Abracadabra Crypto Platform

Abracadabra.money protocol is an open-source, decentralized crypto finance platform that provides lending, borrowing, swapping, staking, and leverage trading tools for users. Abracadabra protocol’s founders are anonymous. Daniele Sestagalli and Squirrel (Squirrel’s real name is unknown) run the platform since its launch in May 2021. There is not enough information and detail about the project’s founders, investors and team on the web or on the official website.

Abracadabra is a decentralized stablecoin lending protocol against collateralized interest-bearing crypto assets. Abracadabra protocol is has its cross-chain stablecoin Magic Internet Money (MIM) that is pegged to US Dollar. Users can get a loan in MIM stablecoin by collateralizing their tokens in vaults. Users keep earning rewards for staking their tokens, while the tokens are collateralized. The protocol passed $1 Billion market cap in October 2021, when the Bitcoin price was at an all-time high.

Read more ...

Pros

$113,524,549 USD currently invested (TVL)

Investments in 9 coin pairs available

Supports protocols including Arbitrum and Ethereum

Cons

Investments in liquidity pools can be higher risk

Liquidity pool investments are only suitable for advanced crypto users

Abracadabra Savings Accounts

1

Hide Filters

Term

Clear

Select All

Yield

Clear

Token Type

Clear

Select All

Columns

Clear All Filters

	Yield	Tokens	Term	Yield	Yield Trend
	26.2% SPELL 26.2% APY	WETH SPELL	Instant Access	26.2% SPELL 26.2% APY
	9.02% SPELL 9.02% APY		Instant Access	9.02% SPELL 9.02% APY
	5.9% 5.9% APY		Instant Access	5.9% 5.9% APY
	5.21% 5.21% APY		Instant Access	5.21% 5.21% APY
	5.21% 5.21% APY		Instant Access	5.21% 5.21% APY
	3.99% 3.99% APY		Instant Access	3.99% 3.99% APY
	3.96% 3.96% APY		Instant Access	3.96% 3.96% APY
	3.31% 3.31% APY		Instant Access	3.31% 3.31% APY
	2.4% 2.4% APY		Instant Access	2.4% 2.4% APY

No matching yield products found

Abracadabra Reviews

Abracadabra Supported Currencies

Abracadabra supports over 10 currencies including Ethereum, Shiba Inu, PancakeSwap and FTX Token.

Abracadabra Key Data

Company

Open source	No
Non-custodial	Yes

Products

Savings accounts	Yes
Loans	Yes
Crypto to crypto exchange	Yes
Fiat to crypto exchange	No
Pro exchange marketplace	No
Peer to peer exchange	No
Margin trading	Yes
Integrated crypto wallet	No
Futures exchange	No

Security

Know your customer	No
Credit check	No

Investment Strategy

Liquidity pools	Yes
Unsecured loans	No

Key People

Haruka Kitahashi

CEO & Founder

Useful Links

Abracadabra Contact Details