How to Buy Indigo Protocol iETH Crypto (IETH)

What is Indigo Protocol iETH (IETH)?

According to Coingecko, Indigo Protocol iETH is : 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’s 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’s 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.

Where can I buy IETH Crypto?

The best website to buy Indigo Protocol iETH is Simpleswap.

With Simpleswap you can buy almost every reputable token without needing to register or providing proof of identity. The process is incredibly simple and quick.

How to Buy Indigo Protocol iETH on Simpleswap

To buy Indigo Protocol iETH on Simpleswap, first you need to click here to access the Simpleswap App. Now, click the "Buy Crypto" tab, select your fiat currency, and then select IETH, just like in this example:

Once you selected the currency you want to pay in, and IETH, you need to paste your respective wallet address where you want to receive your IETH.

With Simpleswap, you'll receive your Indigo Protocol iETH directly on your on-chain wallet without need to deposit and withdraw like in every other exchange.

You can now choose between Google Pay or card to complete the payment:

Once you complete the payment, all you gotta do is wait a few minutes for the payment confirmation, and for the on-chain transaction to complete. Once all that is completed you should see your updated balance in your wallet.

Please make sure you read our Disclaimer. We are not financial advisors.