💲iAssets
iAssets are Cardano-native synthetic tokens that track the price of external assets such as USD, BTC and ETH, priced by oracles rather than bridged or wrapped.
Overview 🌐
Defining iAssets
iAssets, or "Indigo Assets," are synthetic assets created within the Indigo Protocol. Unlike wrapped assets, protocol prices for iAssets are derived from tracked assets using price oracles (migrated to Pyth in Indigo Protocol V3), not requiring a bridge to deposit on another chain. These prices are used for liquidations, redemption, and interest settlements.
Available iAssets
Upon launch, iBTC and iUSD were available for minting within the Indigo Protocol, offering users immediate access to synthetic versions of Bitcoin and a USD-pegged stablecoin. iETH followed after DAO approval, providing exposure to Ethereum's price dynamics within the Cardano ecosystem.
With Indigo V3 and the Indigo Limitless rollout, additional iAssets such as iJPY and iEUR are being introduced through DAO governance, alongside expanded collateral markets and PSM pools.
Minting iAssets
iAssets can be minted by:
Opening a CDP with ADA or a whitelisted CNT as collateral
Swapping through a Peg Stabilization Module (PSM) using paired stable-value assets (e.g., USDCx → iUSD)
Trading on the Indigo OrderBook or DEXs
Each iAsset can be backed by multiple collateral types. Each iAsset/collateral pair has its own loan parameters (LR, MR, RMR), interest rate oracle, price oracle, and minimum collateral amount.
Creating New iAssets 🛠️
Asset Potential
Any asset with a real-world price can be transformed into an iAsset with the Indigo Protocol so long as there is a viable price feed for the proposed iAsset.
DAO Member Responsibility
The addition of new iAssets is overseen by DAO Members. If you wish to propose new iAssets, visit our Governance Forum to initiate a temperature check and engage in the discussion.
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