Overcollateralized borrowers deposit funds into Abracadabra and receive MIM stablecoin.

Abracadabra is a non-custodial stablecoin protocol built on Ethereum and other adjacent blockchains. Abracadabra was founded by Daniele Sestagalli and launched in 2021.

SPELL tokenholders own and govern the protocol. They currently take all of the interest and borrow fees paid by borrowers (revenue).

governance

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Stablecoin issuers

Abracadabra.money

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Abracadabra.money - Financial statement