Abracadabra Integration in ZooDAO: Enhancing Yield through MagicGLP

The Collaboration with Abracadabra

ZooDAO has strategically integrated with Abracadabra; it is a leverage and lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow the omnistablecoin MIM. This integration heralds a new avenue for yield optimization within the ZooDAO ecosystem.

Utilizing MagicGLP for Auto-compounding

At the core of this collaboration is the utilization of MagicGLP (mGLP). By leveraging mGLP, ZooDAO taps into the auto-compounding features of GLP yields on the GMX platform. This integration is a game-changer, as it allows the ZooDAO community to access enhanced yield generation methods.

Benefits to ZooDAO's Community

The use of MagicGLP within ZooDAO brings several advantages to its users:
  1. 1.
    Higher Yield Generation: Thanks to the auto-compounding mechanism of mGLP, users can enjoy increased yield potential.
  2. 2.
    Simplified Yield Farming: The integration streamlines the yield farming process, making it more accessible and efficient for community members.
  3. 3.
    Enhanced Platform Value: Incorporating Abracadabra's magicGLP adds an extra layer of value to the ZooDAO platform, attracting more users and investors.

Conclusion: A Magical Boost to ZooDAO's Ecosystem

The integration with Abracadabra marks a significant enhancement for ZooDAO, especially in terms of yield optimization. By harnessing the power of mGLP, ZooDAO not only boosts its yield generation capacity but also strengthens its position as an innovative player in the DeFi arena.
Last modified 2mo ago