To begin, a user can either purchase iAssets from a DEX or open a CDP following these steps:
Connect a Wallet to app.indigoprotocol.io
Choose an iAsset (iUSD, iETH, iBTC) to mint.
Provide ADA as collateral.
Select a Collateral Ratio that aligns with your risk profile, affecting your minting capacity, redemption eligibility, and CDP liquidation price.
Upon completion, the protocol creates a CDP, mints the designated iAssets, and sends it back to your wallet. Interest begins to accrue on the debt of a CDP daily.
iAssets can be deposited into the Stability Pool, earning ADA and YAI rewards by participating in the protocol’s liquidation process.
Utilize iAssets to provide liquidity on Decentralized Exchanges (DEXs) and earn triple yields through ADA, YAI, and respective DEX Tokens.
iAssets, like iUSD, can be used on various decentralized applications (dApps) on Ethereum, including popular lending and borrowing platforms.
For Users Interested in YAI and the Indigo DAO
If your initial plan doesn’t involve opening a CDP and focuses on YAI staking and DAO participation, follow these steps:
Swap for YAI on Uniswap and other Ethereum DEXs, or buy YAI on the MEXC centralized exchange
Connect a Wallet
Navigate to the YAI Staking page on the platform.
Begin staking by depositing your YAI in Governance.
Start accruing ADA from Protocol Fee Sharing.
Vote in Indigo DAO Governance at least once every 90 days to earn YAI.
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