Abracadabra allows users to leverage on top of their yield-bearing assets through issuance of its overcollateralized MIM stablecoin.

The team still has substantial control over the borrowing platform and has poor risk framework with its accumulation of bad debt (reflexivity with the SPELL governance token being used as collateral).

Abracadabra can be a great way to earn "stacked" yield by depositing your interest-earning assets since collateralization ratios generally improve over time. Your borrowed MIM can then be used within DeFi to generate additional yield and profits.