After a successful proposal vote that brings Cauldrons and Degenbox to the BSC, the protocol has launched on BSC with 2 markets.
Protocol Lands on BSC with Two Markets
Abracadabra.Money has finally landed on Binance Smart Chain (BSC) with 2 markets, Wrapped BNB (WBNB) and PancakeSwap (CAKE), as per the protocol’s official Twitter post.
The announcement also mentioned that in a bid to attempt “something new” to allow the community to get their MIM tokens, the top-up for these “cauldrons” hasn’t begun yet. For now, users can deposit collaterals and wait on the top-up to begin borrowing. The only official MIM on BSC is available through the Anyswap Network.
“Abracadabra.money is a multichain project and because of this it is a no brainer to deploy on BSC as it is the second largest chain in this EVM ecosystem,” mentioned the passed proposal for deploying Cauldrons and Degenbox on BSC that was started on Oct. 27 that lasted till Oct. 29.
As previously reported by BscNew, the protocol passed the proposal to launch on the BSC network earlier this month, on Oct. 29. Over 99.8% of votes in the governance proposal were cast in favor of launching on BSC.
Additionally, the protocol launched its first Degenbox Strategy on Avalanche that enhances the yield on interest-bearing collaterals on Nov. 24, as per the announcement via a Twitter post.
About Abracadabra Magic
Abracadabra.magic is a magical cryptocurrency spellbook that enables its users to produce Magic Internet Money (MIM) token, which is a stablecoin that can be swapped for any of the other traditional stablecoins. Users, i.e., the spellcasters, can provide collateral in the form of various interest-bearing crypto tokens like yvYFI, yvUSDT, yvUSDC, xSUSHI, and more.
Find more about Abracadabra here:
Source : bsc.news
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