Frequently Asked Questions on Instabridge ahead of the Babylon update
Q. Do I need to KYC to use Instabridge?
A. Yes. You can complete KYC via Instapass.io
Q. When will Instabridge be online?
A. Within 2 weeks of the Babylon network migration. Instabridge and Instapass will be offline from the 25th September in preparation for the Radix Network Babylon upgrade. More details here.
Q. Will my personal information be secure on Instapass?
A. Yes, Instapass uses industry-leading data security practices and uses service providers, such as SumSub, who are ISO/IEC 27001 compliant. Read More.
Q. What other networks does Instabrigde support?
A. Instabridge currently supports the Ethereum and Radix Networks, and will be looking to integrate more networks over time.
Q. What assets will be bridgeable post Babylon?
A. ETH, wBTC, USDT, USDC & eXRD
To distinguish these new wrapped assets on the Radix network, they will have an “x” prefix. For example, USDC will show as xUSDC on the Radix network. This naming convention will make it easy for users to identify and work with these assets on our platform.
Q. Will Instabridge be 2 way?
A. For certain assets, yes! Instabridge will offer the following token directions:
- eXRD -> XRD (1 way only)
- ETH, wBTC, USDT, USDC <-> xETH, xwBTC, xUSDT, xUSDC (2-way)
Q. Are there any countries that cannot use Instabridge?
A. Any country that is classified as a High Risk Jurisdictions according to FATF2 and Transparency International 2018 Corruption Perceptions Index Rating 3 of less than 25. A current list can be found on the FATF website: https://www.fatf-gafi.org/en/countries/black-and-grey-lists.html
Q. What assets can I bridge to Radix?
A. ETH, wBTC, USDT, USDC
Q. How will wrapped assets be displayed on Radix?
A. Wrapped assets will all have the “x” preface to the token so wrapped ETH will show as xETH
Q. Am I able to swap to Fiat using instabridge?
A. Not currently, this is a feature we are hoping to support in the future. For now we support both USDC and USDT stable coins to support representations of fiat on the Radix Ledger.
Q. I have a problem with Instabridge or Instapass, how do I get help?