Indigo began its mission to bring synthetic assets to the Cardano blockchain in April of 2021, taking on the challenge of delivering a functioning CDP-based protocol. We are excited to announce that Indigo is soon to offer game-changing financial tools to users globally and the private testnet launch is the first step. Synthetic assets give users the opportunity to gain exposure to a variety of assets without the need to actually own the underlying asset — essentially to invest without ownership. The underlying assets can be anything that has value in the real world along with a reliable and verifiable price feed. With its transparency, efficiency, low barriers to entry, and decentralized traits, the Blockchain can smoothly deliver all these assets to anyone with access to the Internet.
Indigo will be launching its testnet a bit differently. Pre-selected participants will access the Indigo private testnet and complete a series of functionality tests while sharing their insight on UI/UX usability over the course of 14 days.
The private testnet will begin testing on Wednesday, May 11th, and finish by Wednesday, May 25th. The Indigo team will be making improvements, answering questions, and compiling bug reports in preparation for our public testnet in the following months.
Private testnet participants will be testing the below protocol functions:
- Mint an iAsset through a Collateralized Debt Position (CDP)
- Manage CDP through Deposit and Withdraw of collateral
- Manage the collateral ratio of an iAsset through Mint and Burn functions
- Liquidation of an Under Collateralized Debt Position
- Deposit and Withdraw from a Stability Pool
- Redeem Rewards from a Stability Pool
- Deposit and Withdraw INDY from Staking
- Redeem INDY Staking Rewards
Simultaneously, testers will be giving Indigo feedback on the Indigo Dapp design.
Below is a look at the current Indigo MainPage featuring both Light and Dark modes:
Over the course of Indigo’s development, we have assembled an amazing team of bright and talented developers, completed scrutinous audits, implemented all recommendations, and spent countless hours innovating and interacting with the growing Cardano ecosystem. Our developers are proud of their work and excited to finally share Indigo’s synthetic assets tools with our community. We look forward to reporting back on our learnings from this private testnet before launch of the public testnet later this year.