Abracadabra. money is a decentralized crypto lending platform that allows users to obtain loan on digital assets in exchange for stablecoin loans.
Abracadabra. Money, a stablecoin lending platform, is run by a co-founder who is only known as "Squirrel," along with Daniele Sesta.
Abracadabra Money is a cross-blockchain lending platform that allows users to earn money by using their interest-bearing assets.
Abracadabra is built upon things related to terms like Interest (or yield) bearing tokens,Lending pools,Cross-chain system,US-dollar backed stablecoins
Abracadabra magic money has attained success by turning two token formats such as Illiquid token format and Liquid token format into a business model of their own design.
Money earned is in the form of Magic Interest Money (MIM) tokens which are stable coins pegged to the US dollar.
The Magic Money was launched in May 2021. However, it has quickly taken over the DeFi world.
Moreover, the platform’s lending features have been built using Kashi Lending Technology.
The main purpose of SPELL is to facilitate liquidity on the Abracadabra Money’s lending markets. 63% of the total money supply is allocated to the liquidity mining program.
Hope you people found the story informative. For more such interesting stuff, click on the link given below