My understanding of DEFI 2.0 [SPELL/MIM/ICE/POPSICLE FINANCE/LP Tokens/ABRACADABRA]

What’s the hype around SPELL/MIM/ICE? How does it work? Here I try to explain how I understand it.

[Note: I’m a crypto intermediate. A lot can be incorrect, but hopefully it’s somewhat simplified.]

My Twitter: https://twitter.com/Prof_Crypto_B

Daniele – DEFI 2.0 and the power of bridging ecosystems [SPELL/MIM/ICE]: https://twitter.com/danielesesta

Abracadabra Money Website [MIM/SPELL]: https://abracadabra.money/
Abracadabra Money Twitter: @MIM_Spell

Popsicle Finance Twitter: https://twitter.com/PopsicleFinance

Curve Finance Twitter: https://twitter.com/CurveFinance

AnySwap Twitter: https://twitter.com/AnyswapNetwork

SpiritSwap Twitter [DEX] – https://twitter.com/Spirit_Swap

TIMESTAMPS:
0:00 – Intro
0:23 – Disclaimer
0:49 – Workflow Diagram
1:27 – Defi 2.0 – DanieleSesta
2:03 – Overview [of the overview]
3:45 – Start With Tokens/Fiat
4:25 – Provide LP Tokens as collateral & Borrow Against [SPELL/MIM]
5:25 – MIM [Stablecoin] = Magic Internet Money
5:45 – Anyswap – Bridge your MIM to a different blockchain.
6:30 – Sell/Swap MIM, buy what you want, repeat :).
6:43 – Can’t do this infinitely, so what’s the end case?
7:15 – Popsicle Finance [Yield Optimizing Across All Blockchains]
9:20 – Why DEFI 2.0 is big.
10:20 – Curve is important to whales. Allows to swap Stablecoins cheaply.
11:50 – Real Life Example of the important of lots of traffic, low fees, and low slippage.
12:50 – Recap/Summary
14:28 – Risks/Unknowns
15:30 – Some things are not implemented yet, but it is being developed quickly.
16:03 – Concludy Time

DISCLAIMER:
I AM NOT A FINANCIAL ADVISOR AND I AM NOT PROVIDING FINANCIAL ADVICE. EVERYTHING IN THIS VIDEO (AND DESCRIPTION) IS PURELY MY OPINION AND BASED OFF SPECULATION. I AM NOT A CRYPTO EXPERT BY ANY MEANS. MY STATEMENTS/RESEARCH/UNDERSTANDING MAY BE INCORRECT/INCOMPLETE, WHICH MAKES IT EVEN MORE IMPORTANT TO ALWAYS DO YOUR OWN RESEARCH!!!