So we know that ADA along with some stable coins will be accepted as collateral initially on Indigo platform. Afterwards, and with DAO voting, other tokens like INDY itself or other Cardano Native assets can be added to the list. Also once Cardano ecosystem gains traction, there will be many wrapped tokens like wrapped BTC or wrapped ETH on Cardano blockchain. These assets can also be accepted as collateral in the coming future as they are backed with actually assets. But for this to happen, people will first need to deposit their BTC or ETH to a cross chain bridge and then receive their wrapped versions on Cardano. Now they need to again deposit these wrapped token to Indigo smart contract in order to mint an iAsset.
But if the Indigo protocol is linked with an Indigo bridge, then the users just have to submit their ETH or BTC to the bridge smart contract and can simply mint iAsset on Indigo protocol. Once they deposit iAsset back to Indigo protocol, they can recieve their BTC or ETH back directly on native Blockchain.
Now I am just trying to learn new things and this might be a stupid idea. In that case please pardon me.
Okay, so first, is it possible to link one smart contract with the other. I mean there will be 2 different smart contracts, one for cross chain bridge and another for Indigo protocol. How would they 2 be linked.? May be you need another SC which will link these two. Novel idea but I fon’t think it will be feasible.
Indigo plans to utilize cross chain bridges as they are developed
There is not going to be a single winning blockchain and interoperability is going to be key.
The main point is Cardano ecosystem gains traction, because Indigo wil have cross chain bridges and in my opinion it’s have everything to grow up.
All i can think is wormhole😳
I would assume there wouldn’t be a problem with a bridge. Would love to see a partnership with Nervos and Indigo- that could potentially open things up quite a bit if Nervos is successful with their bridge projects.
Bridge to Ergo would be great. Both eutxo. Having iassets tradable there opens up another ecosystem with close ties to Cardano in both community and technology.
I think this was stated before. The team wont make its own bridge it’ll utilize a bridge Indigo is confident in.
You will need it, spend a lot of effort on doing it excellent. I have spent 4 days exploring ATOM/LUNA which is a highly ranked eco system. However, their newly launched bridge was just horrible to use, it really takes down the whole impression oof an otherwise cool environment
If a bridge will help with the high Cardano fees then sounds good to me
Yeah but wasn’t that on Solana? So a rushed, VC backed, centralised solution to a critical piece of infrastructure.
I’m of two minds regarding bridges. On one hand they are vital for the space to be effective. On the other cross chain assets will require more SC’s thus introducing more attack vectors. So RIP funds until best practices are set in stone.
I would like to see Indigo link up with Ergo cross-chain
This would be made easier with a partnership with Ergodex who are building on both blockchains
AnetaBTC also launch on both chains
Having access to iassets on Ergo as well as Cardano would be great
Indigo won’t build one but Milkomeda will accelerate Indigo’s growth as we get more liquidity from other chains on board.
Milkomeda looks like the perfect partner for this also they can exchange ideas with anetaBTC for wrap coins through bridge
Will be really interesting if we start seeing iassets go the other way. IE Wrapped iassets on ETH or where ever. If the right iasset is created and only available on Indigo/Cardano I could definetly see this occuring
I don’t think a bridge will help lower the fees.