Abracadabra

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 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)

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.

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.

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 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'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)

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. [Forum Discussion](https://forum.abracadabra.money/t/aip-65-discontinuation-of-fantom-markets-and-ending-abracadabra-support-on-fantom-chain/4897)

**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.*

Abracadabra Money has launched AIP #62, proposing deployment of MIMSwap and Abracadabra protocols on Nibiru Chain. - Proposal follows December's RFC for infrastructure-wide deployment of $MIM and MIMSwap - Community discussion ongoing at Abracadabra forum - Twitter Space scheduled for January 23rd with LickMyRomy and Nibiru Chain team The initiative aims to expand Abracadabra's ecosystem through strategic integration with Nibiru Chain. Community members can review and provide feedback on the proposal through the official forum.