Magic Internet Money (Optimism) (MIM)

Magic Internet Money (Optimism), with ticker MIM, is a stablecoin developed by Abracadabra.money, an Omnichain DeFi lending platform. It operates by minting MIM against various forms of collateral, utilizing interest-bearing tokens. The value of MIM is pegged to the USD, aiming to maintain a consistent 1:1 ratio. The platform is deeply liquid and battle-tested, providing users with overcollateralized and secure transactions.

SPELL, the governance token of Abracadabra.money, plays a crucial role in the ecosystem. SPELL Holders can participate in key decision-making processes, influencing the platform’s direction and policies. With SPELL, users can contribute to the platform’s governance while enjoying utility benefits.

Abracadabra.money provides various products and tools, including Cauldrons, Farms, and Swap. Cauldrons are the platform’s core, offering borrowing, leveraging, and attractive yields. Users can stake SPELL, mSPELL, magicGLP, magicApe, magicLVL, and magicKLP, among other tokens, to earn rewards. The platform constantly evolves, with an active community and support for various chains.