# CTX Partnership with abracadabra SPELL and Olympus Pro

**URL:** <https://forum.cryptex.finance/t/ctx-partnership-with-abracadabra-spell-and-olympus-pro/201>\
**Category:** Ideas\
**Created:** [October 24, 2021, 12:50am UTC](https://forum.cryptex.finance/t/ctx-partnership-with-abracadabra-spell-and-olympus-pro/201 "2021-10-24T00:50:34Z")\
**Posts on this page:** 5\
**Page:** 1

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**Author:** ![nikhil](https://yyz2.discourse-cdn.com/flex028/user_avatar/forum.cryptex.finance/nikhil/32/58_2.png) [@nikhil](https://forum.cryptex.finance/u/nikhil)\
**Post date:** [October 24, 2021, 12:50am UTC](https://forum.cryptex.finance/t/ctx-partnership-with-abracadabra-spell-and-olympus-pro/201/1 "2021-10-24T00:50:34Z")

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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/](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/](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

> **[Spell Token price, SPELL chart, market cap, and info | CoinGecko](https://www.coingecko.com/en/coins/spell-token)**
>
> Get Spell Token price, SPELL chart, trading volume, market cap, exchanges and more.

> **[Magic Internet Money price, MIM chart, market cap, and info | CoinGecko](https://www.coingecko.com/en/coins/magic-internet-money)**
>
> Get Magic Internet Money price, MIM chart, trading volume, market cap, exchanges and more.

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**Author:** ![Crisgarner](https://yyz2.discourse-cdn.com/flex028/user_avatar/forum.cryptex.finance/crisgarner/32/3_2.png) [@Crisgarner](https://forum.cryptex.finance/u/Crisgarner)\
**Post date:** [October 25, 2021, 9:52pm UTC](https://forum.cryptex.finance/t/ctx-partnership-with-abracadabra-spell-and-olympus-pro/201/2 "2021-10-25T21:52:53Z")

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> [@nikhil](#):
>
> 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).

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**Author:** ![nikhil](https://yyz2.discourse-cdn.com/flex028/user_avatar/forum.cryptex.finance/nikhil/32/58_2.png) [@nikhil](https://forum.cryptex.finance/u/nikhil)\
**Post date:** [October 27, 2021, 9:08pm UTC](https://forum.cryptex.finance/t/ctx-partnership-with-abracadabra-spell-and-olympus-pro/201/3 "2021-10-27T21:08:42Z")

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

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**Author:** ![Crisgarner](https://yyz2.discourse-cdn.com/flex028/user_avatar/forum.cryptex.finance/crisgarner/32/3_2.png) [@Crisgarner](https://forum.cryptex.finance/u/Crisgarner)\
**Post date:** [October 27, 2021, 9:53pm UTC](https://forum.cryptex.finance/t/ctx-partnership-with-abracadabra-spell-and-olympus-pro/201/4 "2021-10-27T21:53:28Z")

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

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**Author:** ![nikhil](https://yyz2.discourse-cdn.com/flex028/user_avatar/forum.cryptex.finance/nikhil/32/58_2.png) [@nikhil](https://forum.cryptex.finance/u/nikhil)\
**Post date:** [October 27, 2021, 10:25pm UTC](https://forum.cryptex.finance/t/ctx-partnership-with-abracadabra-spell-and-olympus-pro/201/5 "2021-10-27T22:25:10Z")

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there are many [Curve.fi](https://curve.fi/mim/deposit) curve has 2.2 billion liquidity