Thread by @revol_space

The @_FrogRadio interview with @danielesesta is live. Come hear about @MIM_Spell, the latest $MIM replenishment, the roadmap for scaling, and more!

https://twitter.com/CryptoMessiah/status/1461409197594140672

@_FrogRadio @danielesesta @MIM_Spell @danielesesta is starting strong and spicy:

- No other project has emitted $3 billion in stablecoin emissions in the first month
- No other project is making this much money each week
- @MIM_Spell isn't like other projects

Don't follow the trend. This is long-term shit.

@_FrogRadio @danielesesta @MIM_Spell @MIM_Spell is the first CDP stablecoin that has lead the pack without a Peg Stability Module. The liquidations are working perfectly and $MIM maintains the peg super well.

$MIM is the number one stablecoin in liquidity across all four chains.

@_FrogRadio @danielesesta @MIM_Spell A PSM is a smart contract that allows you to swap a stablecoin 1:1 with another. But what this module does is centralize $MIM.

$DAI has been a great example: backed mostly by $USDC and still minting like crazy to pump up what they do.

@_FrogRadio @danielesesta @MIM_Spell Not needing a PSM is AMAZING. $3.1 billion in liquidity and $MIM is being used everywhere:

dashboard.abracadabra.money to learn more and watch for updates there.

@_FrogRadio @danielesesta @MIM_Spell This type of open information is huge for helping @MIM_Spell to make decisions that are informed.

It's only part of the tools for the full decentralization of Abracadabra.money

@_FrogRadio @danielesesta @MIM_Spell $MIM is the number one traded coin on @arbitrum. The number one stablecoin on @traderjoe_xyz. It's one of the easiest and the cheapest stablecoins to bridge: abracadabra.money/bridge

@_FrogRadio @danielesesta @MIM_Spell @arbitrum @traderjoe_xyz The UI for @MIM_Spell is a hugely important part of the project.

A UI update will be incoming soon to make leverage/looping far easier to understand and start. The focus will be on downside percentage and making it super easy to maximize loops. #OccupyDeFi

@_FrogRadio @danielesesta @MIM_Spell @arbitrum @traderjoe_xyz The @MIM_Spell team has been working with @terra_money to make sure the UST-MIM strategy is working well and safely.

Bridges will be improved, faster claims are coming, and more partners are coming.

The future of stableswaps must be $MIM / $UST - one CDP based and one algo.

The pairing is perfect on a two-pool (coming to @avalancheavax) that is very efficient, and balances the peg (one is great on the downside, one is great on the upside of market).

The team expects $100 million in liquidity adds a day soon.

@avalancheavax Cross-chain swaps are going to be huge using $MIM.

Once stablecoin liquidity maximization is reached on side-chains the team will boost the native DEXs for native pairs. Goal: make $MIM the base of as many native assets as possible.

Why? Ensure that slippage is incredibly low for cross-chain swapping and sending funds. $MIM will be the cross-chain bridge of DeFi.

This will allow users on ETH to buy Joe across the chain, and even buy some gas on @avalancheavax at the same time.

@MIM_Spell will dominate.

@avalancheavax @MIM_Spell @MIM_Spell doesn't need any network to win in particular. They will be everywhere and let the market, which they're capturing the value of, decide.

@avalancheavax @MIM_Spell "You can't beat the central bank. We are the central bank. Fuck the suits." - @danielesesta

@avalancheavax @MIM_Spell @danielesesta What are the plans for BSC and Solana?

The @MIM_Spell team and @squirrelcrypto is working with @AnyswapNetwork and @renprotocol to get $MIM across chains.

Everything needed is being written to get there.

@avalancheavax @MIM_Spell @danielesesta @squirrelcrypto @AnyswapNetwork @renprotocol @MIM_Spell will be heading to @BinanceChain tomorrow!

$cake as collateral.
@PancakeSwap leveraged farming.

LET'S GOOOOO!

@avalancheavax @MIM_Spell @danielesesta @squirrelcrypto @AnyswapNetwork @renprotocol @BinanceChain @PancakeSwap How does @MIM_Spell handle @MIM_Replenishes?

- The team assesses each week
- They want to move towards more automation

@avalancheavax @MIM_Spell @danielesesta @squirrelcrypto @AnyswapNetwork @renprotocol @BinanceChain @PancakeSwap @MIM_Replenishes Fucking technical questions on this AMA are killing me.

"How do you spell @GeorgiyXo?"

"Why is my Yearn USDC collateral not updating...?"

"Where do the $sSpell fees come from?"

@danielesesta on the plans for adding collateral types, and the philosophy on that.

1. We want them to be yield-bearing typically
2. A forum is being made to suggest new collateral then vote on using @SnapshotLabs
3. The focus is on @chainlink priced collateral especially

@danielesesta @SnapshotLabs @chainlink Will there be more exotic types of collateral that don't have a chainlink oracle? The team is open and has done so working with @CurveFinance in the past.

What's going to happen for @MIM_Spell in 2022?

Focus is on expansion for non-EVM chains: set the trend on @solana, @cosmos, and @terra_money

@MIM_Spell @solana @cosmos @terra_money What does @danielesesta think about regulation and what will happen if KYC comes?

The team will focus on being fully decentralized in next 4-6 months.

@MIM_Spell @solana @cosmos @terra_money @danielesesta What happens to @MIM_Spell in a bear market?

- $MIM does well in the downside due to liquidations where it is being pulled off the market. It's profitable if $MIM is under $1 to pay off loans.
- UST tends to depeg on upside though, so a good pairing there will help $MIM.

Alpha: A memecoin will start up for @MIM_Spell on @solana to bring attention to the protocol and start a strong community there.

@MIM_Spell @solana Alpha: @PopsicleFinance and @MIM_Spell will both benefit from the strong cross-chain swaps. @MIM_Spell will provide the $MIM functionality and bridging , @PopsicleFinance will manage the LPs.

@MIM_Spell @solana @PopsicleFinance Alpha: @MIM_Spell will be moving into the Forex domain to use leverage and brrrrrrr.

@MIM_Spell @solana @PopsicleFinance How does @MIM_Spell make sure the liquidations are fully decentralized?

- 50% of liquidations are not from team
- The key is working with fully decentralized DEXs like @CurveFinance and coins like $UST
- Liquidations may move partially OTC as well

@MIM_Spell @solana @PopsicleFinance @CurveFinance How to increase liquidity?

- Go to native assets and rewards from those farms
- Keep using the $Spell bribes
- Use $CRV / $CVX cauldrons to vote (and allow borrowers get loan for free)

@MIM_Spell @solana @PopsicleFinance @CurveFinance Thank you to @danielesesta and the team at @_FrogRadio for hosting that AMA on @MIM_Spell. I need to drop but look forward to the recording!