Overview

Abracadabra.money is a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD pegged stablecoin (Magic Internet Money - MIM), that can be used as any other traditional stablecoin.

Currently, a lot of assets, such as yVaults have locked in capital that can't be put to further use. Abracadabra offers an opportunity to use it.

For more info visit - https://docs.abracadabra.money/

The article below highlights how UST interacts with the Abracadabra Platform

https://medium.com/abracadabra-money/our-ust-strategy-the-first-application-of-the-magic-potentialities-of-degenbox-ea35f13d6b5e

Analysis

The charts below highlight two key metrics -

1. Daily Transaction Volume on Abracadabra for UST
2. The Amount of UST Inflow and Outflow through Abracadabra

Insights

1. The daily transaction count has been growing in the past 30 days (Chart 1)
2. More transactions = more UST that is inflowing and outflowing through the ETH ecosystem. This presents a great opportunity for the Terra Ecosystem since it allows ETH ecosystem users to benefit from the Anchor Protocol. Hence, expanding the userbase of the Terra Ecosystem.