Proposal # 160: For Abracadabra to join Kava Ignition
We are excited to present a new proposal to bolster Kava Chain’s adoption, security, and decentralization through the Kava Ignition Program. Kava Ignition is a community-driven initiative designed to onboard top-tier protocols onto the Kava Chain.
Our goal is to collaborate with protocols that have demonstrated excellence in security, community engagement, and innovation. So let’s look at Abracadabra.money
Introducing Abracadabra.money
Abracadabra.money stands out as a decentralized crypto lending platform that offers users the opportunity to collateralize digital assets for stablecoin loans. What sets Abracadabra apart is its use of interest-bearing tokens (ibTKNs) as collateral. These tokens continuously generate returns, appreciating in value over time. With unique offerings like the SPELL token and magic internet money (MIM), Abracadabra distinguishes itself from other DeFi lending platforms.
Given its reputation as a renowned CDP protocol with over 6 billion in TVL, Abracadabra promises to bring immense value to the Kava Chain through its protocol, MIM token, dedicated community, and expert team.
Proposal Highlights
- Upon the launch of the MIM stablecoin and the establishment of a MIM/USDt liquidity pool on the Kava Chain, Abracadabra is set to receive 150k KAVA from the community pool. This will expedite the integration of the Abracadabra.money protocol on Kava.
- Plans are underway for Abracadabra to deploy Cauldrons on the Kava Chain for various LP tokens, enabling users to maximize their positions on related network protocols. Once these Cauldrons are successfully deployed, Abracadabra will be entitled to a minimum of 75k KAVA monthly from Kava Rise for the subsequent ten months. This initiative aims to amplify the adoption of Abracadabra.money on the Kava Chain.
Your Vote Matters!
This proposal is an exciting step forward in our mission to enhance the Kava Chain ecosystem. We invite all community members to have their say on this initiative.
