Abracadabra MoneyResilience Rising: Abracadabra DAO Next Steps - Full Speed Ahead
Dear Abracadabra Community, First and foremost, we are proud to announce that following the recent exploit, our immediate actions have effectively mitigated the issue. The DAO treasury, with its robust $15M in assets, is prepared to fully collateralise the exploited amount. This decisive step ensures that our protocol operations will continue to run smoothly and safely, maintaining the trust and security our users expect!Exploit and MitigationYesterday we faced a $6.5M MIM exploit due to a vu...
Abracadabra MoneyPost Mortem - attack on GM Cauldrons 25/03/25
Security precautions:1. HexagateAbracadabra integrated Hexagate for automated incident response, configuring it to halt borrowing in cauldrons across supported chains when detecting high or critical issues in monitored contracts. This was achieved through a single permissioned call to the Cauldron Owner contract. The monitors were systematically set up for all cauldron deployments listed in the abracadabra-money-contracts GitHub repository as of 07/02. Hexagate runs a proprietary ML process t...
Abracadabra MoneyAbracadabra Lands on Nibiru
Introduction:With the recent launch of the Nibiru EVM, the ecosystem now requires an efficient stable swap mechanism — and Abracadabra’s MIMSwap is here to fill that role. MIMSwap, Abracadabra’s innovative AMM DEX, is purpose-built for the exchange of tightly pegged assets, enabling users within the Nibiru ecosystem to provide liquidity and earn yield on their stablecoins. To boost rewards even further, users can stake their MagicLP tokens, compounding their earnings on stablecoin assets. In ...
Abracadabra MoneyResilience Rising: Abracadabra DAO Next Steps - Full Speed Ahead
Dear Abracadabra Community, First and foremost, we are proud to announce that following the recent exploit, our immediate actions have effectively mitigated the issue. The DAO treasury, with its robust $15M in assets, is prepared to fully collateralise the exploited amount. This decisive step ensures that our protocol operations will continue to run smoothly and safely, maintaining the trust and security our users expect!Exploit and MitigationYesterday we faced a $6.5M MIM exploit due to a vu...
Abracadabra MoneyPost Mortem - attack on GM Cauldrons 25/03/25
Security precautions:1. HexagateAbracadabra integrated Hexagate for automated incident response, configuring it to halt borrowing in cauldrons across supported chains when detecting high or critical issues in monitored contracts. This was achieved through a single permissioned call to the Cauldron Owner contract. The monitors were systematically set up for all cauldron deployments listed in the abracadabra-money-contracts GitHub repository as of 07/02. Hexagate runs a proprietary ML process t...
Abracadabra MoneyAbracadabra Lands on Nibiru
Introduction:With the recent launch of the Nibiru EVM, the ecosystem now requires an efficient stable swap mechanism — and Abracadabra’s MIMSwap is here to fill that role. MIMSwap, Abracadabra’s innovative AMM DEX, is purpose-built for the exchange of tightly pegged assets, enabling users within the Nibiru ecosystem to provide liquidity and earn yield on their stablecoins. To boost rewards even further, users can stake their MagicLP tokens, compounding their earnings on stablecoin assets. In ...
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With the launch of our Degenbox, Abracadabra can now enhance the yield on interest-bearing collaterals on all the chains it is on! Let’s see how this applies to Binance Smart Chain with out $CAKE strategy!
Let’s dive into our Degenbox Strategy on BSC, how it works and how our users can benefit from it! Before starting, make sure to read how Abracadabra Lending Markets and Leveraged Positions work here.
**Step 1: The Cauldron **Users join the CAKE market either simply depositing collaterals or leveraging their CAKE positions! No matter what they choose, as long as they have an CAKE balance deposited, they will receive rewards from the strategy!
**Step 2: Degenbox **As the CAKE cauldron is built on top of Degenbox, Abracadabra can use the user’s deposited CAKE to produce yield. For this strategy, we are staking CAKE on Pancake Swap for SYRUP tokens. SYRUP tokens are increasing in value over time, as they are incentivised with CAKE emissions.
**Step 3: Distributing Rewards **Once an harvest is triggered, SYRUP tokens are unstaked and the farmed CAKE are then redistributed to every Abracadabra user of the cauldron, proportionally to their deposited amount! Note that a 10% cut is taken as a management fee, and treated as protocol revenue (i.e used in sSPELL buybacks)!
The best thing about it is that there is no need to migrate your collateral. If you had a position already open in that market, you are already earning CAKE rewards!
Note that from now on, users will see their CAKE collateral increase in quantity, not only in value!
Our strategies keep approximately 85% of the CAKE in staked as SYRUP and then in Pancake Swap farming contracts, and 15% in Degenbox to allow users to withdraw smoothly! As a consequence, the amount withdrawable is limited.
Once this limits approaches zero, new CAKE are unstaked and withdrawals are again available!
You can check the amount Available to be withdrawn in the “My Open Position” box, under “Withdrawable Amount”
Check out the Abracadabra money community on Discord - hang out with 27093 other members and enjoy free voice and text chat.
With the launch of our Degenbox, Abracadabra can now enhance the yield on interest-bearing collaterals on all the chains it is on! Let’s see how this applies to Binance Smart Chain with out $CAKE strategy!
Let’s dive into our Degenbox Strategy on BSC, how it works and how our users can benefit from it! Before starting, make sure to read how Abracadabra Lending Markets and Leveraged Positions work here.
**Step 1: The Cauldron **Users join the CAKE market either simply depositing collaterals or leveraging their CAKE positions! No matter what they choose, as long as they have an CAKE balance deposited, they will receive rewards from the strategy!
**Step 2: Degenbox **As the CAKE cauldron is built on top of Degenbox, Abracadabra can use the user’s deposited CAKE to produce yield. For this strategy, we are staking CAKE on Pancake Swap for SYRUP tokens. SYRUP tokens are increasing in value over time, as they are incentivised with CAKE emissions.
**Step 3: Distributing Rewards **Once an harvest is triggered, SYRUP tokens are unstaked and the farmed CAKE are then redistributed to every Abracadabra user of the cauldron, proportionally to their deposited amount! Note that a 10% cut is taken as a management fee, and treated as protocol revenue (i.e used in sSPELL buybacks)!
The best thing about it is that there is no need to migrate your collateral. If you had a position already open in that market, you are already earning CAKE rewards!
Note that from now on, users will see their CAKE collateral increase in quantity, not only in value!
Our strategies keep approximately 85% of the CAKE in staked as SYRUP and then in Pancake Swap farming contracts, and 15% in Degenbox to allow users to withdraw smoothly! As a consequence, the amount withdrawable is limited.
Once this limits approaches zero, new CAKE are unstaked and withdrawals are again available!
You can check the amount Available to be withdrawn in the “My Open Position” box, under “Withdrawable Amount”
Check out the Abracadabra money community on Discord - hang out with 27093 other members and enjoy free voice and text chat.
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