# Indigo

> Track Indigo's market cap with daily on-chain data. Compare Indigo with other real-world asset (RWA) issuers. See charts and datasets in one place.

Source: [Indigo on Token Terminal](https://tokenterminal.com/explorer/projects/indigo). This page has no metric values. For current values, use the [Token Terminal API](https://tokenterminal.com/docs/api-reference/introduction) or the [MCP server](https://tokenterminal.com/docs/mcp/introduction).

- Token: INDY
- Sectors: Real-world asset (RWA) issuers
- Chains: cardano

## About

### What it is

Indigo Protocol is a decentralized synthetic asset platform on Cardano that allows users to create and trade iAssets — synthetic tokens tracking the price of real-world assets like USD, BTC, and ETH.

### Who uses it

Indigo is governed by INDY token holders through decentralized on-chain governance on Cardano.

### How it works

Indigo enables users to mint synthetic assets (iAssets) by depositing ADA as collateral into CDPs, earning stability fees from borrowers.

## Metrics

Token Terminal tracks these metrics for Indigo daily. Each page has a chart with the full history.

- [Price](https://tokenterminal.com/explorer/projects/indigo/metrics/price)
- [Fully diluted market cap](https://tokenterminal.com/explorer/projects/indigo/metrics/market-cap-fully-diluted)
- [Circulating market cap](https://tokenterminal.com/explorer/projects/indigo/metrics/market-cap-circulating)
- [Token trading volume](https://tokenterminal.com/explorer/projects/indigo/metrics/token-trading-volume)
- [Token turnover (fully diluted)](https://tokenterminal.com/explorer/projects/indigo/metrics/token-turnover-fully-diluted)
- [Token turnover (circulating)](https://tokenterminal.com/explorer/projects/indigo/metrics/token-turnover-circulating)
- [Circulating supply](https://tokenterminal.com/explorer/projects/indigo/metrics/token-supply-circulating)
- [Outstanding supply](https://tokenterminal.com/explorer/projects/indigo/metrics/outstanding-supply)
- [Active addresses (daily)](https://tokenterminal.com/explorer/projects/indigo/metrics/active-addresses-daily)
- [Active addresses (weekly)](https://tokenterminal.com/explorer/projects/indigo/metrics/active-addresses-weekly)
- [Active addresses (monthly)](https://tokenterminal.com/explorer/projects/indigo/metrics/active-addresses-monthly)
- [Transaction count (contracts)](https://tokenterminal.com/explorer/projects/indigo/metrics/transaction-count-contracts)
- [Gas used](https://tokenterminal.com/explorer/projects/indigo/metrics/gas-used)

## Links

- [website](https://indigoprotocol.io/)
- [twitter](https://twitter.com/indigo_protocol)
- [discord](https://discord.com/invite/gVqDRNg7VH)