CTX Partnership with abracadabra SPELL and Olympus Pro

The goal here is to increase the visibility of cryptex and bring more compatibility to cryptex ecosystem. Many people were skeptical at the beginning of abracadabra; now, it is a most successful and growing project in Defi 2.0 narrative where everyone wants to join.

SPELL is a governance token for https://abracadabra.money/ and MIM is the stable issued by lending its platform assets. Today SPELL generates twice the weekly fees of MakerDAO, and it has a presence on most chains. Partnering adds value on both ends CTX has to be a strong asset with sufficient liquidity to support it by https://abracadabra.money/ to mint stable coin MIM on their platform. Bring more MIM into existence by adding CTX and TCAP to their platform and increase utility for MIM3CRV ( mim+3 Crv deposited on curve) by using it as collateral in cryptex.

Now Olympus comes in to picture to make CTX stable in the market . Olympus Pro platform allows protocols to take control of their LP shares by rewarding discounted tokens. There will be market fluctuations for a couple of weeks where discounted CTX enters the market, but in the end protocol gains majority of lp shares which stabilizes the price.

Composability looks like this:

abracadabra.money : lend ctx → borrow mim → deposit in mim3crv pool (yield generating asset)-> use it to mint tcap–> self pay tcap loan


So we need:

  • Lend CTX and borrow MIM. CTX Chainlink Oracle (In progress)
  • Use mim3crv pool to mint TCAP. We need a mim3crv pool / USD oracle (Unknown).
  • Self pay tcap loan. Vauts upgrade (Planned).

there is already oracle for spell and MIM I couldn’t find one for mim3crv

Then we can add MIM and Spell as collateral for minting TCAP. Is there any protocol where we can deposit MIM?

there are many Curve.fi curve has 2.2 billion liquidity