The Indigo Protocol is a CDP (Collateralized Debt Position) based DeFi protocol that brings capital-efficient synthetic assets to the Cardano ecosystem. Users can purchase iUSD from a DEX just like any Cardano native asset, or can mint iUSD within the Indigo Protocol by depositing ADA as collateral.
When users mint iUSD within the Indigo Protocol, they must deposit sufficient ADA such that their CDP remains above the applicable Minimum Collateralization Ratio (MCR) - meaning a user deposits collateral in the form of ADA that ensures over-collateralization. If the value of a user's ADA collateral begins to decrease toward the MCR, a user can choose to add more collateral to keep their iUSD position above the MCR. If a user’s collateral becomes worth less than the MCR of their iUSD debt, the Indigo Stability Pool providers will allow the user to keep their iUSD but will exchange Stability Pool iUSD for the user’s higher value ADA collateral. Thereby ensuring that iUSD remains overcollateralized and that the Indigo Protocol remains solvent via its efficient liquidation process.
Unique to Indigo, users still receive their ADA staking rewards from stake pool delegation while ADA is being used as collateral in a CDP. This CDP Liquid Staking feature presents a unique use case for iUSD in trading strategies.
The Indigo DAO controls the iUSD parameters and can therefore vote to raise or lower the Minimum Collateralization Ratio for iUSD and all Indigo iAssets.
How to Buy IUSD on an Exchange
Step 1: Choose a Reputable Exchange Platform
Select a trusted platform from among many available options for purchasing IUSD. Some reputable platforms include HTX、Bybit、Bitget, and others.
Step 2: Register an Account
Here, we'll register an account on the Bybit(registration link) trading platform. You may need to provide personal information such as phone number and email to complete the registration process.
Step 3: Complete Identity Verification
For security purposes, some platforms may require you to complete identity verification. Follow the platform's instructions to provide necessary identity information (such as country/ID number) and undergo facial recognition. Once your identity is confirmed, you'll receive notification.
Step 4: Link Bank or Payment Method
Link your bank account or other payment methods to the exchange platform for making payments when purchasing IUSD.
Step 5: Purchase IUSD
Find the option to buy coins on the exchange platform, choose the C2C coin purchase process, and then input the quantity of IUSD you wish to purchase. Typically, you'll choose to buy USDT first and select your preferred payment method. Simply place the order, make the payment to the seller, and you'll receive the cryptocurrency. Once payment is complete, you can use your exchange assets to buy IUSD.
Step 6: Store Your IUSD
After purchasing, you can choose to store your IUSD in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.
Step 7: Security Reminder
To protect your exchange account and IUSD assets, be sure to use a strong password and enable two-factor authentication.
IUSD Price:Indigo Protocol seamlessly tokenizes both digital and real-world assets on the blockchain, democratizing financial opportunities for everyone. Indigo offers a unique and equitable entry into the global economy, allowing anyone with an internet connection and a crypto wallet to access a wide range of assets, from cryptocurrencies to commodities.The price fluctuates daily, you can go to the exchange: Bybitto check the price.
Recommended Similar Coins: MOLK、WASTR