MIM Spell

🧙🏼‍♂️!

Wizards have been spotted on @NibiruChain 🌋🧙‍♂️

Looks like @MIM_Spell has opened a portal.

✅ MIMSwap Technology
✅ $SPELL rewards
✅ $MIM cauldrons
✅ Leveraged yield farming

Nibiru just got spellbound 🔮👇🏻

https://mirror.xyz/0x5744b051845B62D6f5B6Db095cc428bCbBBAc6F9/8M3Ph5acSG8_YQYbClyNYGa6c6NNLCegvNFEZ8dYBwU

$13M exploit.

50% repaid in less than 36h. Zero user funds lost.

Abracadabra isn’t backing down

We are rebuilding stronger with @berachain , @NibiruChain, and @PurrSwap_ expansions.

SPELL emissions on pools are uninterrupted, with new avenues arriving.

Full remediation by mid-2025.

Treasury holdings at around $19m pre repayment, liquid assets.

Trust, transparency, and action.

Security Update:

The hackers's funds have been consolidated over 3 wallets:

-0x018182FD7B856AeE1606D7E0AA8bca10F1Cb0b5d
-0xa8f822E937C982e65b0437Ac81792a3AdA76A1ff
-0x047C2a3dd1Ab4105B365685d4804fE5c440B5729

We have the full might of @chainalysis and @zeroshadow_io
behind us, through our Crypto Incident Response partnership, which is tapping into their extended network of exchanges and partners as well as successfully tracking the moved funds.

We have also reached out to the attacker via an on-chain message, offering a chance to return the funds and qualify for a bug bounty.

Transactions with message:

https://t.co/sPqRZVwuoA

https://t.co/bM0mCK38bP

https://t.co/1N3u7uTXu9

Reach out at reward@abracadabra.money, on chain to our treasury address on ETH 0xDF2C270f610Dc35d8fFDA5B453E74db5471E126B or our deployer addresses (eg 0xfddfE525054efaAD204600d00CA86ADb1Cc2ea8a).

A full post mortem is coming in the upcoming days.

We thank you all for your patience and support during these challenging times.

The rest of the Abracadabra products remain unaffected by this incident.

We are aware of an exploit in relation to our gmCauldrons.

Core contributors and security engineers are investigating the issue in depth and will provide more information as soon as available.

Each gmCauldron was fully audited by @GuardianAudits prior to release. The same lead auditors as GMX core contracts, gmCauldrons are also integrated within the rest of Abracadabra Security infra including @zeroshadow_io tracking, @hexagate_ response software as well as further security measures behind the scene.

While having multiple systems in place, the exploit was caught only after the attacker executed several transactions. The Zeroshadow team alerted us and we quickly turned off all borrows to all cauldrons.

The full damage of the attack is currently being assessed. We are working together with @GuardianAudits, @GMX_IO, and other security peers to identify the execution of the hack.

No user collateral is affected and this exploit only affects the gmCauldrons.

We are in close contact with @chainalysis who are tracking the funds, that are currently consolidated on 0xaf9e33aa03caaa613c3ba4221f7ea3ee2ac38649.

To the hacker, we are happy to entertain negotiations for a bug bounty of 20% of the total.

Reach out at reward@abracadabra.money or on chain to our treasury address on ETH 0xDF2C270f610Dc35d8fFDA5B453E74db5471E126B.

A full post mortem will be provided once ready.

Henlo, @henlo

1/ 🧙🏼‍♂️!

AIP #65 has passed, marking the discontinuation of support of Abracadabra products on the Fantom ecosystem now that Sonic is launched.

The Fantom ecosystem has 4 cauldrons deployed, which have been deprecated for more than 2 years now and with less than 110k MIM minted against it.

Important Deadlines👇🏻

1️⃣ March 4th – Any unclosed Cauldron positions will face liquidation.
2️⃣ April 11th – MIM on Fantom must be bridged back before this date, as it will no longer be redeemable for ETH afterward.

If you have an open position on the Fantom deprecated markets, please make sure to close it at your earliest convenience to avoid liquidation.

Regarding Fantom SPELL which was affected by the Multichain exploit, recovery efforts will be addressed in a separate proposal subject to DAO approval.

🧙🏼‍♂️!

@elixir 🤝🏼 @MIM_Spell

Following the successful passing of SAIP #54.3, the Minimum Collateral Ratio (MCR) for our $sdeUSD cauldrons has been raised to 90%, making all open positions healthier!✅🔥👇🏻🏛️

https://t.co/Qjpwpx45ls

1.22m $MIM are available to be looped up, with further top ups ready to go!👀👇🏻

🧙🏼‍♂️!

Wanna look for some of the best stablecoin yields in defi?👀

Bring your $DAI, $USDT and $USDC over to the $MIM-3Crv pool on @CurveFinance and stake it on @StakeDAOHQ for boosted rewards in $CRV and $CVX and a current APY of 58.77%!

Step 1️⃣: Deposit your stables on @CurveFinance 👇🏻

https://t.co/ncK4dnjPjN

Step 2️⃣: Take your Curve LP tokens and stake them on @StakeDAOHQ 👇🏻

https://t.co/4SMx5dozxZ

Step 3️⃣: Farm at 58.77% APY!

🧙🏼‍♂️!

@GMX_IO

The gmCauldrons on @arbitrum just received a multi million $MIM top up!🔥🫐

Leverage up on $gmBTC, $gmETH and $gmSOL while remaining exposed to the yield produced on it while paying fixed interest rates!👇🏻👀

https://app.abracadabra.money/#/

🧙🏼‍♂️!

190% base APY and 29.9x Potion farming!👀🔮

Our staked deUSD cauldron just got a $2M MIM top-up!🔥

1️⃣ Get deUSD on Curve:

https://t.co/nvNgyz7uSr

2️⃣ Stake on Elixir in the Apothecary::

https://t.co/V88eBvcOJM

3️⃣ Loop your $MIM position against your staked deUSD to unlock up to a 190% base APY and 29.9x Elixir Potion Multiplier👇🏻🪄

🧙🏼‍♂️!

The magic of @MIMSwap farms is calling!👀🔮

Our @MIMSwap farms are live on @arbitrum, Ethereum, and @KAVA_CHAIN, offering enchanting APYs above 23% mark for $USDT and $USDC deposits!👀🔥

The magic’s real—dive in today and help fuelling the $MIM leverage system👇🏻

🔮

🧙🏼‍♂️!

@MIMSwap pools on @arbitrum are paying again above the 20% apy mark for USDT and USDC deposits with more than 12m in TVL!👀

Jump in those juicy yields, claim your $SPELL and participate in Abracadabra's governance and fee sharing while fuelling our leverage engine!🔥

mSPELL APY is currently sitting at around 11%, in MIM stablecoin yield!💦

🧙🏼‍♂️!

@ethena_labs 🤝🏼 @MIM_Spell 🤝🏼 @chainlink

Our ENA cauldron on @arbitrum is now live and ready to roll!🔥

Mint MIM using ENA as collateral natively on Arbitrum, powered by @chainlink price feeds!👇🏻

https://app.abracadabra.money/#/market/42161/12?action=borrow

🧙🏼‍♂️!

@GMX_IO 🤝🏼 @MIM_Spell

Our gmCauldrons on Arbitrum are getting a fresh top-up soon, and the reduced borrow fee is live! 🔥

https://app.abracadabra.money/#/cauldrons

Mint and loop seamlessly with gmBTC, gmETH, and gmSOL natively on @arbitrum – all with just a 0.3% minting fee! 🔮

🧙🏼‍♂️!

Our $ZRO cauldron is now live using @chainlink price feeds!🔥

@MIM_Spell 🤝🏼 @LayerZero_Core

1m $MIM are available to be minted on @arbitrum!🔮

Mint it now!👇🏻

https://app.abracadabra.money/#/market/42161/11 https://x.com/MIM_Spell/status/1853449798998737052/video/1

🧙🏼‍♂️!

Our brand new USD0++ cauldron in partnership @usualmoney is now live!🔮

Use USD0++ as collateral to mint $MIM and leverage up your pills earning!🔥

Join it now!👇🏻

https://t.co/xix3YCnSEY

Leverage pills farming cauldrons are expected to be selling out fast, so make sure you grab your spot asap and turn on notifications for future top ups!👀🔮

🧙🏼‍♂️!

Our newest @MIMSwap pool is now live in partnership with @usualmoney!🔥🔮

The $MIM / $USD0 pool is now open for deposits!👇🏻

https://app.abracadabra.money/#/pool/2/1

Become an LPer to enjoy Pills rewards!💊🔮 https://x.com/MIM_Spell/status/1842205180844011522/video/1

🧙🏼‍♂️!

If you are at @eth_milano come over to our stand outside the “Impara” stage!🔥

Show your wallet has some $MIM, or that you are part of our Discord community and you are gonna be able to get some magic merch!🪄

One last thing! Coffee is on us for the whole conference👀🔮☕️

🧙🏼‍♂️!

Staked deUSD Top Up Alert!🚨

Another 1M $MIM top up is heading your way!🔥

The 24-hour timer starts NOW! ⏳

With our cauldron delivering up to 29.9x Potion rewards (versus the usual 5x boost), this remains the prime opportunity to earn @elixir Potions! 🧪

Deposit your sdeUSD in the cauldron today and gear up for tomorrow’s top-up 👇🏻🔮