ABRACADABRA.MONEY

Abracadabra.money is a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD pegged stablecoin (Magic Internet Money - MIM), that can be used as any other traditional stablecoin.

Currently, a lot of assets, such as yVaults have locked in capital that can't be put to further use. Abracadabra offers an opportunity to use it.

Borrow

Abracadabra uses Kashi Lending Technology to provide isolated lending markets, that allow users to adjust their risk tolerance according to the collateral they decide to use. 

Leverage

One of the features of using Kashi as our lending engine is that it allows users to leverage their interest-bearing tokens positions. Here at Abracadabra, we have developed a one-click UI that allows you to do so automatically. Let's dive into this!

Choose Chain

Choose chain allow user to change the chain on which they are using on Abracadabra. Please note that a position on Ethereum will not pop up if you are using Fantom, and vice versa.

MIM Balance on Bentobox/Degenbox

This frame describes the amount of MIM that the user has on Bentobox. Keep in mind that. as Abracadabra is using Kashi Technology. it interacts with Bentobox.

Fee Sharing

The Stake page allows users to take part in the fee sharing mechanism of Abracadabra!

We currently support two staking methods:

1. sSPELL - stake SPELL tokens and earn more SPELL
2. mSPELL - stake SPELL tokens and earn stablecoin income through $MIM

Abracadabra has 3 main tokens.

SPELL: the protocol's token which is used for incentivization.

sSPELL: obtained by staking SPELL tokens and used for fee-sharing and governance!

MIM: a USD pegged stable coin