Indigo Partners with COTI, Bringing DJED to Users

We are excited to announce a partnership with stablecoin developer COTI to explore ways to implement DJED — the first algorithmic stablecoin on Cardano — as an available form of collateral within Indigo, the decentralized finance (DeFi) synthetic asset protocol of Cardano.

Indigo users will be able to use DJED as collateral to mint and trade new iAssets. Using a stablecoin such as DJED brings more stability to collateralized debt positions aka CDPs. Removing volatility from one side of the pair offers a more traditional investment approach and a lower risk assessment for users holding CDPs anchored on one-half by stablecoin.

Being the issuer of DJED, COTI will assume the responsibility of publishing the smart contracts for the stablecoin and of being the front end for engaging with funds, enterprises, developers, and others who wish to mint both the stablecoin and the reserve coin used as part of the pegging algorithm.

Eric Coley, CEO of Indigo said:

“At Indigo we aim to build one of the most disruptive and robust, yet simplified, financial applications with composability as a key area of focus in our vision. We further that mission and continue to build upon our rich portfolio of integration partnerships with COTI and believe that DJED will play a vital role in Cardano’s Defi landscape.”

About Indigo

Indigo has a long-term vision to tokenize the real-world economy and will play a key role in both DeFi and RealFi by providing people & institutions exposure to assets they wouldn’t normally have access to. Indigo allows for the minting of synthetic assets (iAssets) for traders to gain price exposure to real-world assets. Additionally, iAssets enable significant advantages over traditional assets: users can hold them in fractional shares and trade them irrespective of their geographic location or market hours. Users can benefit from price exposure to the underlying asset without going through the obstacles of purchasing and holding custody of the asset. Enabling price exposure to assets via Indigo’s noncustodial & decentralized architecture unlocks opportunities for wealth creation at a global scale for anyone with an internet connection.

About COTI

COTI is a fully encompassing “Finance on the blockchain” ecosystem, specifically designed to meet the challenges of both centralized finance (fees, latency, global inclusion and risk) and Decentralized Finance DeFi (fees, clogging and complexity) by introducing a new type of DAG based base protocol and infrastructure that is scalable, fast, private, inclusive, low cost and is optimized for finance.

Discord
Twitter
Github
Medium
Telegram

Follow Indigo:

Discord
Twitter
Github
Medium
Telegram

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Indigo

Indigo

1K Followers

Indigo is a decentralized synthetic asset issuance protocol built on Cardano