Abracadabra Community Update on Blast_L2 Points Distribution
Abracadabra Community Update on Blast_L2 Points Distribution
Abracadabra distributed another 10m Blast_L2 Points to cauldron users and MIMSwap LLE participants. Users can farm stablecoins on Abracadabra and secure a lifetime founder boost through LLE. Participants earn Blast Points, Gold Points, and are eligible for Potion Points leading to a $SPELL airdrop.
1/ ๐ง๐ผโโ๏ธ We've officially launched on @Blast_L2 mainnet! Experience boosted yields, points distributions and seamless stablecoin swaps, including the groundbreaking @MIMSwap and a unique rewards system!๐ฅ mirror.xyz/0x5744b051845Bโฆ
๐ง๐ผโโ๏ธ! Our first @Blast_L2 points distribution is now live!๐ฎ 15m BLAST points have been distributed between cauldron users and LLE participants already! Use our products, lock MIM or USDB and enjoy these amazing points rewards! Point Boosting Guide:๐ x.com/MIM_Spell/statโฆ
$MIM Deposit Guide: 1. Buy $MIM: Mainnet: curve.fi/#/ethereum/pooโฆ Arbitrum: curve.fi/#/arbitrum/pooโฆ 2. Beam to @Blast_L2: Use our beaming technology to bridge MIM to Blast: app.abracadabra.money/#/beam 3. Deposit MIM app.abracadabra.money/#/blast To earn 20x boost, click on Lock & Boost
Within 24hrs, Abracadabra's LLE saw $2.8M stable deposits & $4.32M in ETH deposits to cauldrons, all earning boosted points Use these strategies to benefit from @MIM_Spell's full airdrop distribution to its users, following their victory in the Big Bang Competition on @Blast_L2!
๐ง๐ผโโ๏ธ! By launching @MIMSwap, we're supercharging our infrastructure on @Blast_L2 !๐ฎ Faster launches, more frequent top-ups, and boosted yields for more users! ๐ If you are building on @Blast_L2, and want to create some synergies, reach out to our contributors on discord!๐ฅ
1/๐ง๐ผโโ๏ธ! We've secured a substantial airdrop from the Big Bang Competition!๐ฅ Our cauldrons have consistently ranked in the top 10 for leveraged lending on @DefiLlama, and the premiere of MIMSwap on @Blast_L2 is set to enhance their performance even further!โฌ๏ธ๐ฎ
Abracadabra Suffers Security Exploit, DAO Treasury Fully Reverses Attack Impact
A security vulnerability hit Abracadabra's deprecated V4 cauldrons on Ethereum, allowing an attacker to mint **1.79 million MIM tokens**. **Quick Response** - DAO Treasury immediately identified and mitigated the vulnerability - Bought back all affected MIM from the market - **No user funds were lost** during the incident **Current Status** - Attack effects have been **completely reversed** - Cauldron borrowing temporarily disabled for code review - All systems remain stable **Investigation Ongoing** - Bug bounty offered for information leading to hacker identification - Team reviewing codebase before future deployments - [Transaction details](https://etherscan.io/tx/0xbaede1ddbab71fb48d25139e720356d8c487d47ce4b94aaf683969dc1fb1c984) available on Etherscan This marks another security incident for the protocol, which faced similar exploits in early 2024 affecting V3 and V4 cauldrons.
Abracadabra Launches SPELL Token Bridge to Nibiru Chain
Abracadabra DAO has expanded its cross-chain capabilities by launching SPELL token support on the Nibiru beam bridge. This integration enables users to seamlessly transfer SPELL tokens between Ethereum, Nibiru, and other supported blockchain networks. The expansion follows the successful launch of MIM (Magic Internet Money) on Nibiru Chain in May 2025, which introduced omnichain stablecoin functionality using LayerZero technology. Key Features: - Direct token transfers without wrapping - Cross-chain compatibility - Enhanced capital efficiency - Simplified user experience Users can access the beam bridge at [Abracadabra's Beam Portal](https://app.abracadabra.money/#/beam)
MIMSwap Launches on Nibiru Chain
Abracadabra's MIMSwap has launched on Nibiru Chain, introducing their stablecoin AMM technology to the ecosystem. The platform offers: - Low-slippage trading specifically optimized for stablecoins - Capital-efficient swap mechanisms - Integration with Nibiru's high-performance DeFi infrastructure This follows the recent $MIM token launch on Nibiru via LayerZero's Beaming technology, enabling cross-chain transfers with networks like Ethereum and Arbitrum. The team plans to introduce new liquidity provision opportunities and expand omnichain integrations. To access MIM on Nibiru, users can utilize the [Beam portal](https://app.abracadabra.money/#/beam) for seamless cross-chain transfers.
MIM Stablecoin Launches on Nibiru Chain with LayerZero Integration
Abracadabra Money's $MIM stablecoin has officially launched on Nibiru Chain, featuring seamless cross-chain transfers via LayerZero's Beaming technology. Key features: - Direct transfers between Ethereum, Arbitrum, and other chains - No wrapping or bridging required - Enhanced capital efficiency through omnichain functionality How to use: 1. Visit [Beam portal](https://app.abracadabra.money/#/beam) 2. Select source chain 3. Choose Nibiru as destination 4. Connect wallet and initiate transfer This integration follows a community proposal from December 2023 that outlined infrastructure deployment plans for both $MIM and MIMSwap on Nibiru Chain.
MIM_Spell Launches on Nibiru Chain with Full Suite of DeFi Services
Abracadabra Money's MIM_Spell has officially launched on Nibiru Chain, introducing multiple DeFi capabilities: - MIMSwap Technology integration - SPELL token rewards system - MIM cauldrons deployment - Leveraged yield farming features This launch follows the December 2023 proposal for infrastructure-wide deployment of MIM and MIMSwap on Nibiru. The integration brings comprehensive DeFi functionality to the Nibiru ecosystem. [Read the full announcement](https://mirror.xyz/0x5744b051845B62D6f5B6Db095cc428bCbBBAc6F9/8M3Ph5acSG8_YQYbClyNYGa6c6NNLCegvNFEZ8dYBwU)