Abracadabra

Abracadabra community reminds the hacker of their willingness to coordinate directly and offer a fair bug bounty reward for the hacked funds. They set a deadline of Monday, February 5th, at 16:00 CET to receive any communication before escalating further.

The Abracadabra community has introduced a proposal for the Depeg Contingency Fund (DCF) on their forum. The DCF aims to create a diverse set of assets to protect MIM in times of severe financial stress.

In response to a recent exploit, the DAO treasury will fully collateralize the $6.5M affected to ensure safe operations. @chainalysis is tracking the situation, and the protocol is moving forward with confidence.

Following an exploit targeting certain Cauldrons on Ethereum, the Abracadabra DAO has taken swift action to secure the protocol. The DAO treasury will fully collateralize the $6.5M affected to ensure safe operations. Chainalysis is tracking the situation, and borrowing limits for the affected cauldrons have been set to zero. The DAO has reached out to the attacker and offered a chance to return the funds for a bug bounty. A post mortem will be shared in the future, along with preventative measures. The Abracadabra DAO appreciates the support and understanding of the DeFi community.

An additional 1 million $MIM is now available to be used in the $gmBTC cauldron. Top ups sell out quickly, so it is advised to check both the website and Discord for updates.

With the new deposited rewards, the STIP boosted farms on Abracadabra are currently delivering more than 40% APY for USDC and USDT deposits. Joining the Abracadabra LP incentives program on Arbitrum is simple and fast. Start farming your STIP incentives now.

The popular assets gmBTC and gmETH have sold out quickly due to high demand. Another top up is planned, but availability is expected to be limited. Stay tuned for updates and be prepared to act fast.

New $ARB and $SPELL rewards have been deposited into the $MIM / $USDC / $USDT pool on @arbitrum, offering a 75% APY on stables.

The Velodrome and Aerodrome frontends have been compromised. Users are advised not to use these platforms for their safety.

Abracadabra has announced that users can deposit $USDT, $USDC, or $DAI into the MIM Pool on Curve Finance and supercharge their LP tokens through Convex Finance, earning over 12.8% APY on their stables. The MIM pool yield is being boosted in preparation for the launch of new cauldrons.