Magic Internet Money (Moonriver) (MIM)

Magic Internet Money (Moonriver) (MIM) is a USD-denominated stablecoin minted on the Abracadabra.money platform. This Omnichain DeFi lending platform uses interest-bearing tokens as collateral to mint MIM. MIM operates as a stablecoin, aiming to maintain a consistent 1:1 ratio with the USD. The stability of MIM is achieved through its backing by interest-bearing tokens.

The platform also features SPELL, an integral part of the ecosystem, and serves as a utility and governance token. SPELL Holders can participate in key decision-making processes, enabling them to influence the direction and policies of the Abracadabra.money platform.

Abracadabra.money offers various products and tools to its users, including Cauldrons, farms, stakes, swaps, and more. The platform is deeply liquid, overcollateralized, and battle-tested. With its unique features and focus on stablecoin minting, MIM provides users with a reliable and innovative solution in decentralized finance.