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Magic Internet Money
$0.9455
0.06%
Open
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Magic Internet Money Information
Magic Internet Money Supported Platforms
| MIM | ERC20 | ETH | 0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3 | 2021-05-27 |
About Magic Internet Money
Magic Internet Money (MIM) is a stablecoin soft-pegged to the US dollar, created by Daniele Sestagalli in 2021. It is minted by the Abracadabra.money protocol and backed by interest-bearing tokens. MIM can be borrowed against collateral on the Abracadabra platform and allows fast and secure cross-chain transfers through Beaming. Its value is maintained through arbitrage, keeping it close to 1 USD. MIM serves as a stable digital currency for various financial activities on the blockchain.
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.
Magic Internet Money was founded by Daniele Sestagalli and launched in 2021. It operates on Ethereum and other adjacent blockchains.
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.