abracadabra mim | BTCC Knowledge

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What is Abracadabra and how does it work?

Abracadabra is a DeFi protocol allowing you to borrow stablecoins (MIM) against Interest Bearing Tokens (ibTKNS). For example, that USDC you dropped in Yearn’s USDC Vault earning you ~5%, you can borrow MIM against that position and continue earning interest while also putting MIM to work elsewhere!

What is Mim and how does it work?

Even though MIM stands for Magic Internet Money, there’s more to MIM than mere sorcery. MIM is an algorithmic stablecoin. Algorithmic stablecoins such as MIM are issued and burned from the circulating supply to keep their value pegged to the $1 mark.

How did Thelema spell Abrahadabra?

The religion of Thelema spells the word ' Abrahadabra ', and considers it the magical formula of the current Aeon. The religion's founder, Aleister Crowley, explains in his essay Gematria that he discovered the word (and his spelling) by qabalistic methods.

Who invented the word 'Abrahadabra'?

The religion's founder, Aleister Crowley, explains in his essay Gematria that he discovered the word (and his spelling) by qabalistic methods. The word 'Abrahadabra' also appears repeatedly in the 1904 invocation of Horus that led to the founding of Thelema. ( The Equinox I, no. 7. 1912)