Indigo Protocol iUSD
IUSD Rank #1342Price chart
What is Indigo Protocol iUSD?
Overview
iUSD is a fully collateralized stablecoin built on Cardano that enables users to mint synthetic USD-pegged assets or trade them on decentralized exchanges. The token solves the problem of capital-inefficient collateralization by allowing ADA depositors to continue earning staking rewards while their coins secure debt positions. iUSD can be acquired directly from DEXs or generated by locking ADA as collateral in the Indigo Protocol.
How it works
iUSD operates as part of the Indigo Protocol, a CDP-based DeFi system on Cardano that creates synthetic assets. Users deposit ADA as collateral to mint iUSD, provided their position maintains a Minimum Collateralization Ratio threshold. A liquidation mechanism powered by the Stability Pool ensures over-collateralization: if collateral value falls below the MCR, Stability Pool providers exchange their iUSD for the user's ADA at a favorable rate, protecting protocol solvency.
Peg and backing
iUSD maintains its $1 peg by referencing the median price of three established stablecoins: USDC, TUSD, and USDT. This median-price design provides fault tolerance, as iUSD remains properly pegged even if one of the three reference assets loses its peg. All iUSD in circulation is backed by ADA collateral held in user CDPs and subject to liquidation mechanisms that enforce over-collateralization requirements.
Governance
The Indigo DAO governs iUSD protocol parameters, including the authority to adjust the Minimum Collateralization Ratio and other iAsset settings through token holder votes.
Where to trade IUSD
1 exchanges · top 10
Live spot quotes from connected exchanges
IUSD funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.