MIM is only available to hold

This asset is currently unavailable to trade on Gemini. You can hold MIM and transfer it with a compatible external wallet.

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-$0.0020296988 (-0.20%)

Past year

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About Magic Internet Money (MIM)

MIM is a USD soft-pegged stablecoin minted by the Abracadabra.money decentralized platform. Abracadabra uses interest-bearing tokens as collateral to mint MIM. Interest-bearing tokens able to be used as of February 2022 as collateral include liquidity provider (LP) tokens from Convex, Curve, Yearn, among others. The loan liquidation process on Abracadabra differs from other stablecoin/lending protocols like MakerDAO, in that each collateralized debt position (CDP) and its liquidation price is unique. Should the liquidation price for any specific CDP be crossed, a liquidator can purhcase the position by paying off the outstanding MIM.

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Magic Internet Money Cryptopedia articles

Magic Internet Money (MIM)- A Yield-Bearing Stablecoin (Cryptocurrencies)

Magic Internet Money (MIM): A Yield-Bearing Stablecoin

Cryptopedia Staff5 min read

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Magic Internet Money links and resources

Abracadabra website


Abracadabra technical documentation


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