The Abracadabra DAO proudly announces the commencement of rewards under the Arbitrum Short-Term Incentive Program (STIP). Our involvement, following the approval of our proposal by Arbitrum DAO, underscores our commitment to enhancing the Arbitrum ecosystem through a comprehensive three-phase approach.Phase 1: MIM Market Making IncentivesThe STIP kicks off with a focus on the MIM Market Making Incentives. This initial phase is critical in establishing a robust foundation for the upcoming gmCa...

The Abracadabra DAO proudly announces the commencement of rewards under the Arbitrum Short-Term Incentive Program (STIP). Our involvement, following the approval of our proposal by Arbitrum DAO, underscores our commitment to enhancing the Arbitrum ecosystem through a comprehensive three-phase approach.Phase 1: MIM Market Making IncentivesThe STIP kicks off with a focus on the MIM Market Making Incentives. This initial phase is critical in establishing a robust foundation for the upcoming gmCa...

tl;dr There were 44 users impacted by a vulnerability discovered in our Cauldron V4 contract. No user funds or protocol funds have been lost. If you have interacted with the GLP cauldron on Arbitrum or the CRV, migrated WBTC, or yvcrvstETH cauldrons on ETH Mainnet, please visit app.abracadabra.money/#/claim to revoke approvals as tokens in your wallet could be at risk. NOTE: The front-end is still being finalized but will be released shortly. In the interim, all funds have been secured in the...

tl;dr There were 44 users impacted by a vulnerability discovered in our Cauldron V4 contract. No user funds or protocol funds have been lost. If you have interacted with the GLP cauldron on Arbitrum or the CRV, migrated WBTC, or yvcrvstETH cauldrons on ETH Mainnet, please visit app.abracadabra.money/#/claim to revoke approvals as tokens in your wallet could be at risk. NOTE: The front-end is still being finalized but will be released shortly. In the interim, all funds have been secured in the...

On November 27th an emergency AIP was pushed to increase yvcrvstETH and cvxRenCRV interest rates. As explained in the AIP, this measure was implemented to incentivise users to close their positions and secure the at-risk collateral. A few days later, thanks to the cooperation with the Sushi team, we have been able to come up with a better solution that will safeguard users and the protocol at the same time. We will explain how the collateral migration will work in the following article!The Ri...

On November 27th an emergency AIP was pushed to increase yvcrvstETH and cvxRenCRV interest rates. As explained in the AIP, this measure was implemented to incentivise users to close their positions and secure the at-risk collateral. A few days later, thanks to the cooperation with the Sushi team, we have been able to come up with a better solution that will safeguard users and the protocol at the same time. We will explain how the collateral migration will work in the following article!The Ri...

tl;dr As a general push towards the NFT ecosystem, Abracadabra is launching its own in house built APE staking autocompounder, and a cauldron to leverage up those rewards!What is magicAPE?Tired of manual staking and compounding your APE rewards on apestake.io? Abracadabra has the product just for you!magicAPE, also known as mAPE, is a wrapper token that automatically compounds the APE yield generated from staked APE coins back into magicAPE to maximise your returns! Each time we compound your...

tl;dr As a general push towards the NFT ecosystem, Abracadabra is launching its own in house built APE staking autocompounder, and a cauldron to leverage up those rewards!What is magicAPE?Tired of manual staking and compounding your APE rewards on apestake.io? Abracadabra has the product just for you!magicAPE, also known as mAPE, is a wrapper token that automatically compounds the APE yield generated from staked APE coins back into magicAPE to maximise your returns! Each time we compound your...

Welcome to a new series that delves into Abracadabra’s newly launched cauldrons. This ongoing series will provide a comprehensive analysis of the cauldron’s performance, including its parameters, profitability and future plans. The chronicles will also monitor the cauldrons over time and provide any updates on changes or developments. The $CRV cauldron, which launched a little over a month ago, has already proven to be one of the most successful cauldrons for the protocol. With an 18% interes...

Welcome to a new series that delves into Abracadabra’s newly launched cauldrons. This ongoing series will provide a comprehensive analysis of the cauldron’s performance, including its parameters, profitability and future plans. The chronicles will also monitor the cauldrons over time and provide any updates on changes or developments. The $CRV cauldron, which launched a little over a month ago, has already proven to be one of the most successful cauldrons for the protocol. With an 18% interes...

Abracadabra is proud to announce its Q1 roadmap, highlighting major advancements and future loans that the community has put together for the protocol. Let’s dive into each of these topics and see what they mean for our protocol!Maximizing Yield with Protocol-Owned Farming (PoF)In this quarter, Abracadabra launched its first PoF (Protocol Owned Farm) which has already shown great success, proving the strength of the platform to utilize idle capital of the treasury and maximizing these returns...

Abracadabra is proud to announce its Q1 roadmap, highlighting major advancements and future loans that the community has put together for the protocol. Let’s dive into each of these topics and see what they mean for our protocol!Maximizing Yield with Protocol-Owned Farming (PoF)In this quarter, Abracadabra launched its first PoF (Protocol Owned Farm) which has already shown great success, proving the strength of the platform to utilize idle capital of the treasury and maximizing these returns...

Abracadabra DAO is thrilled to introduce magicLVL, the latest addition to our robust suite of Magic Autocompounders. This pioneering tool will help users tap into lucrative yields directly on the BNB chain! magicLVL is an autocompounder developed on top of the Level Finance Tranches System. Each tranche has a set of diverse underlying tokens in varied proportions, which serve as liquidity for Level’s Decentralised Perpetual Exchange. Beyond the yield generated from fees, the Level Finance Sta...

Abracadabra DAO is thrilled to introduce magicLVL, the latest addition to our robust suite of Magic Autocompounders. This pioneering tool will help users tap into lucrative yields directly on the BNB chain! magicLVL is an autocompounder developed on top of the Level Finance Tranches System. Each tranche has a set of diverse underlying tokens in varied proportions, which serve as liquidity for Level’s Decentralised Perpetual Exchange. Beyond the yield generated from fees, the Level Finance Sta...

Minimize fees, maximize returnstl;dr Abracadabra is launching a suite of GMX-focused products. First, we are introducing DeFi’s lowest-fee auto-compounding GLP token, magicGLP, which simply takes a 1% fee on magicGLP yield. We are also introducing a magicGLP cauldron that allows users to borrow and lever up against their magicGLP.What is magicGLP?Tired of manual staking and compounding on GMX to maximize your returns on your GLP tokens? So are we. This is why we’ve built DeFi’s cheapest auto-...

Minimize fees, maximize returnstl;dr Abracadabra is launching a suite of GMX-focused products. First, we are introducing DeFi’s lowest-fee auto-compounding GLP token, magicGLP, which simply takes a 1% fee on magicGLP yield. We are also introducing a magicGLP cauldron that allows users to borrow and lever up against their magicGLP.What is magicGLP?Tired of manual staking and compounding on GMX to maximize your returns on your GLP tokens? So are we. This is why we’ve built DeFi’s cheapest auto-...

Abracadabra is coming to Optimism! For the past several months, we’ve been working with the Velodrome team to launch a set of cauldrons for Velodrome LP tokens. We are happy to announce that the first cauldron is ready for you all to use!The StrategyLet’s dive into our Degenbox Velodrome Strategy on Optimism, how it works and how our users can benefit from it! If you’ve never used Abracadabra before, please make sure to understand how our Lending Markets and Leveraged Positions work. More inf...

Abracadabra is coming to Optimism! For the past several months, we’ve been working with the Velodrome team to launch a set of cauldrons for Velodrome LP tokens. We are happy to announce that the first cauldron is ready for you all to use!The StrategyLet’s dive into our Degenbox Velodrome Strategy on Optimism, how it works and how our users can benefit from it! If you’ve never used Abracadabra before, please make sure to understand how our Lending Markets and Leveraged Positions work. More inf...

Beam MIM to any chain with LayerZeroWe’re excited to announce the most significant upgrade for MIM since the inception of Abracadabra. MIM is now the first omnistable built on LayerZero’s Omnichain Fungible Token (OFT) standard. Our integration with Layer Zero is redefining the boundaries of what's possible for a stablecoin, allowing you to experience an unprecedented level of interoperability and freedom. MIM addresses on all chains will not change during the migration. Empowered by Lay...

Beam MIM to any chain with LayerZeroWe’re excited to announce the most significant upgrade for MIM since the inception of Abracadabra. MIM is now the first omnistable built on LayerZero’s Omnichain Fungible Token (OFT) standard. Our integration with Layer Zero is redefining the boundaries of what's possible for a stablecoin, allowing you to experience an unprecedented level of interoperability and freedom. MIM addresses on all chains will not change during the migration. Empowered by Lay...

This groundbreaking tool represents the inaugural native launch on the KAVA chain since the introduction of the Omnistable MIM. It aims to empower users to access attractive yields directly within the KAVA chain ecosystem!In this article, we will thoroughly explore the distinctive qualities of our products and shed light on how magicKLP empowers users to take advantage of DeFi applications, revealing a range of exciting opportunities for generating yields.Presenting magicKLPMagicKLP is an aut...

This groundbreaking tool represents the inaugural native launch on the KAVA chain since the introduction of the Omnistable MIM. It aims to empower users to access attractive yields directly within the KAVA chain ecosystem!In this article, we will thoroughly explore the distinctive qualities of our products and shed light on how magicKLP empowers users to take advantage of DeFi applications, revealing a range of exciting opportunities for generating yields.Presenting magicKLPMagicKLP is an aut...

MagicGLP, the largest GLP auto-compounder on the Arbitrum Network, is now also deploying on the Avalanche Network to allow GMX users to enjoy the benefit of low fee, auto-compounding on every GMX native chain.Less than 2 months ago, MagicGLP made a splash in the DeFi world by launching on Arbitrum, offering GMX users a way to earn boosted GLP rewards through its low-fee auto-compounding technology. Since its launch on the 31st of January, MagicGLP has achieved nearly $28m in TVL and has harve...

MagicGLP, the largest GLP auto-compounder on the Arbitrum Network, is now also deploying on the Avalanche Network to allow GMX users to enjoy the benefit of low fee, auto-compounding on every GMX native chain.Less than 2 months ago, MagicGLP made a splash in the DeFi world by launching on Arbitrum, offering GMX users a way to earn boosted GLP rewards through its low-fee auto-compounding technology. Since its launch on the 31st of January, MagicGLP has achieved nearly $28m in TVL and has harve...