Abracadabra

After the approval of AIP #48, Abracadabra has been positioned as a leading platform for using ETH and similar products as collateral, while increasing DAO revenues. The DAO vote has highlighted Abracadabra's capabilities in borrowing, leveraging, and earning yield.

MIM Spell, a prominent figure in the cryptocurrency space, has announced the launch of a dedicated reward page for the Blast L2 ecosystem. This move aims to address the ongoing discussions and uncertainty surrounding rewards within the Blast L2 ecosystem. The new reward page will provide liquidity providers and users with clear and transparent information about reward distributions, ensuring they have a comprehensive understanding of what they are signing up for. This initiative aligns with Blast L2's mission of offering borrowing, leveraging, and yield earning opportunities within its community.

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.

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.

Abracadabra community members can now track their positions on Zapper and access the platform through Blast L2.

The new Farm page in the MIM ecosystem provides easy access to stable pools and high-yield ventures with a 42.3% APY. The MIM-USDC-USDT pool on CurveFinance offers a TVL of over $13M with an APY of 44.22%. Users can participate by obtaining LP tokens from Curve and depositing them on the Farm page.

Abracadabra community is excited to announce the launch of $MIM and the first cauldrons on Berachain’s Artio Testnet. Users can now borrow testnet $MIM using HONEY/MIM LP tokens directly on Artio.

Abracadabra is excited to collaborate with LayerZero Labs to push the boundaries of crosschain adoption. The MIMnet, maintained by the community's DAO, is at the forefront of these developments.

This week, STIP $ARB rewards have been deposited to the MIM-2Crv, MIM-crvUSD, and MIM-USDC camelot pools. With the MIM peg restored, more stablecoin deposits are now accepted in the liquidity pools. Happy farming!

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.