Dear wizards, it’s been a while since we had a proper update on our operations. Many things have happened since then, and so we’d like to take a moment to give you all a comprehensive look at what we’ve been working on behind the scenes.Bad Debt RepaymentThe first tranche of our bad debt repayment happened a few weeks back. Our outstanding bad debt has been reduced from an initial 12.5m MIM to less than 8.5m. As part of AIP #10, we have also increased the percentage of treasury protocol fees ...

Dear wizards, it’s been a while since we had a proper update on our operations. Many things have happened since then, and so we’d like to take a moment to give you all a comprehensive look at what we’ve been working on behind the scenes.Bad Debt RepaymentThe first tranche of our bad debt repayment happened a few weeks back. Our outstanding bad debt has been reduced from an initial 12.5m MIM to less than 8.5m. As part of AIP #10, we have also increased the percentage of treasury protocol fees ...

With the launch of our Degenbox, Abracadabra can now enhance the yield on interest-bearing collaterals! Let’s see how this applies to the Stargate Cauldrons, no matter what chain they are on!The StrategyLet’s dive into our Degenbox Strategy on Stargate Cauldrons, how it works and how our users can benefit from it! This article will be explaining how the process works for every single Stargate LP market. An example of these markets can be found here. Before starting, make sure to read how Abra...

With the launch of our Degenbox, Abracadabra can now enhance the yield on interest-bearing collaterals! Let’s see how this applies to the Stargate Cauldrons, no matter what chain they are on!The StrategyLet’s dive into our Degenbox Strategy on Stargate Cauldrons, how it works and how our users can benefit from it! This article will be explaining how the process works for every single Stargate LP market. An example of these markets can be found here. Before starting, make sure to read how Abra...

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 our Liquity USD (LUSD) strategy!The StrategyLet’s dive into our Degenbox LUSD Strategy on Ethereum, 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 CauldronsUsers join the LUSD Market (either by simply depositing LUSD a...

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 our Liquity USD (LUSD) strategy!The StrategyLet’s dive into our Degenbox LUSD Strategy on Ethereum, 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 CauldronsUsers join the LUSD Market (either by simply depositing LUSD a...

Dear Wizards, It has been a turbulent 48 hours for the crypto space in general, but our protocol has been performing solidly and reliably. Let’s analyse what happened in the past 48 hours and the effect on our protocol! Bad Debt UpdateThe first tranche of our bad debt repayment happened last week. Our outstanding bad debt has been reduced from an initial 12.5m MIM to less than 8.5m. As part of AIP #10, we have also increased the percentage of treasury protocol fees from 25% to 50%. This marks...

Dear Wizards, It has been a turbulent 48 hours for the crypto space in general, but our protocol has been performing solidly and reliably. Let’s analyse what happened in the past 48 hours and the effect on our protocol! Bad Debt UpdateThe first tranche of our bad debt repayment happened last week. Our outstanding bad debt has been reduced from an initial 12.5m MIM to less than 8.5m. As part of AIP #10, we have also increased the percentage of treasury protocol fees from 25% to 50%. This marks...

Avalanche Cauldrons Vulnerability and Post Mortem Our team was made aware of a potential vulnerability affecting our cauldron contracts on Avalanche through our Immunefi Bug Bounty Program. Since our cauldrons contracts share a codebase with Sushi’s Kashi contracts, we have been working closely together with the Sushi dev team. We ran several tests together to confirm the vulnerability and structure a solution for both affected projects. tl;dr At the time of writing this announcement, the col...

Avalanche Cauldrons Vulnerability and Post Mortem Our team was made aware of a potential vulnerability affecting our cauldron contracts on Avalanche through our Immunefi Bug Bounty Program. Since our cauldrons contracts share a codebase with Sushi’s Kashi contracts, we have been working closely together with the Sushi dev team. We ran several tests together to confirm the vulnerability and structure a solution for both affected projects. tl;dr At the time of writing this announcement, the col...

With the launch of our Degenbox, Abracadabra can now enhance the yield on interest-bearing and LP tokens collaterals! Let’s dive into the strategy for JLP tokens on Avalanche! Please note: due to the migration of TraderJoe’s farm, this strategy is no longer active!The StrategyThe JLP Strategy is out first auto-compounding LP strategy on Avalanche! It will work for all of our Stable/AVAX JLPs markets! No matter if you prefer AVAX/MIM, AVAX/USDT.e or any other market, the strategy will be the s...

With the launch of our Degenbox, Abracadabra can now enhance the yield on interest-bearing and LP tokens collaterals! Let’s dive into the strategy for JLP tokens on Avalanche! Please note: due to the migration of TraderJoe’s farm, this strategy is no longer active!The StrategyThe JLP Strategy is out first auto-compounding LP strategy on Avalanche! It will work for all of our Stable/AVAX JLPs markets! No matter if you prefer AVAX/MIM, AVAX/USDT.e or any other market, the strategy will be the s...

With the launch of our Degenbox, Abracadabra can now enhance the yield on interest-bearing collaterals! Let’s see its first application on our xJOE market! Read more about what xJOE is here.Please note: due to the migration of TraderJoe’s farm, this strategy is no longer active!The StrategyLet’s dive into our first Degenbox Strategy on Avalanche, 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 ...

With the launch of our Degenbox, Abracadabra can now enhance the yield on interest-bearing collaterals! Let’s see its first application on our xJOE market! Read more about what xJOE is here.Please note: due to the migration of TraderJoe’s farm, this strategy is no longer active!The StrategyLet’s dive into our first Degenbox Strategy on Avalanche, 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 ...

For the past several months, we’ve been working with the GMX team behind the scenes to launch a GLP cauldron. We are happy to announce that the first cauldron is ready for you all to use!The StrategyLet’s dive into our Degenbox GLP Strategy on Arbitrum, 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 information can be found here.Step 1: The CauldronAs a user,...

For the past several months, we’ve been working with the GMX team behind the scenes to launch a GLP cauldron. We are happy to announce that the first cauldron is ready for you all to use!The StrategyLet’s dive into our Degenbox GLP Strategy on Arbitrum, 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 information can be found here.Step 1: The CauldronAs a user,...

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!The StrategyLet’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 col...

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!The StrategyLet’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 col...

As part of our efforts to reach sustainability and reduce emissions, we have assessed the profitability of each cauldron in the hopes of identifying potential improvements. Initially Abracadabra opened several 0% fee cauldrons to promote growth. These cauldrons are currently costing the protocol essential liquidity in terms of our MIM3 pool which could be redirected to more profitable cauldrons. Five cauldrons have been identified which can optimize the MIM peg through interest rate hikes. We...

As part of our efforts to reach sustainability and reduce emissions, we have assessed the profitability of each cauldron in the hopes of identifying potential improvements. Initially Abracadabra opened several 0% fee cauldrons to promote growth. These cauldrons are currently costing the protocol essential liquidity in terms of our MIM3 pool which could be redirected to more profitable cauldrons. Five cauldrons have been identified which can optimize the MIM peg through interest rate hikes. We...

If you are an Ethereum user you are probably well aware of this, but we are getting closer and closer to the long-awaited Merge. Let’s dive in and see how this update will affect our protocol! tl;dr: The Abracadabra team is confident that our protocol will continue operating on the new POS chain seamlessly and your user experience will remain unchanged. We recommend not interacting with Abracadabra on the POW chain to avoid replay attacks and oracle disruptions.The MergeThe Merge is a major u...

If you are an Ethereum user you are probably well aware of this, but we are getting closer and closer to the long-awaited Merge. Let’s dive in and see how this update will affect our protocol! tl;dr: The Abracadabra team is confident that our protocol will continue operating on the new POS chain seamlessly and your user experience will remain unchanged. We recommend not interacting with Abracadabra on the POW chain to avoid replay attacks and oracle disruptions.The MergeThe Merge is a major u...

Abracadabra never stops innovating, deep dive in this introduction article for our new version of Cauldrons: our isolated lending markets engine. Let’s start with a brief introduction on what cauldrons are. Cauldrons are Abracadabra’s modified and licensed version of Kashi lending Markets, that run on both Degenbox and Bentobox. Cauldrons allow users to borrow MIM using another asset as collateral. Each cauldron is collateral specific and the complete list of all the Abracadabra’s lending mar...

Abracadabra never stops innovating, deep dive in this introduction article for our new version of Cauldrons: our isolated lending markets engine. Let’s start with a brief introduction on what cauldrons are. Cauldrons are Abracadabra’s modified and licensed version of Kashi lending Markets, that run on both Degenbox and Bentobox. Cauldrons allow users to borrow MIM using another asset as collateral. Each cauldron is collateral specific and the complete list of all the Abracadabra’s lending mar...