MIMSwap Liquidity Provider Rewards and Point Distributions on Blast L2
MIMSwap Liquidity Provider Rewards and Point Distributions on Blast L2
🧙♂️ Rewards Unlocked!
Abracadabra has announced that gold and point distributions for MIMSwap liquidity providers have started on the Blast L2 network. Liquidity providers can stake and lock their positions to earn a share of the 100,000 GOLD tokens received by the Abracadabra DAO. Details on current and future distributions are available in their latest Mirror article. Previously, the MIMSwap user interface went live on Blast L2, allowing for swapping of the MIM stablecoin. A portion of GOLD distributions is being awarded to founders. The project's Liquidity Lockup Event (LLE) Phase 2 is underway, giving users a final chance to gain the Founder's Boost on Blast L2 before the MIMSwap launch.
🧙🏼♂️! Gold and Point distributions for @MIMSwap LPers have started on @Blast_L2!🔮 LP, Stake and Lock if you wish, to earn your share of the 100k GOLD received by our DAO!🔥 Read about our current and future distributions in our latest Mirror article!📖 mirror.xyz/0x5744b051845B…
🧙🏼♂️! Our LLE Phase 2 is finally here, the last chance for our users to gain the Founder's Boost directly on @Blast_L2!♻️👀 Read up on all of its benefits and updates while we gear up for the imminent @MIMSwap launch! 🔮🔥📖👇🏻 mirror.xyz/0x5744b051845B…
🧙🏼♂️! @MIMSwap UI is now live and deployed, allowing for the first swapping avenue for $MIM on @Blast_L2!🔥 app.abracadabra.money/#/mim-swap Our first GOLD distribution is also coming soon, rewarding MIMswap LPers!🔮 20% of all GOLD distributed will be awarded to Founders alone!🏆
🧙🏼♂️! Thanks to the overwhelming community demand, the LLE period is extended for 2 more weeks!🔮 LLE participants will keep earning points and get an additional chance to gain the Founder’s Boost, preparing for @MIMSwap Launch! 🔥 Read all about it!👇🏻📖 mirror.xyz/0x5744b051845B…
🧙🏼♂️! During Phase 2, Point distributions become more frequent! All LLE participants are receiving Points in an hourly interval. You can track these distributions on our UI: app.abracadabra.money/#/blast
Abracadabra Proposes Interest Rate Hikes to Push V1 Users Toward V2 Migration
Abracadabra has introduced a proposal to gradually increase borrowing rates on V1 cauldrons over 30-60 days as part of its transition to V2. **Key objectives:** - Stabilize the MIM stablecoin peg - Consolidate liquidity before V2 launch - Encourage users to migrate from V1 to V2 - Optimize protocol reserves and revenue The RFC outlines the pace and structure of these rate increases, using higher borrowing costs as an economic incentive for migration. This approach aims to concentrate liquidity in preparation for the V2 deployment while maintaining protocol health during the transition period. [Read the full proposal](https://forum.abracadabra.money/t/rfc-1-gradual-interest-rate-increase-for-v1-cauldrons-during-v2-transition/12)
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