Indigo Protocol iUSD

Overview

Indigo Protocol iUSD market snapshot: Price $1.0050, market capitalization $9.57M, and reported 24-hour volume $10.02K.

Trading activity: Reported 24-hour volume equals 0.10% of market capitalization. The local markets snapshot lists Minswap among venues with observed trading activity.

YearBull indicators: This asset is classified as a stablecoin and is excluded from the analytical YearBull Rank, Bull Score, YB Market Risk, and Cycle sequence.

Values are descriptive and should be read together rather than as a price forecast. Read the YearBull methodology. Snapshot date: 2026-10-27. Data history: 71 daily observations available in the latest 90-day window.

Methodology responsibility: YearBull’s analytical methodology and presentation rules are developed and maintained by Alan Zelvin, Founder & Lead Crypto Researcher. This note identifies responsibility for the methodology; it does not attribute authorship of this data snapshot.

What is Indigo Protocol iUSD (IUSD)?

YearBull Project Summary: Indigo Protocol iUSD (IUSD) is best read through its confirmed project identity, cited system links and the relevant chain or deployment context, without blending outstanding risks into corroborated facts.

Source description

“iUSD is Cardano’s first fault-tolerant and fully collateralized native stablecoin released in November of 2022 as part of Indigo Protocol v1. iUSD is pegged to the median value of USDC, TUSD, and USDT; this design allows iUSD to maintain its peg even if one of the three stablecoins (USDC, TUSD, and USDT) depegs. 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.”

This source-supplied description may contain old, promotional, or unverified claims and is not YearBull editorial analysis.

Indigo Protocol iUSD (IUSD) project facts

  • Source tags: Stablecoins, USD Stablecoin, Synthetic Asset, Cardano Ecosystem, Crypto-backed Stablecoin
  • Recorded networks: Cardano

Official links and contract records appear in Key Facts. Project details can change, so verify current information with the project.

Indigo Protocol iUSD (IUSD) FAQ

How does iUSD’s three-stablecoin peg aim to reduce single-asset depeg risk?

The project states that iUSD is pegged to the median value of USDC, TUSD, and USDT. Under this design, a sharp deviation in one of those stablecoins may have less influence on the reference value than it would in a single-stablecoin arrangement. This is presented as a fault-tolerance feature, although the project does not specify how the median is calculated or updated.

How can users mint iUSD through an Indigo collateralized debt position?

Users can mint iUSD in Indigo Protocol by depositing ADA as collateral into a collateralized debt position, or CDP. The position must remain above the applicable Minimum Collateralization Ratio, meaning the ADA collateral is intended to exceed the value of the iUSD debt. Users may add more ADA if the collateral value approaches that threshold. iUSD can also be purchased on a decentralized exchange as a Cardano-native asset.

What happens when an iUSD CDP falls below its Minimum Collateralization Ratio?

If the value of a user’s ADA collateral falls below the required ratio relative to the iUSD debt, Indigo’s Stability Pool process is intended to liquidate the position. Stability Pool providers exchange their iUSD for the affected user’s higher-value ADA collateral, while the user keeps the iUSD. The project presents this mechanism as a way to preserve overcollateralization and support protocol solvency.

How does Indigo’s CDP Liquid Staking feature affect ADA used as iUSD collateral?

The project says users continue receiving ADA staking rewards from stake-pool delegation while their ADA is locked as collateral in an Indigo CDP. This feature, called CDP Liquid Staking, is positioned as a way to combine collateralized iUSD positions with ADA staking returns. The project highlights potential relevance for trading strategies, but it does not specify the reward rate or the conditions governing delegation.

How can the Indigo DAO change iUSD’s collateral requirements?

The Indigo DAO controls parameters for iUSD and other Indigo synthetic assets, according to the project. Its voting process can raise or lower the Minimum Collateralization Ratio, which determines how much ADA collateral must support a given iUSD debt. Because changing this ratio affects liquidation risk and capital efficiency, the parameter is a central part of the protocol’s governance framework. The project does not specify voting thresholds or timing.

Indigo Protocol iUSD metric comparison

This comparison is a stored snapshot generated 2026-10-22 06:31 UTC from 98 daily observations available from 2025-12-30 through 2026-10-22. It is separate from the latest analytical cards above. Percentiles compare the snapshot value with that day's analytical universe; a higher percentile means a larger observed value, not necessarily a better investment characteristic.

MetricSnapshot30d before90d beforeChange vs 30dUniverse percentile
Price$0.9820$1.00$1.02-2.0%n/a
Market cap$9.35M$9.54M$9.67M-2.0%P85.0
YearBull Rankn/an/an/an/an/a
Bull Scoren/an/an/an/an/a
Turnover0.03%0.10%6.29%-0.1 ptsP19.0
YB Market Riskn/an/an/an/an/a
CycleStableStableStableUnchangedn/a

Median absolute daily movement 0.60%; distance from the highest local daily price -5.1%; circulating supply change 0.0%. These measurements are descriptive and do not predict future direction.

Editorial research. Identity, project facts, sources, and risks below belong to the dated editorial review. The live analytical snapshot above may be newer and is generated separately from stored market data.

Indigo Protocol iUSD: How collateralized debt positions mint iAssets and Peg Stabilization Module and stated 1:1 swap design

Indigo Protocol iUSD (IUSD) is best read through its confirmed project identity, cited system links and the relevant chain or deployment context, without blending outstanding risks into corroborated facts.

iUSD identity within Indigo Protocol

Indigo documents iUSD as a Cardano-based synthetic iAsset and stablecoin whose value mirrors its underlying asset. In the Indigo Protocol iUSD source record, iUSD identity within Indigo Protocol establishes the useful scope for this point. The cited project page, Indigo Protocol Brief Overview, ties Indigo Protocol iUSD (IUSD) to this published context. This support does not make the iUSD is an iAsset rather than INDY into an expected market outcome. The narrower conclusion is material because iUSD depends on collateral valuation, oracle operation, liquidation mechanics, Stability Pool liquidity, PSM liquidity and smart-contract execution; it can trade away from its intended reference value.

The protocol documents CDPs as the mechanism for minting iAssets: a user locks collateral and borrows against it at a variable interest rate. This second Indigo Protocol iUSD fact belongs under How collateralized debt positions mint iAssets, not under assumptions about price or adoption. Collateralized Debt Positions (CDPs) supports the stated relationship for IUSD. A reader can use it to distinguish One collateral type per V3 loan position from look-alike assets and uncorroborated utility statements. The distinction continues to matter while The current policy ID, asset name, active collateral pairs, live PSM availability and current parameters must be verified from official live sources before the information is relied upon.

How collateralized debt positions mint iAssets

Indigo V3 documents multi-collateral CDPs, with one collateral asset type per loan position and per-pair collateral and liquidation parameters. For Indigo Protocol iUSD (IUSD), this evidence develops the Multi-collateral and liquidation parameters in V3 section of this analysis. The referenced material from Indigo Protocol V3 and Collateralized Debt Positions (CDPs) supports this limited source record claim. It leaves current parameters and some user paths unconfirmed. Anyone applying the Indigo Protocol iUSD process must still check the relevant chain, interface, and current deployment, particularly because iUSD depends on collateral valuation, oracle operation, liquidation mechanics, Stability Pool liquidity, PSM liquidity and smart-contract execution; it can trade away from its intended reference value.

The first and third verified facts connect Indigo Protocol iUSD identity with iUSD is an iAsset rather than INDY. Their shared evidence boundary is practical: Indigo Protocol Brief Overview and Indigo Protocol V3 and Collateralized Debt Positions (CDPs) describe that relationship, while the Indigo Protocol iUSD user must check changing operational details independently. This evidence pair cannot guarantee frictionless or loss-free execution.

Multi-collateral and liquidation parameters in V3

Indigo V3 documents a Peg Stabilization Module with a 1:1 swap mechanism between approved iAssets and approved stable collateral pairs, including stated iUSD examples. Within the Indigo Protocol iUSD source record, that point anchors Peg Stabilization Module and stated 1:1 swap design. The relevant support comes from Indigo Protocol V3, which means the statement stays within the source scope. For IUSD, the fact explains One collateral type per V3 loan position but does not prove universal availability or fixed financial results. This caveat remains relevant because The current policy ID, asset name, active collateral pairs, live PSM availability and current parameters must be verified from official live sources before the information is relied upon.

Read together, the second and fourth verified facts distinguish the role attributed to IUSD from the wider Indigo Protocol iUSD system. The evidence in Collateralized Debt Positions (CDPs) and Indigo Protocol V3 corroborates these defined relationships. It does not show that possession automatically grants every right, removes eligibility rules, avoids queues, or freezes protocol settings. The real-world effect follows the current Indigo Protocol iUSD implementation.

Peg Stabilization Module and stated 1:1 swap design

Indigo documents Stability Pools as part of the system that handles debt from liquidated CDPs, while its SDK describes support for CDP, staking and Stability Pool account operations. This gives Indigo Protocol iUSD (IUSD) the source record’s clearest source-backed reference. The record at Indigo Protocol Brief Overview and Indigo SDK carries more identity value than the IUSD market label alone. For Indigo Protocol iUSD, the checkpoint may be a contract, mint, repository, chain identifier, product page, or another explicit identity reference. It remains time-sensitive where iUSD depends on collateral valuation, oracle operation, liquidation mechanics, Stability Pool liquidity, PSM liquidity and smart-contract execution; it can trade away from its intended reference value.

For Indigo Protocol iUSD, the operating claim and verification anchor form one check. Indigo Protocol V3 and Collateralized Debt Positions (CDPs) describes the former, while Indigo Protocol Brief Overview and Indigo SDK supports the latter. A correct project name attached to the wrong deployment can still mislead. Up-to-date official sources should consequently confirm Documented iUSD PSM examples with USDCx, USDA and USDM before the mechanism informs a user decision.

Risks and unknowns for Indigo Protocol iUSD

iUSD depends on collateral valuation, oracle operation, liquidation mechanics, Stability Pool liquidity, PSM liquidity and smart-contract execution; it can trade away from its intended reference value. The current policy ID, asset name, active collateral pairs, live PSM availability and current parameters must be verified from official live sources before the information is relied upon. Those source record boundaries apply directly to Documented iUSD PSM examples with USDCx, USDA and USDM. The Indigo Protocol iUSD (IUSD) design may operate as documented while an individual user still encounters technical, operational, legal, liquidity, custody, or market loss.

The defensible description of Indigo Protocol iUSD (IUSD) is evidence-led and conditional. Five verified Indigo Protocol iUSD facts connect identity, selected mechanics, risks, and verification. For IUSD, time-sensitive addresses, parameters, legal terms, integrations, custody routes, and interfaces require renewed official confirmation. The source record supports neither a market forecast nor protection against technical or financial loss.

Key takeaways

  • Indigo documents iUSD as a Cardano-based synthetic iAsset and stablecoin whose value mirrors its underlying asset.
  • The protocol documents CDPs as the mechanism for minting iAssets: a user locks collateral and borrows against it at a variable interest rate.
  • Indigo V3 documents multi-collateral CDPs, with one collateral asset type per loan position and per-pair collateral and liquidation parameters.
  • Indigo V3 documents a Peg Stabilization Module with a 1:1 swap mechanism between approved iAssets and approved stable collateral pairs, including stated iUSD examples.
  • Indigo documents Stability Pools as part of the system that handles debt from liquidated CDPs, while its SDK describes support for CDP, staking and Stability Pool account operations.

YearBull Rank on this page

YearBull Rank data is not available at the moment for iusd.

Rank timeline (last 365 days)
Rank history is still being collected.The rank timeline will appear after two valid daily YearBull Rank snapshots are available.

Rank change (daily snapshots).

Reading rule: smaller rank numbers are better.

  • 7d window: current rank not available.
  • 30d window: current rank not available.

YearBull Rank is a relative placement score used on YearBull to compare a coin against peers within the same dataset. Lower values mean higher placement in the YearBull ordering. Use it as positioning context over time, not as a promise.

Risk framing: minor drift can still matter at scale. If the curve whipsaws, treat the rank as fragile.

Cycle framing: in rotations, improving rank can happen without price leadership. If both are flat, the coin may be tracking its peer basket.

Liquidity read: stable placement often correlates with stable participation. If the line drifts, liquidity may be gradually shifting.

Exchange footprint: venue mix can alter rank without changing the narrative. If rank improves slowly, it often reflects broader access or steadier participation.

Practical note: use 30d for context and 7d for current pressure.

Editorial note: This analysis was prepared by the YearBull research team under the direction of Alan Zelvin, Founder and Lead Crypto Researcher. The assessment follows YearBull’s internal research methodology and editorial standards. Methodology · Editorial Policy
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Indigo Protocol iUSD (IUSD) Markets

Venue refresh pending. Markets last checked: 2026-07-26. The next refresh is queued in the hourly updater. Venue listings and volumes are stored snapshots, not live quotes.
Exchange Top Pair Stored 24h volume (snapshot) Trust Rank
Minswap IUSD/USDC $4.98K #194

Listings are ordered by reported snapshot volume. Trust Rank is an external venue-quality indicator; it is not an endorsement or a solvency guarantee.