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MIM

MIM

MIM is a USD soft-pegged stablecoin minted by the Abracadabra.money decentralized platform.

OverviewStructured DataIssuesContributors

Contents

abracadabra.money
Is a
Cryptocurrency
Cryptocurrency

Cryptocurrency attributes

Industry
Decentralized Finance
Decentralized Finance
Blockchain
Blockchain
Smart contract
Smart contract
Blockchain and cryptocurrency
Blockchain and cryptocurrency
Cryptocurrency
Cryptocurrency
Ticker Symbol
MIM
Block Explorer URL
snowtrace.io/address/...nsactions
bscscan.com/address/0...a319f433ba
ftmscan.com/token/0x8...834b6829c1
arbiscan.io/token/0xf...77a57d6c2a
etherscan.io/address/...Dff1e17F3
Also Known As
Magic Internet Money
The Frog Nation

Other attributes

Blog
abracadabramoney.medium.com
Circulating Supply
1,933,352,207
CoinGecko ID
magic-internet-money0
Community Forum
forum.abracadabra.money
Company Operating Status
Active
Competitors
Origin Dollar
Origin Dollar
Pax Dollar
Pax Dollar
Fei Protocol
Fei Protocol
Liquity USD
Liquity USD
TrueUSD
TrueUSD
Frax Finance
Frax Finance
Contact Page URL
moonriver.moonscan.io/toke...e3adb
ftmscan.com/token/0x8...834b6829c1
finder.terra.money/mainn...8wpf2y
etherscan.io/token/0x...dff1e17f3
snowtrace.io/token/0x...e8cb8C18D
solscan.io/account/H...do2FQ5XUe1
bscscan.com/token/0xf...a319f433ba
arbiscan.io/token/0xf...77a57d6c2a
Cryptocurrency Symbol
MIM
Founder
Daniele Sestagalli
Daniele Sestagalli
Public/Private
Public
Exchange
SpookySwap
SpookySwap
Trader Joe
Trader Joe
SushiSwap
SushiSwap
AscendEX
AscendEX
Pangolin
Pangolin
PancakeSwap
PancakeSwap
Curve (DeFi Asset Management Company)
Curve (DeFi Asset Management Company)
Solidly
Solidly
...
Stock Symbol
MIM
Token Standard
BEP-20
ERC-20
Total Supply
1,933,352,207
Written in
Solidity

Abracadabra uses interest-bearing tokens as collateral to mint MIM. Interest-bearing tokens that can currently be used as collateral include liquidity provider (LP) tokens from Convex, Curve, Yearn, among others. Loan liquidations in Abracadabra differ from other stablecoin/lending protocols like MakerDAO, such that each collateralized debt position (CDP) is unique and has its own liquidation price. When the liquidation price for an individual CDP is crossed, a liquid

Tokenator can buy the position by paying off any outstanding MIM.

Token

MIM is an ERC-20 token that is soft-pegged to USD. MIM remains pegged via arbitrage incentives within the Abracadabra ecosystem. When MIM is trading below USD1.00, arbitrageurs are incentivized to buy MIM at a discounted price, and potentially pay off some of their debt at a cheaper price than if MIM were USD1.00. If MIM is trading above USD1.00, arbitrageurs are incentivized to borrow more MIM and sell it at a premium.

Timeline

No Timeline data yet.

Further Resources

Title
Author
Link
Type
Date

Introduction - Abracadabra

https://docs.abracadabra.money/

Web

References

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