETH, validating our belief that portability between DeFi protocols is an extremely important feature in this space. Also, the Protocol Bridge [https://twitter.com/ASvanevik/status/1201683380825395207 turns out] to be the #1 [[MKR]] burner the most number of MKR."''
* From this [https://thecontrol.co/defi-usage-numbers-7e5e2cd5ab2e blog] (29-4-2020):
''"Three users are responsible for ~[https://www.decentralised.co/in-numbers-instadapp/ 80% of all user deposits] on InstaDApp."''
* [https://bankless.substack.com/p/how-to-maximize-yield-farms-with?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo4MzQwMDAsIl8iOiIwb3pkOCIsImlhdCI6MTU5NzgzNTI4NCwiZXhwIjoxNTk3ODM4ODg0LCJpc3MiOiJwdWItMTYwMTUiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.0VDvLpY81ojZLuMrsAUlTsVKVwwZID7D-BbkJzE0QCI Over] $300M in value locked (11-8-2020).
* [https://ournetwork.substack.com/p/our-network-issue-46?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjoxODA3NTY0NiwiXyI6ImM5eFJuIiwiaWF0IjoxNjA0OTA5NzcxLCJleHAiOjE2MDQ5MTMzNzEsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.RZRBWJOIoRUCRQoSyDSSf4rRi9SH2DChGUvw3aW8giE From] [[Our Network]] #46 (6-11-2020):
"''Instadapp’s [[Flash Loan|flashloan]] (InstaPool) facilitated approximately $1.3B in flash loans for features like the Refinancing Tool, Leverage, and Debt Swap. The resulting flashloan volumes from InstaPool were roughly twice as high as previous editions. ([https://explore.duneanalytics.com/embed/query/9958/visualization/19796?api_key=wZ9sNdPHTuuBV1weJKxj3LgwBxwZV81XaXp5McNp Source])''

''More than 9000 DeFi Smart Accounts (DSAs) have been created, and several people are increasingly utilizing the platform to [[Yield farming|farm]] tokens and [[earn]] yield. Around 4000 more DSAs were created from the previous editions to this date. ([https://duneanalytics.com/embeds/6234/12417/ZYnpaliHa6rQQW4iXFthEL00Ag0wO8zFhtyTnOku Source])"''

* [https://ournetwork.substack.com/p/our-network-issue-58?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozMjQ4MTQ2NSwiXyI6InFmb2Z2IiwiaWF0IjoxNjEzNjMwMjIxLCJleHAiOjE2MTM2MzM4MjEsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.NrsNDh_kk5NIHsnkaTg0DoLYqVZ From] [[Our Network]] (13-2-2021):

''"More than 18.5k DSAs have been created. Around 9000 more DSAs were created from the previous editions to date. Instadapp’s flashloan (InstaPool) facilitated approximately $3.3B in flash loans for features like the Refinancing Tool, Leverage, and Debt Swap. Flashloan volume roughly doubled from previous editions to date. Around $698M of the volume was swapped from previous editions to date."''

* According to its [https://instadapp.io/ website] (23-2-2021) it manages $1,808,689,536 worth of crypto.
*[https://ournetwork.substack.com/p/our-network-issue-66?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozNDk2NzcyNiwiXyI6IkNDcGZjIiwiaWF0IjoxNjE4ODg1MDE1LCJleHAiOjE2MTg4ODg2MTUsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.GXq60HSL3SCOjboJghRP2qjYjIzV9eq3Gc1pgsli7Ac From] Our Network #67 (17-4-2021):

''"Instadapp has grown to over $2.5B in assets under management, making it currently the 7th largest [[DeFi]] [[Decentralized Applications (DApps)|DApp]] by holdings. Instadapp currently holds 1.03% of all circulating [[Ethereum]]. Instadapp’s [[Flash Loan|flashloan]], InstaPool, has facilitated more than $5B in [[flashloans]]. Instapool facilitates features including refinancing. In the last five months, we have seen an increase of $1.7B more volume in flashloans, an over 50% increase from our previously recorded volume of $3B. There are currently more than 20.8k DeFi Smart Accounts (DSA) that have been created."''

* [https://ournetwork.substack.com/p/our-network-issue-78?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozODMxNDM1MCwiXyI6IitrN3VtIiwiaWF0IjoxNjI1MjkzNzUxLCJleHAiOjE2MjUyOTczNTEsImlzcyI6InB1Yi0yMTM2MiIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.0Ax_7mnX1dvzS8_Z9EOYi6itgOD From] [[Our Network]] (3-7-2021):

''"Instadapp has facilitated more than $12B in [[Flash Loan|flashloan]] volume; this includes its use in Multi-Protocol Refinancing, Leveraging, Collateral and Debt [[Swaps]]. A smaller portion of this volume was 30m of combined assets and liabilities migrating across chain from [[Aave (AAVE)|AAVE]] v2 to [[AAVE]]-[[Polygon (MATIC)|Polygon]]."''

=== Projects that use or built on it ===

==Competition==
==Pros and Cons==
===Pros===
===Cons===
== Team, Funding, Partners ==

=== Team ===
* [[Sowmay Jain]]; founder
* [[Edward Moncada]]; advisory board (CEO of [[Blockfolio]])
* [[Ming Ng]]; advisory board ''"collaborates closely with prominent projects including [[Handshake]], [[Kyber]], and [[Blockfolio]]"''
*[https://medium.com/@SenateLabs/landscape-of-pro-delegate-next-wave-of-dao-governance-f239cd8537ea Has][[StableNode]] as some of their professional delegates (30-11-2022).

=== Funding ===
* [[StableNode]] [https://www.stablenode.xyz/ says] they invested (7-11-2022).
*From [https://medium.com/instadapp/seed-round-503b689fc71c their blog] (1-10-2019):
''"We have raised a [[seed]] round of $2.4M from a network of strategic investors, including [[Pantera Capital]], [[Naval Ravikant]], [[Balaji Srinivasan]], [[Coinbase Ventures]], [[IDEO CoLab Ventures|IDEO Colab]], [[Robot Ventures]] ([[Robert Leshner]] of [[Compound]] Finance), [[Loi Luu]] ([[Kyber Network]]), amongst [[MANY|many]] others."''

* [https://www.coindesk.com/yearns-cronje-backs-10m-raise-for-defis-instadapp From] [[CoinDesk]] (12-6-2021):

''"Instadapp announced Friday the completion of a $10 million funding round that was led by Standard Crypto and included [[Andre Cronje]]."''
===Partners===
==(:==
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[[Category:Companies/Organisations]]