There is a problem with this token.
The protocol is ranked number 8 on DefiLama but it’s like a ghost token,
- barely no informations about the tokenomics
- nowhere to trade this token except on Uniswap but as I understand it, there is no liquidity
- instadapp should go cross chain to attract some partership like OP’s partenership for example and then attract users
- the token should be list on a big exchange like OKX or Binance or FTX
- users should have incentive to use this dApps
I went on the discord and there is barely no activity, where is the team??
The token is primarily a governance token similar to Uniswap, you can find a page to tokenomics here and in this blog post: Instadapp | Powerful DeFi Management and Introducing INST
There is plenty of activity on Discord and Instadapp receives consistent updates. For most updates tou can follow our official Twitter for the latest official updates:
I do think its fair to say the token may need more use cases, but I don’t think users require incentive to use the app, as you said yourself its one of the largest DeFi applications in the space!
You should think of the token very similar to Uniswap where its primary purpose is governance. The team has thoughts on potential use cases for the token, but at this time it is primarily a governance token.
Centralized exchanges are not always the best approach, as you can see there are many projects on centralized exchanges that no longer exist. I think more important is that the team continues to develop and innovate and overtime these exchanges will list us.
If you haveideas around particular use cases for the token or other similar projects that have tokenomics you think are a good fit for Instadapp please let us know.