Magic Internet Money (Arbitrum) (MIM)

Magic Internet Money (Arbitrum), with ticker MIM, is a stablecoin operating on an omnichain DeFi lending platform called Abracadabra.money. MIM is minted against various forms of collateral, specifically interest-bearing tokens. The platform aims to maintain a consistent 1:1 ratio with the USD, ensuring stability in MIM’s value.

The ecosystem also includes a governance token called SPELL, which plays a vital role in the Abracadabra.money platform. SPELL holders can participate in key decision-making processes influencing the platform’s direction and policies.

Abracadabra.money offers a range of products, including Cauldrons, which serve as the platform’s core. Users can borrow, leverage, and access high yields on the market. Additionally, the platform provides various tools, such as swap and beam, allowing users to interact with the ecosystem seamlessly. With its omnichain functionality, Magic Internet Money (Arbitrum) offers deep liquidity and battle-tested performance.