The Abracadabra DAO is proud to announce the launch of our latest suite of products focused on the GMX V2 Ecosystem: the gmCauldrons! The gmCauldrons are an easy to use tool that allows users to loop the gmAssets yield.

Welcome the gmCauldron Era

Before starting, make sure to educate yourself properly on how GMX V2 works, and how its liquidity system is designed here.

Following the successful passing of SAIP #34, the DAO is now ready to open the gates to the gmCauldrons, one of the most innovative and efficient products ever produced by Abracadabra Money.Thanks to the gmCauldrons, users are now able to loop the base yield produced by 4 different types of gmAssets:

• gmARB

• gmETH

• gmBTC

• gmSOL

gmLINK is already been proposed to the community and currently in the voting stage here.

New gmAssets will be added over time following DAO votes. If you want to list a particular asset, make sure to submit a DAO proposal for SPELL holders to vote upon here!

Use the gmCauldrons!

The gmCauldrons have finished their beta-testing phase and are ready to be used natively on Arbitrum. An initial top up of 1m $MIM per market has been executed on Wednesday, with a following 1m each to be pushed today .

Enjoying triple digits APR on your favourite assets is simple and intuitive, just grab the amount of gmAssets you are interested in farming, and loop it directly on Abracadabra money, thanks to the $MIM leverage engine!You can find a detailed guide on how to use the gmCauldrons in our user documentation.

A big thanks goes to the GMX team who contributed with feedback and recommendations to this design, and the auditor over at Guardian.

STIP Rewards

Thanks to the gmCauldrons design, users can enjoy leveraged loop yield on both base and STIP boosted rewards for gmAssets. A degenbox strategy will soon be activated that will autocompound the GMX’s ARB rewards distributed into the users position into more gmTokens. Users' balances will grow accordingly.Note: A 10% fee will be charged on the ARB rewards and treated as protocol revenue!

In a matter of weeks and depending on usage, Abracadabra’s STIP rewards will also be used to boost users' yield that are utilizing the gmCauldrons. Get ready by opening a position in any of the new markets!The gmCauldrons are a statement to the faith and dedication that the DAO poses in the Arbitrum Ecosystem. We are excited to move the space this forward with Partner Protocols and Users Alike!