A Tour of Cardano Indigo protocol

Let's open a @Cardano @Indigo_protocol position.

This will be a fun little tour/HOWTO.

Please see @technologypoet deep-dive into Indigo.

To invest into @Indigo_protocol, I need liquidity on @Cardano.

There are several ways to get liquidity to Cardano. I have liquidity on @avax, so I'll transfer from there via @coinbase.

I transfer $AVAX from my Avalanche-wallet to Coinbase, swap to $ADA, then transfer to Cardano.

So, buying $iETH. There're 2 ways to do this:

1. Mint $iETH with $ADA (staked, even, as @Indigo_protocol allows this). Here, however, is a risk of liquidation that doesn't interest me, as I'm not interested in keeping the $ADA, as others of you may be, if so: choose this option.

2. Instead, I choose to swap my $ADA for $iETH, which I do.

This option has a risk. If $ADA skies, I miss out on that rocket-train to the Moon (and, yes: I just said 'rocket-train').

When I become an $ADA-maxi, I'll (also) incorporate the first way into my investment strategy.

Next, I go to stake my $iETH to start earning those sweet, sweet $ADA-yields (which I don't care about, at present, but maybe I'll stake the $ADA-yields to mint $iETH? to stake the $iETH to earn $ADA-yields)

I'M NOT A DEGEN! I SWEARSIES! 

Narrator: liar.

me: 😤

I get the surprise of my movin' body, however, when I go to stake: I'm informed that my wallet collateral is 'missing' and I must authorize it before I can stake.

There is nothing in the @Indigo_protocol documentation about this problem, so I paste the error into @startpage. 

Come to find that this is a Cardano-ism. You send your own address 5 $ADA to make this problem go away.

Hey: don't look at me. I don't make the rules. 

Once I send 5 $ADA ... to myself (?) 🙄 I'm able to stake that $iETH and start earning those sweet, sweet $ADA-yields.