Total Value Locked$3.04m
TVL by Chain
Cardano$3.04m
Key Metrics
Cumulative Fees$9.37m
Cumulative Fees by chain
Cardano$9.37m
Cumulative Revenue$4.19m
Cumulative Revenue by chain
Cardano$4.19m
Cumulative Holders Revenue$998,512
Cumulative Holders Revenue by chain
Cardano$998,512
Market Cap$1.65m
$INDY Price$0.081
Fully Diluted Valuation$2.83m
$INDY Volume 24h$2,523
CEX Volume$0
DEX Volume$2,593(102.78% of total)
Staked$905,554(54.79% of mcap)
Protocol Information
Indigo is a decentralized non-custodial synthetic assets protocol built for Cardano
Audits:
Methodology
TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHubFees: CDP fees paid by users (mint fees, interest payments, and redemption fees), collected by the Treasury and INDY stakers. Excludes liquidated collateral, which is distributed to Stability Pool depositors rather than paid to the protocol.View code on GitHubRevenue: CDP fees collected by the Treasury and distributed to INDY stakers.View code on GitHubHolders Revenue: CDP fees distributed to INDY stakers.View code on GitHubYields
Pools Tracked4
Average Supply APY0%
Competitors
Indigo history
TVL is the default DefiLlama definition, which excludes Staking. Daily values are UTC snapshots from Nov 24, 2022 to Nov 8, 2026.
All-time high TVL: $125.56m on Mar 12, 2024. All-time low TVL: $3.04m on Jun 26, 2026.
Daily TVL, Oct 10, 2026 to Nov 8, 2026
| Date | TVL |
|---|---|
| Oct 10, 2026 | $4.21m |
| Oct 11, 2026 | $4.27m |
| Oct 12, 2026 | $4.31m |
| Oct 13, 2026 | $3.97m |
| Oct 14, 2026 | $4.06m |
| Oct 15, 2026 | $3.93m |
| Oct 16, 2026 | $3.95m |
| Oct 17, 2026 | $3.86m |
| Oct 18, 2026 | $3.79m |
| Oct 19, 2026 | $3.81m |
| Oct 20, 2026 | $3.66m |
| Oct 21, 2026 | $3.79m |
| Oct 22, 2026 | $3.83m |
| Oct 23, 2026 | $3.58m |
| Oct 24, 2026 | $3.55m |
| Oct 25, 2026 | $3.53m |
| Oct 26, 2026 | $3.46m |
| Oct 27, 2026 | $3.49m |
| Oct 28, 2026 | $3.47m |
| Oct 29, 2026 | $3.47m |
| Oct 30, 2026 | $3.12m |
| Oct 31, 2026 | $3.3m |
| Nov 1, 2026 | $3.26m |
| Nov 2, 2026 | $3.27m |
| Nov 3, 2026 | $3.21m |
| Nov 4, 2026 | $3.18m |
| Nov 5, 2026 | $3.34m |
| Nov 6, 2026 | $3.08m |
| Nov 7, 2026 | $3.12m |
| Nov 8, 2026 | $3.07m |
TVL at each month end, Dec 2024 to Nov 2026
| Date | TVL |
|---|---|
| Dec 31, 2024 | $70.16m |
| Jan 31, 2025 | $76.79m |
| Feb 28, 2025 | $48.6m |
| Mar 31, 2025 | $48.07m |
| Apr 30, 2025 | $46.21m |
| May 31, 2025 | $44.98m |
| Jun 30, 2025 | $33.92m |
| Jul 31, 2025 | $44.1m |
| Aug 31, 2025 | $41.12m |
| Sep 30, 2025 | $32.9m |
| Oct 31, 2025 | $22.84m |
| Nov 30, 2025 | $12.84m |
| Dec 31, 2025 | $10.26m |
| Jan 31, 2026 | $8.53m |
| Feb 28, 2026 | $7.39m |
| Mar 31, 2026 | $6.38m |
| Apr 30, 2026 | $6.41m |
| May 31, 2026 | $6.19m |
| Jun 30, 2026 | $3.4m |
| Jul 31, 2026 | $3.99m |
| Aug 31, 2026 | $3.93m |
| Sep 30, 2026 | $4.36m |
| Oct 31, 2026 | $3.3m |
| Nov 8, 2026 (latest) | $3.07m |
TVL at each year end, Dec 31, 2022 to Dec 31, 2025
| Date | TVL |
|---|---|
| Dec 31, 2022 | $7.79m |
| Dec 31, 2023 | $98.73m |
| Dec 31, 2024 | $70.16m |
| Dec 31, 2025 | $10.26m |
Fees, revenue and holders revenue by UTC calendar month, Oct 2024 to Sep 2026
| Month | Fees | Revenue | Holders revenue |
|---|---|---|---|
| Oct 2024 | $409,597 | $409,376 | $136,105 |
| Nov 2024 | $762,659 | $471,213 | $150,468 |
| Dec 2024 | $277,759 | $202,021 | $68,214 |
| Jan 2025 | $192,579 | $153,788 | $50,696 |
| Feb 2025 | $317,517 | $305,476 | $103,405 |
| Mar 2025 | $193,925 | $134,644 | $43,187 |
| Apr 2025 | $757,294 | $757,246 | $230,240 |
| May 2025 | $90,861 | $90,839 | $20,456 |
| Jun 2025 | $253,510 | $181,513 | $10,255 |
| Jul 2025 | $298,470 | $278,591 | $75,065 |
| Aug 2025 | $117,882 | $109,271 | $3,036 |
| Sep 2025 | $1.98m | $152,363 | $17,426 |
| Oct 2025 | $812,030 | $328,868 | $5,211 |
| Nov 2025 | $300,868 | $251,959 | $33,702 |
| Dec 2025 | $653,901 | $132,133 | $22,010 |
| Jan 2026 | $821,096 | $42,470 | $9,830 |
| Feb 2026 | $271,709 | $101,381 | $9,849 |
| Mar 2026 | $32,304 | $14,842 | $2,158 |
| Apr 2026 | $71,089 | $40,422 | $346 |
| May 2026 | $111,713 | $24,837 | $528.45 |
| Jun 2026 | $640,886 | $583 | $0 |
| Jul 2026 | $0 | $0 | $0 |
| Aug 2026 | $0 | $0 | $0 |
| Sep 2026 | $0 | $0 | $0 |
The .csv export on the chart above downloads every daily value. The same data is in the public API: https://api.llama.fi/protocol/indigo
Frequently asked questions
What is Indigo's TVL?
As of Nov 8, 2026, Indigo has $3.04m in total value locked. TVL has decreased 24.6% over the past 30 days.
What chains does Indigo operate on?
Indigo operates on Cardano. Cardano holds the largest share at 100%.
What is the INDY token price and valuation?
INDY is currently trading at $0.081. Its circulating market capitalization is $1.65m, ranking it #3,034. Its fully diluted valuation is $2.83m. Supply currently stands at 20.45m circulating, 35m total supply, 35m maximum supply.
How has INDY performed recently?
INDY is down 12.8% over the past 7 days and down 32.9% over the past 30 days. Its all-time high is $4.50, reached on Jul 13, 2023. The token is currently 98.2% below that level.
How does Indigo's TVL compare to similar protocols?
Among CDP protocols tracked by DefiLlama, Indigo ranks #23 by TVL. The category holds $5.986b across 197 protocols, and Indigo accounts for 0.1% of that total. Similar protocols include reed, Sky Lending, USDD, Liquity V1, crvUSD, Reservoir Protocol, Liquity V2, Lista CDP, Frankencoin, and Inverse Finance FiRM.
How many yield pools does Indigo have?
DefiLlama tracks 4 Indigo yield pools with an average APY of 0%.