The Ribbit #2

Revolutionary Spaces
6 min readNov 16, 2021


Welcome to the second episode of “The Ribbit”, my bi-weekly newsletter about the Frog Nation and #OccupyDeFi movement. Every two weeks I’ll use this space to update you on the latest happenings with Abracadabra, Popsicle Finance, and Wonderland.

A lot happened over the last couple of weeks so let’s get started!


$MIM perpetuals on MCDEX

Magical Internet Money is now being used as the base for MCDEX’s BTC-MIM, ETH-MIM, and SPELL-MIM perpetual futures. This is another great use case for the stablecoin and a great way to long or short these assets. Short on $SPELL? NGMI. Learn more here.

The $UST Degenbox is LIVE

Got $UST? Earn yield on it using Abracadabra’s first cross-chain degenbox strategy. This launch of the degenbox is a huge deal and cements the relationship between $MIM and $UST across chains.

The team will be introducing ways to loop for even more yield later, but you can benefit from that stablecoin yield now! The Medium article details more.

$xJOE, cvx3pool, and AVAX/USDC Collateral

The team has added $xJOE as a new collateral type. Now you can borrow against your $xJOE while still earning its staking rewards. Borrow up to 75% of your $xJOE value in $MIM to use as you’d like! Share this tweet if you can.

Have some 3CRV sitting around? A new cauldron is available with boosted Convex rewards. You can deposit cvx3pool tokens and borrow $MIM or leverage your position while still receiving Convex rewards!

The team also added their first Joe LP token cauldron. Deposit your AVAX/USDC LP on Abra and you can borrow against it, or leverage your position even further.

Wen cross-chain $Spell stake ser

The answer is NOW! Merlin recently added liquidity for sSpell-Spell on Arbitrum, Avax, and FTM. You can now trade $Spell for $sSpell and ride Merlin’s candle all the way to the top. Watch out for slippage as liquidity may be a little! Bridge on Anyswap if you’d like to move your $sSpell around.

Find a bug, crush bug, get paid

The Abra team recently announced their Immnuefi bug bounty program. Hunt for bugs and you could earn up to $100,000. You benefit and the protocol becomes more secure. Win-win.

$5 billion TVL

Another week, another major TVL achievement. The Abra team announced on November 8th that they had reached a $5 billion TVL. This means more users are finding the platform attractive for depositing their funds and borrowing against for $MIM. More TVL = more to borrow against = more fees for $Spell stakers.

$MIM3Pool on Avalanche

Don’t dilute my rewards but… with the launch of Curve’s factory on Avalanche the Abra team announced a new pool rewarded by $Spell on Avalanche. Deposit your $MIM, $USDC.e, or $USDT.e on Curve and earn $Spell now! The pool will receive 52,000,000 $Spell each week, the same as the pools on Fantom and Arbitrum. Read more on the tokenomics of $Spell here.

Great timing, given $MIM’s popularity on Avalanche.

All the analytics

Finally, the Abracadabra team launched an amazing new metrics dashboard you can view here. Since October the protocol has been generating over $2 million in fees a week on average. WOAH.

Popsicle Finance


Holy shit. It happened. Popsicle Finance relaunched and Fragolia is live. You can check out the new UI and system on Ethereum now. Future expansion to Arbitrum is coming. For now, each pool is capped for TVL, ensuring a smooth launch and allowing the team to manage the system for risk. See more about the relaunch here. Within the day the $ICE and $SPELL spots were full and new cap limits will be announced at the Popsicle Discord and on Twitter.

Why is Popsicle necessary? A majority of users have no idea how to manage their Uniswap V3 liquidity for profit.

Alpha: it looks like leveraged farming for Uniswap V2 and V3 is coming to Popsicle soon. No wonder $MIM replenishment has been rare lately…

$ICE on Trader Joe, $nICE on FTM

Got some $ICE on Avalanche? Now you can farm it at Trader Joe with AVAX for a pretty great APR of ~57%. Start farming here.

The first $nICE farm is live on Fantom and brought to you by Morpheus Swap. Now users can trade their $MIM for $nICE and receive the benefits of staked $ICE on Fantom! Check out the news here.

$ELON-ETH Pool Added

Let’s say you’re a memecoin king or queen, but you also LOVE DeFi. Popsicle has you covered with the new incentivized $ELON-ETH pool. Adding memecoin pools like this are a great way to expose users to Popsicle and help them learn about DeFi.

How’s the launch going? You tell me.

In less than 7 days the Popsicle Finance protocol generated $520k of fees, and already $120k of that has been distributed in the form of bought back $ICE to $nICE stakers. The Fragola protocol is already managing somewhere around $31 million in TVL less than two weeks after launch.

30K $ICE?

Are you not farming on Popsicle yet? There’s now even more reason to with an extra 30K in $ICE incentives for 6 farms there. Starting November 12 and for 2 weeks earn more $ICE at Popsicle: learn more here.


Protocol growth

The Wonderland protocol continues to grow on Avalanche, as does the protocol’s APY (currently around 85000%!). At the time of writing, we’re only an hour or two away from 80,000 MEMO holders. Over the last week, we’ve seen an average daily increase of 7.25% of MEMO holders. (Data here.)

$500 million treasury

The project also reached another important milestone with over $500 million in treasury assets. It’s likely that we’ll hear soon about these assets being used to fund new NFT and gaming initiatives. Daniele has some big things planned for the treasury!

Treasury assets generating yield

That amount of money isn’t just sitting there either. The Wonderland team recently announced that treasury funds are being used to generate additional yield on Fantom using the MIM2CRV pool and on Avax using Aave. More news on how this will benefit $MEMO holders is coming!

An interesting fact…

The price of one wrapped and staked OHM? ~$26.9k

The price of one wrapped $MEMO? ~$122k

Until next time!

Revolutionary Spaces is a writer, educator, avid DeFi user. You can catch him on a number of Discord servers as a community manager or at his Twitter. He’s always looking for more side hustles so feel free to reach out for community management or product management opportunities in DeFi.

Into NFTs?

Are you on Avax and looking for a fun NFT project? Avalanche Party Animals started minting on 11/13/2021 and sold out within the first four hours. The Party Animals are based on the unofficial mascot of Avalanche, Wolfie, and have a unique tokenomics. The team is on Discord here.

Got questions about the Frog Nation?

Join the Frog Nation Discord to organize with other DeFi users, get your questions answered, or start a new project. We’re always glad to help!



Revolutionary Spaces

I swear to God if you tell me to “Slurp up that dipperino!” one more time…