Monday, April 15, 2024

Indigo charges in staked assets when issuing liquidated ADA

Okay: @Cardano @Indigo_protocol.



Do you know that when you STAKE your synthetic assets { $iBTC, $iETH, $iUSD }, and you get liquidated $ADA, @Indigo_protocol  

CHARGEs you 

part of your synthetic assets, in effect: trading YOUR Bitcoin, ETH and stable for $ADA?

I don't know what they charge: is it 1/100th? 1-to-10? 1-to-1? I don't know (yet).

I don't like this. I participate in @Indigo_protocol for the synthetic assets, not for ME to be partially liquidated of those assets because somebody else was imprudent in their collateralization.

Now, I _MAY_ be making out like gang-busters, and @Indigo_protocol _MAY_ be generously making me very rich. My ETHBTC-reports will bear this, or the opposite, out.

But if you stake synthetic assets on @Indigo_protocol: keep an eye out for this. Do their docs say they do this?

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