Exchange Indigo Protocol iETH

ieth Price Live Data

The live Indigo Protocol iETH price today is $ 3 825.28 usd with a 24-hour trading volume of $6 366 usd. We update our IETH to usd price in real-time. Indigo Protocol iETH is down -1.68% in the last 24 hours. The current coinmarketcap ranking is #, with a live market cap of $0 usd.

What Is Indigo Protocol iETH (ieth)?

"iETH is synthetic Ether and was the first new iAsset whitelisted by the Indigo DAO for the Indigo Protocol. 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 iETH from a DEX just like any Cardano native asset, or can mint iETH within the Indigo Protocol by depositing ADA as collateral.

When users mint iETH 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 iETH position above the MCR. If a user\u2019s collateral becomes worth less than the MCR of their iETH debt, the Indigo Stability Pool providers will allow the user to keep their iETH but will exchange Stability Pool iETH for the user\u2019s higher value ADA collateral. Thereby ensuring that iETH 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 iETH in trading strategies.

The Indigo DAO controls the iETH parameters and can therefore vote to raise or lower the Minimum Collateralization Ratio for iETH and all Indigo iAssets."