Magic Internet Money (MIM)

Magic Internet Money (MIM) is a stablecoin that is referencing (pegged to) the U.S. dollar. MIM is classified as a decentralized stablecoin, backed by yield-bearing crypto assets.

Magic Internet Money (MIM)

Magic Internet Money (MIM) is a stablecoin that is referencing (pegged to) the U.S. dollar. MIM is classified as a decentralized stablecoin, backed by yield-bearing crypto assets.

DeFi - Jul 07, 2023 MIM Devs Propose Protecting DeFi Lending Platform Using Centralization

The developers of the Abracadabra platform, home of the Magic Internet Money (MIM) and SPELL tokens, have put forward a proposal for a centralized legal entity to take over certain management functions.

Stablecoins - Jun 27, 2022 The Decline of Magic Internet Money and the Exposure of Insiders

The stable coin of the Abracadabra ecosystem has lost its peg to the dollar. The cancellation of the Magic Internet Money (MIM) binding occurred on Friday, at 7:40 pm Eastern time. Eventually, the price of the token collapsed to $0.926 in three hours.

$6.5M Abracadabra Exploit Led to Magic Internet Money Stablecoin Depeg MIM

Hacks - Feb 01, 2024 $6.5M Abracadabra Exploit Led to Magic Internet Money Stablecoin Depeg

The network was exploited via a rounding bug. The stablecoin fell to all-time low but is already on the way to recovering its peg to the U.S. dollar.

by Sasha Markevich

Other Tags

.Swoosh 2 Articles

Latest Articles 3 Articles

Hacks - Feb 01, 2024 $6.5M Abracadabra Exploit Led to Magic Internet Money Stablecoin Depeg

The network was exploited via a rounding bug. The stablecoin fell to all-time low but is already on the way to recovering its peg to the U.S. dollar.

by Sasha Markevich

DeFi - Jul 07, 2023 MIM Devs Propose Protecting DeFi Lending Platform Using Centralization

by Jack Martin

Stablecoins - Jun 27, 2022 The Decline of Magic Internet Money and the Exposure of Insiders

by Alex Harutunian

Other Tags View All

.Swoosh 2 Articles