Abracadabra
CDP
Risk Rating
Watch Out
Protocol Code Quality
Protocol Maturity
Protocol Design
Summary
What we like
Abracadabra allows users to leverage on top of their yield-bearing assets through issuance of its overcollateralized MIM stablecoin.
What we like less
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).
What it means for you
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.
Information
Exploit/Hacks
None
Info
Key Metrics
Risk Assessment
Watch Out
Protocol Code Quality
Protocol Maturity
Protocol Design
Things to know about Abracadabra