Thread by @danielesesta

1/ So is finally time to reveal the strategy for what i call new2pool and the future of Decentralised Stablecoin liquidity. A Thread about $TERRA $UST and $MIM . A partnership Between @anchor_protocol 🤝 @MIM_Spell 👇👇

2/ Liquidity of $UST on Ethereum is currently not as large as it could be, even tho volumes on $UST curve pools on both Uniswap V3 and @CurveFinance are sizable and very relevant. This shows appetite for UST and usage of the stablecoin across more than Terra/Luna/Solana

3/ On the other hand $MIM is currently the most liquid CDP based Strablecoin on Ethereum. The synergies are inevitable, what a better pair exist for $MIM than $UST ?

4/ $UST being algo and $MIM being CDP based, together they can serve the purpose of finally enable trustless stablecoin farming. This can be a truly gamechanger for decentralisation maxis. Ability to be almost 0 exposed on Centralized stables and still earn? Incredible.

5/ How do we enable this? Today we start the voting of UST-MIM Gauge on @CurveFinance via @ConvexFinance $CVX Bribes scaling yields on the new2pool pair. $SPELL rewards will come on top boosting further the brrr.

6/ But why is this liquidity important for Abracadabra and Anchor protocol? Here comes the magic. With the recently deployed Degenbox on $ETH we can take in $UST collateral to mint $MIM that gets converted under the hood by @0xM3rlin Spells into aUST, the yield bearing asset.

7/ With our integrated engine for looping, this can bring in yields never seen in DeFi for stablecoins of this liquidity. Now how $SPELL and $LUNA benefit from this?

8/ Simple enough, thanks to this crazy yields, Abracadabra can charge a substantial interest rate capturing insane revenues for the protocol. $LUNA in that process gets burned as demand for power Stable Yields farming is massive. Win Win.

9/ This for me is the first step to move towards working with @terra_money and bring value to non-EVM ecosystems while our team works on rewriting and deploying Abracadabra on Terra.

10/