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Abracadabra is an Open Source DeFi Protocol that focuses on Lending & Borrowing in order to generate yield and provide users with the ability to use leverage. Additionally, it incentivizes users by distributing its governance token SPELL to its users.
The Spool Abracadabra Strategy Deposits Liquidity to the Curve 2Pool+MIM Liquidity Pool (consisting of USDC, USDT & MIM) and stakes this Liquidity into the Abracadabra SPELL Farm to earn SPELL Tokens. The MIM Stablecoin is an overcollateralized Stablecoin issued by Abracadabra and backed by Crypto Assets.
- Name: Abracadabra
- Code: Open Source
- Yield Generation Source: Lending, Borrowing & Leverage
- Governance Token: Yes
- Governance Token Rewards: Yes
- Inception: 2022
- Bug Bounty: Yes, up to $100k for critical bugs