What is Indigo Protocol iUSD (IUSD)?
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.
How does Indigo Protocol iUSD work?
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.
What is Indigo Protocol iUSD used for?
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.
Where can you buy Indigo Protocol iUSD?
Indigo Protocol iUSD (IUSD) is traded on a wide range of centralized and decentralized exchanges. The most liquid markets for IUSD sit on tier-1 venues - the sort of exchanges where institutional desks and professional market makers rebalance continuously - which is what keeps the spread tight and the last price tied closely to fair value.
You can open the Markets section above to see the live list of exchanges quoting IUSD, sorted by 24-hour volume. Each row links to the venue's trade page so you can go directly from research to execution without copying the ticker around by hand.
What is the daily trading volume of Indigo Protocol iUSD (IUSD)?
The reported 24-hour trading volume of Indigo Protocol iUSD is $21.39K. Volume is a live reading of how much IUSD changed hands across all tracked exchanges in the past day and tends to rise during periods of price discovery and fall during consolidation.
For traders, the ratio between volume and market cap is often more informative than either number on its own: a high vol-to-mcap ratio indicates liquid, actively traded supply, while a low ratio suggests that most holders are sitting on the asset.
What is the highest and lowest price for Indigo Protocol iUSD (IUSD)?
Indigo Protocol iUSD reached an all-time high of $1.33 on March 2, 2025, and an all-time low of $8.194e-7 on January 11, 2024. It is currently trading -25.42% from its peak and +120982131.40% from its bottom.
The distance from ATH is a useful gauge of recovery potential during a bear market and of stretched positioning during a bull market. Combined with the all-time-low figure it provides a quick statistical frame for thinking about where IUSD sits in its long-run price range.
What is the market cap of Indigo Protocol iUSD (IUSD)?
Indigo Protocol iUSD's market capitalization is currently $9.44M, and it is ranked #9999 by market cap on Cryptopricing. Market cap is calculated as the current price multiplied by the circulating supply (9.52 million IUSD are actively circulating today).
Market cap is a common but imperfect measure. It reflects the theoretical value of every circulating token at the current market price, but it doesn't capture how thin the top of the order book might be - an important caveat for tokens with low floats or illiquid cap tables.
What is the fully diluted valuation of Indigo Protocol iUSD (IUSD)?
The fully diluted valuation (FDV) of Indigo Protocol iUSD is $9.44M. FDV is a projection of what the market cap would be if every token that will ever exist - including those that have not yet been unlocked, mined or issued - were in circulation at the current price.
FDV is a useful second reading alongside market cap. A large gap between mcap and FDV signals that future token emissions could dilute current holders, while a small gap indicates that supply is already mostly out.
How does the price performance of Indigo Protocol iUSD compare against its peers?
Over the past 24 hours, Indigo Protocol iUSD has moved -1.39%. Over the past seven days, the change is -0.28%. Comparing these figures to the global crypto market cap change (shown in the ticker at the top of this page) tells you whether IUSD is leading, lagging or tracking the broader market.
For deeper analysis, the categories strip on the home page groups coins by theme - Layer 1, Meme, DePIN, AI, RWA and so on - and lets you compare Indigo Protocol iUSD against its closest peers. The category detail pages surface the underlying coins and their seven-day sparklines in a single view.
How to store Indigo Protocol iUSD?
Like any crypto asset, the right way to store IUSD depends on how often you plan to use it. Long-term holders typically self-custody using a hardware wallet such as Ledger or Trezor, which keeps private keys offline and immune to most remote attacks.
For active traders, a reputable custodial exchange wallet can be appropriate, especially one with clear proof-of-reserves attestations. Whatever approach you choose, the most important rule is to keep your recovery phrase offline, never share it, and never enter it into a web form or attached to a DM - no legitimate support agent will ever ask for it.
