3.5% Annual Interest Rate
MakerDAO is an open, banking protocol that allows anyone to create a Collateralized Debt Position (CDP) for issuing debt to yourself in DAI, a USD pegged Stable Coin. There is no single entity that controls the protocol; it's governed by the community.
Open & Decentralised Finance (#DEFI)
Our main priority is to bridge the gap between DAI & USD. Manage CDP operations via fiat transactions using your bank accounts.
Are you to liquidate? Auction your CDP at a discounted rate on an inbuild exchange to protect yourself from 13% penalty.
Multiple users can manage single CDP. In a great use case, think of company's directors managing a collaborative CDP.
Reach us out for suggestions.
|What is InstaDApp?|
|InstaDApp is a Decentralized Bank on top of MakerDAO Protocol in an easy-to-use interface by abstracting complexities under the hood for the end users.|
|Why should I trust you?|
|All InstaDApp operations are administered on smart contracts, making all transactions trackable and irreversible. Smart contracts have a predetermined logic, formulated with accuracy and precision, and can be viewed publicly.|
|What are our fees?|
|At the moment, there are no platform fees for InstaDApp users. MakerDAO protocol charge you 3.5% P.A. on the issued loan. Rest, the only fee drawn is the gas fee needed to pay for the transaction on the Ethereum Network.|
|What type of wallets are supported by InstaDApp?|
|InstaDApp is a peer-to-peer product and has no control over your CDPs. Therefore, before you can make any operations on InstaDApp, you’ll need to set up a web3 wallet with an Ethereum address. When you’re interacting with CDP, we’ll ask you to sign these operations using whichever web3 wallet you choose. We recommend Metamask when using Chrome or Brave or a mobile web3 wallet like Coinbase Wallet.|
|How can I contact the support team?|
|You can reach out to us on twitter , telegram or by email. Feedbacks and queries are always welcome.|