💻Using Indigo

Interacting with the Protocol 🔄

Getting Started

To begin, a user can either purchase iAssets from a DEX, swap through a Peg Stabilization Module (PSM), or open a CDP following these steps:

1. Connect a Wallet to app.indigoprotocol.io

2. Choose an iAsset (iUSD, iETH, iBTC, iJPY, iEUR, and others) to mint.

3. Select a collateral type (ADA or a whitelisted CNT such as USDCx or NIGHT).

4. Provide collateral at or above the minimum collateral amount for the selected pair.

5. Select a Collateral Ratio that aligns with your risk profile, affecting your minting capacity, redemption eligibility, and CDP liquidation price.

6. Upon completion, the protocol creates a CDP, mints the designated iAssets, and sends them to your wallet. Interest begins to accrue on the debt of a CDP continuously.

See Indigo Protocol V3 for details on multi-collateral support, the PSM, and other V3 features.

Utilizing iAssets 🌐

Stability Pool Deposits

• iAssets can be deposited into the Stability Pool, earning collateral from liquidations and a share of interest revenue by participating in the protocol's liquidation process.

Peg Stabilization Module (PSM)

• Swap approved stablecoins for iAssets (e.g., USDCx → iUSD) or redeem iAssets for stablecoins (e.g., iUSD → USDCx), subject to available PSM liquidity and direction-specific settings.

Indigo OrderBook

• Place buy or sell orders on the Indigo OrderBook to trade between iAssets and collateral assets at configured limit prices.

Providing Liquidity

• Utilize iAssets to provide liquidity on Decentralized Exchanges (DEXs) and earn yields through trading fees, protocol incentives, and respective DEX tokens.

Integration with dApps

• iAssets, like iUSD, can be used on various decentralized applications (dApps) on Cardano, including popular lending and borrowing platforms.

INDY Staking & DAO Participation 🗳️

For Users Interested in INDY and the Indigo DAO

If your initial plan doesn't involve opening a CDP and focuses on INDY staking and DAO participation, follow these steps:

1. Swap for INDY on Minswap, Sundaeswap, other Cardano DEXs, or buy INDY on the MEXC centralized exchange

2. Connect a Wallet

3. Navigate to the INDY Staking page on the platform.

4. Begin staking by depositing your INDY in Governance.

5. Start accruing revenue from Protocol Fee Sharing (distributed from Treasury iAsset revenue converted to INDY under V3).

6. Vote in Indigo DAO Governance at least once every 90 days to earn INDY.