What is Magic Internet Money (MIM)?

Magic Internet Money (MIM) is a stablecoin soft-pegged to the US dollar, minted by the Abracadabra.money protocol. It is backed by interest-bearing tokens and designed to remain close to the value of 1 USD.

Who created Magic Internet Money (MIM)?

Magic Internet Money was founded by Daniele Sestagalli and launched in 2021. It operates on Ethereum and other adjacent blockchains.

What is $MIM used for?

MIM is used as a stablecoin and can be borrowed against various forms of collateral on the Abracadabra.money platform. It facilitates fast and secure cross-chain transfers through the innovative Beaming feature, powered by the LayerZero Omnichain Fungible Token (OFT) standard. MIM's value is maintained through arbitrage, allowing users to buy or sell MIM to keep its price close to 1 USD.

Magic Internet Money (MIM) Markets

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#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	MIM-USDT MIMUSDT	ascendex	D	0.1038USDT	0.00%	0MIM	0	0.1038USDT	0.1038USDT