In a blog post yesterday, decentralized financial management platform (DeFi) and protocol aggregation platform, Instadapp, announced the launch of their governance token, INST.

While it is currently impossible for ordinary users to transfer them, the token is set to be stable by the end of the year, coinciding with the transfer of control of the protocol to the DAO governance process in Q2.

The project, currently valued at more than $ 2.3 billion with 18,000 “Smart Accounts” wallets (DSA), connects to multiple DeFi protocols from a single interface and provides the development toolset, striving to be “Middleware” for developers building DeFi products.

The declaration added that the administration and token agreements have effectively been conveyed dependent on the Compound Finance standard. The underlying stockpile of INST tokens will be 100 million at beginning. It added that there will be a staged administration rollout:

“Security and safety are a prime focus as we transition to decentralized governance, and as such, the protocol’s ownership will be distributed in increments.”


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