Abracadabra Discontinues Fantom Support, Sets Critical Deadlines
Abracadabra Discontinues Fantom Support, Sets Critical Deadlines
🧙♂️ Fantom Support Vanishing Soon
Abracadabra Money's AIP #65 has passed, ending support for products on Fantom following Sonic's launch. Four deprecated cauldrons with ~110k MIM exposure will be affected.
Critical Deadlines:
- March 4th: Liquidation of unclosed Cauldron positions
- April 11th: Final date for bridging MIM back from Fantom
Note: Fantom SPELL recovery from Multichain exploit will be addressed separately.
Previous update: AIP #48 passed, initiating interest rate increases for Ethereum Mainnet cauldrons to enhance DAO revenue.
1/ 🧙🏼♂️! AIP #65 has passed, marking the discontinuation of support of Abracadabra products on the Fantom ecosystem now that Sonic is launched. The Fantom ecosystem has 4 cauldrons deployed, which have been deprecated for more than 2 years now and with less than 110k MIM minted
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)
Abracadabra DAO to Incubate PurrSwap on HyperEVM
Abracadabra Money DAO announces plans to incubate PurrSwap, a new AMM built on MIMSwap technology for the HyperEVM ecosystem. Key developments: - PurrSwap will focus initially on stable asset exchanges - Volatile trading pairs planned post-mainnet launch - Integration with Abracadabra cauldrons forthcoming - VE(3,3) tokenomics model to be implemented The partnership aims to establish PurrSwap as the primary liquidity hub for HyperEVM, leveraging Abracadabra's existing technology to capture trading volume and provide deep liquidity pools. [Learn more about the proposal](https://forum.abracadabra.money/t/aip-67-strategic-incubation-of-purrswap-hyperevm-dex/4893)
Abracadabra DAO Launches PurrSwap on HyperEVM
Abracadabra DAO's AIP #67 has passed, marking the launch of PurrSwap - the first liquidity marketplace on HyperEVM powered by MIM technology. Key features: - VE(3,3) tokenomics model for comprehensive liquidity - Low slippage pair swaps - Deep liquidity pool integration - Planned integration with Abracadabra cauldrons This strategic move positions Abracadabra at the forefront of HyperEVM infrastructure, aiming to establish MIM and PurrSwap as the primary liquidity hub. For more details: [Forum Discussion](https://forum.abracadabra.money/t/aip-67-strategic-incubation-of-purrswap-hyperevm-dex/4893)
MIM Goes Live on Berachain with SPELL Omnichain Deployment Approved
**Key Updates**: - MIM is now operational on Berachain mainnet - KodiakFi and InfraredFinance cauldrons launching soon - SPELL's first omnichain deployment received DAO approval, utilizing LayerZero technology This expansion follows the successful Q5 launch and implementation of MIM/Honey vaults through KodiakFi and InfraredFinance Boyco platforms. *Stay tuned for further developments on Berachain.*