With the recent launch of the Nibiru EVM, the ecosystem now requires an efficient stable swap mechanism — and Abracadabra’s MIMSwap is here to fill that role. MIMSwap, Abracadabra’s innovative AMM DEX, is purpose-built for the exchange of tightly pegged assets, enabling users within the Nibiru ecosystem to provide liquidity and earn yield on their stablecoins. To boost rewards even further, users can stake their MagicLP tokens, compounding their earnings on stablecoin assets. In addition to MIMSwap, Abracadabra is introducing two powerful cauldrons on Nibiru: SyrupUSDC and stNIBI, unlocking even more high-yield opportunities for DeFi users seeking sustainable and attractive returns.
At the forefront of the Nibiru ecosystem are DeFi structured products and real-world asset (RWA) applications, built around layered yield strategies. To power this, the ecosystem needs both a robust leverage protocol to drive demand and a complementary stableswap DEX to supply deep liquidity — and Abracadabra is perfectly positioned to fill this role, thanks to the strength of its yield protocol and MIMSwap.
As user preferences continue to shift toward sustainable returns over inflationary incentives, strategies that use treasuries and private credit as their foundation offer more durable, high-yield opportunities. Deploying MIMSwap alongside Abracadabra’s suite of products is a powerful move to capture liquidity in this emerging RWA market, with the backing of the Nibiru Foundation and ecosystem partners. The focus will center on providing liquidity for MIM and stable pairs (such as MIM/USDC, MIM/SyrupUSDC, and stNIBI/NIBI), prioritizing revenue generation and long-term capital growth. Unlike traditional DeFi yield strategies, which often depend on unsustainable, high-risk inflationary rewards, this approach leans into structured products that deliver real, lower-risk yield — without the pitfalls of low-liquidity pools.
Rather than relying on fleeting incentives, Nibiru will emphasize foundation and partner-driven liquidity, custom-built cauldron structures, and revenue-first strategies for Abracadabra, all aimed at driving sustainable TVL, liquidity depth, and trading volume across both ecosystems.
With over $2 million in initial liquidity from the Nibiru Foundation and support from ecosystem partners, the need for Abracadabra to independently source and incentivize additional liquidity will be significantly reduced. By focusing on strategies that deliver sustainable yield — especially through leveraged treasuries and private credit — the deployment on Nibiru is positioned to drive meaningful user growth. Even without incentives, strategy yields approaching ~36% at 5x leverage are expected to attract users organically. The Nibiru team has carefully researched and designed these strategies to ensure a profitable deployment for both Abracadabra and MIMSwap, with a focus on long-term TVL growth and profitable cauldrons that will benefit $SPELL holders.
In tandem with the deployment of MIMSwap, the Abracadabra DAO will launch two exciting native liquidity pools: the SyrupUSDC cauldron, offering up to ~36% yield and providing Nibiru users with a reliable yield opportunity, and the stNIBI cauldron, designed to complement the Nibiru ecosystem by becoming the first platform for leveraged stNIBI positions — tapping into a large, untapped user base with yields exceeding 80%.
Initially, The Abracadabra DAO will vote upon launching the following cauldrons on Nibiru (with more exciting opportunities to come!):
SyrupUSDC:
The SyrupUSDC Cauldron offers a current base yield of 12%, with an interest rate of 6% and a liquidation fee of 7.5%. By utilizing leverage, users can significantly boost their returns, with yields reaching approximately 24.5% at 2.5x leverage and up to 43% at 5.0x leverage — and when incentives are factored in, these rates can climb as high as 47.3% and 88.5%, respectively. During the initial test phase, the initially proposed cauldron top up will be 5,000,000 MIM, generating an estimated $300,000 in revenue alongside a $500,000 contribution from the Nibiru Treasury. Looking ahead, the target scale aims for a deployment of 10,000,000 MIM, which could drive around $600,000 in revenue, supported by a $1,000,000 deployment from the Nibiru Treasury. This structure sets the stage for sustainable, capital-efficient growth within the Nibiru ecosystem.
stNIBI: (Staked $NIBI token)
The stNIBI Cauldron will be designed to complement the Nibiru ecosystem by offering attractive leveraged yield opportunities on staked $NIBI tokens. With a current yield of 35.9%, a proposed interest rate of 10%, and a liquidation fee of 7.5%, it presents a compelling option for users seeking high returns. Leveraged strategies can amplify these yields even further, capitalizing on a large, untapped user base and ecosystem demand. As the first venue for leveraged stNIBI positions, this cauldron is poised to deliver yields exceeding 80%, making it one of the most lucrative stable yield strategies available in DeFi. This powerful yield potential, paired with Nibiru’s emphasis on sustainable liquidity and long-term capital efficiency, positions the stNIBI Cauldron as a cornerstone of Abracadabra’s deployment on Nibiru.
Both of these cauldrons will have proposals posted to be voted upon following the initial launch of MIMswap and the opening of MIM beaming.
The launch of MIMSwap on Nibiru marks a pivotal step toward building a sustainable and thriving DeFi ecosystem. By combining Abracadabra’s innovative stable swap technology with Nibiru’s focus on real-world asset strategies and sustainable yield generation, users gain access to deep liquidity, low-slippage trading, and powerful leveraged yield opportunities. With strong initial liquidity support from the Nibiru Foundation and high-yield cauldrons like SyrupUSDC and stNIBI, the groundwork is set for long-term capital efficiency and growth.
As MIMSwap becomes the go-to destination for stable pair swaps on Nibiru, users and liquidity providers alike can look forward to competitive returns without the reliance on short-term incentives. This is just the beginning — as the ecosystem matures, expect to see more innovative products, expanded liquidity pools, and greater opportunities for sustainable yield.
The future of DeFi on Nibiru is bright, and with Abracadabra at its core, we’re unlocking a new era of capital-efficient, high-yield opportunities. Get ready to stake, swap, and grow!