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55683633 No.55683633 [Reply] [Original]

redpill me on abracadabra. is it good or should i put my money somewhere else?

>> No.55683651

Never used it. I'll stick to using uniswap instead

>> No.55683656

Don't bother just use Curve.

>> No.55683662
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55683662

>>55683633
put in collateral and you get paid in $MIM (a stablecoin) which you can stake or retrieve for another stablecoin. $MIM usually depegs and it's not good overall.

>> No.55683673

>>55683656
>>55683662
Not to mention the shitty daily volume. Not many people use it anymore. It used to be fairly popular but it has seriously lost a lot of market share.

>> No.55683691

>>55683662
Why would you want to risk your money with a stablecoin that isn't really that stable to begin with is it just because they offer high apys?

>> No.55683694
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55683694

>>55683633
You get stablecoin for providing collateral (Kava, Avax, Sushi...)

I like how diverse it is you can pretty much use anything as collateral.

>> No.55683700

>>55683673
alright genius where should we migrate to, then? please enlighten us

>> No.55683712

>>55683691
beats me, though if i had to take a guess i'd say this
>>55683694
is the reason. they have a lot of shit you can use to stake and people have preferences. curve is not perfect by any means even though i shill it for free.

>> No.55683713

>>55683694
>deposit a volatile asset as collateral and get a stablecoin in return
what pool do you recommend

>> No.55683718

>>55683700
Maybe it's best to simply stake directly in the website for whatever alt interests you. More likely than not they'll have the option to do it right there natively.

>> No.55683720

>>55683700
sushiswap/pancakeswap.

>> No.55683730

>>55683712
So they let you deposit all kinds of different assets and that's it? Is that all the appeal?

>> No.55683732
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55683732

>>55683713
I mentioned Kava and I'd recommend that. It's relatively new to Abracadabra but it's pretty good.

>> No.55683735

>>55683673
It spikes once people redeem, idiot.
>>55683720
Very low tvl not worth it. These are mostly deprecated.

>> No.55683736

>>55683720
Never thought I'd see someone mentioning pancakeswap unironically. And yet here we are

>> No.55683739

>>55683713
Eth all the way.

>> No.55683741
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55683741

>>55683732
I need to know how likely it is for me to get rugged if I do decide to trust my hard earned coins into this platform

>> No.55683750

>>55683633
if it gets shilled here you shouldn't be using it. period

>> No.55683751

>>55683739
Does it offer a decent apy or nah

>> No.55683758

>>55683633
>low liquidity

>> No.55683759

>>55683662
>>55683712
Weird favoritism. Both platforms have always worked together.

>> No.55683766

>>55683736
BNBchads just keep on winning

>> No.55683768

>>55683633
>abracadabra
Good platform for staking and getting passive yield.
>Put my money elsewhere?
No. Do $KAVA using it. It's good.

Everyone else itt is wrong.

>> No.55683772

>>55683741
My nigga this is one of the OG platforms at what it does. Nothing will happen. They run on LayerZero infra so not even the recent multichain hack could affect them, they know what they are doing.

>> No.55683775

>>55683735
both are still better lmao

>> No.55683786

>>55683736
what's wrong with it?

>> No.55683796
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55683796

>>55683694
>>55683768
Based, one of the better additions to MIM in recent memory.

>> No.55683814

>>55683736
Well, everyone actually have to earn their daily penny.

>> No.55683821

>>55683751
Not really, not anymore ETH happens to be a low risk, low gain... that can't be called decent.

>> No.55683823

>>55683633
its ok. they did get fukt on lunc

>> No.55683832

>>55683772
Kava is actually the answer of that multy chain hack, so yeah those guys are well prepared for what's yet to cum

>> No.55683840
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55683840

>>55683633
The fuck does Abracadabra even is?

>> No.55684267

>>55683633
Used to love the idea of it back when i held ftm, being able to put my ftm in a yearn vault and earn yield while using the receipt token as collateral to borrow mim, however it is probably the stable i trust the least and wouldnt be surprised if it shits the bed

>> No.55684276

>>55683656
this is the real redpill btw. curve is already the top lending platform despite getting in to it like 2 months ago or less

>> No.55685278

>>55683840
>does
>is
hello ESL xrp holder

>> No.55686700

>>55683633
RWA projects like RIO, LEOX, and NXRA would be good

>> No.55686909

>>55683751
The more the APY, the more the risk

>> No.55687027

>>55686700
I can see that you are mainly considering RWA. It's a good narrative btw

>> No.55687173

>>55683751
APY seems to attract many Anon, but are there sustainable? Been earning 40% from sylo-wbtc LM pool for a long while now and have been sustained. It's better to stay with something low abs stable than ones that can not be sustained.