What is MagicGLP?

magicGLP is Abracadabra’s auto-compounder for GLP tokens, where ETH yield produced by GLP farming is automatically auto-compounded back into magicGLP. With magicGLP, the ETH yield generated from GLP farming is automatically reinvested into magicGLP, which helps you maximise your returns. Like other vault tokens, over time, the value of magicGLP will increase due to the auto-compound, causing the magicGLP:GLP ratio to rise.