Equity Overview
Price & Market Data
Price: $0.901
Daily Change: +$0.0048 / 0.53%
Daily Range: $0.895 - $0.901
Market Cap: $157,553,942
Daily Volume: 3,801
Details
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.