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Place wire rack (that comes with instant pot) in the bowl of the instant pot. Add 1 cup water.Arrange 2-12 eggs on the rack (so they aren't touching the water or bowl).
Secure the lid and set lever to "sealing" position. Cook on manual "high pressure" and set timer for desired doneness (5 min for soft boiled, 6-8 min for medium, 9-10 minutes for hard boiled eggs). Once instant pot reaches high pressure (which takes 5-6 minutes), your set timer will automatically start counting down.
As soon as your timer is up, use a hot mitt to switch the lever to "venting" position (a hot burst of steam will release). When pressure is fully released and pressure indicator has drops, remove lid and use tongs to transfer hot eggs to a bowl of ice water for 5 minutes before peeling.