Abracadabra Degen Box needs to be banned

[narco78]

@BoogieNights

There is no difference in Abra or any other protocol leveraging a yield bearing asset like aUST for a stable and cycling. These aren’t predatory methods, they’re a legitimate utilisation of asset leverage.

You are correct. These were not predatory methods as the funneling of 100’s of millions of UST into the degenbox was an Abracadabra - TFL sponsored partnership.

Anchor Earn vs Borrow. growing chasm

Hey all, just joined because I believe there is another point to all of this that a lot of people dont seem to be seeing. The Abracadabra UST leverage farm is a very convenient way for Terralabs to liquidate hundreds of millions of UST without hurting the peg a lot and they have a direct incentive to keep that one going for as long as possible. How are they doing it? Happy that you asked. Back in September Terralabs announced “Project Dawn” to help cover operating costs by releasing 3 milli…