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Magic Internet Money

Magic Internet Money MIM Price $ 0.986

Rank: 620

67 Watchlists

Stablecoin

MIM Price

0.986
0.16%
(-$ 0.00162)
Price Range
LowHigh
$ 0.975$ 0.993

MIM suffered an exploit. Please be cautious and read this announcement for more information: https://twitter.com/MIM_Spell/st...

General Info

Contracts/Explorers:

Tags (Sub-Categories):

#Token

Funds and Backers

No funds found yet

Wallets

No wallets found yet

Description

Magic Internet Money (MIM) is soft-pegged to the US dollar and falls under the category of a stablecoin

Magic Internet Money (MIM) Chart

The Magic Internet Money to USD chart is designed for users to instantly see the changes that occur on the market and predicts what will come next.

MIM to USD Converter

Magic Internet Money (MIM)MIM

MIM Price Statistics

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Market Cap

$ 54.76M

FDV

$ 179.18M

ATH Market Cap

$ 4.74B

24 Trade Vol.

$ 440.87K


Vol. (24h) / MCap

0.00805

Total Supply

MIM 181,960,761

Circulating Supply

MIM 55.61M

(30.6% of Total Supply)

Listing Date

11 Oct 2021

All Time High

$ 1.54

19 Feb 2023


All Time Low

$ 0.694

30 Jan 2024


From ATH

36%

From ATL

42%

What is Magic Internet Money (MIM)?

Magic Internet Money (MIM) is soft-pegged to the US dollar and falls under the category of a stablecoin. It is part of the Abracadabra.money lending platform. The platform allows users to deposit collateral and receive MIM in return. MIM can be used in the same way as other stablecoins, and because it is multi-chain compatible it can be used across multiple blockchains and applications on their networks. This includes the Ethereum blockchain, Polygon, and Avalanche.

What are Magic Internet Money’s key features and how does it work?

MIM is minted by a multisign. Users can deposit any asset in order to borrow Magic Internet Money. Parameters can be set to adjust the amount of MIM received. This also depends on the type of collateral used. Liquidation prices are also determined according to the parameters set and determine the collateral price at which liquidation will occur.

The platform also uses the Kashi Lending Technology. This facilitates isolated lending markets which means that borrowers on the platform can customize their risk tolerance to suit the type of collateral that they use. Kashi itself is a platform that runs on BentoBox, part of the SushiSwap ecosystem where users can create custom markets that are more gas-efficient and have lower fees than traditional lending protocols.

What is noteworthy about Magic Internet Money?

The platform has three main tokens; SPELL, sSPELL, and MIM. SPELL is used to incentive and encourage network participation. It has a total supply of 210,000,000,000. sSPELL is distributed as a reward for staking SPELL tokens. It is also used for Abracadabra governance. As mentioned before, MIM is a stablecoin pegged to the US dollar.

Where can you buy MIM?

MIM is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are AscendEX, Uniswap V3, and SushiSwap. The price of MIM will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for MIM market prices, please view the price charts on this page.

Magic Internet Money Price Today

Magic Internet Money's current price is $ 0.986, it has dropped -0.16% over the past 24 hours.

Magic Internet Money's All Time High (ATH) of $ 1.54 was reached on 19 Feb 2023, and is currently -35.9% down.

The current circulating supply of Magic Internet Money is 55.61 Million tokens, and the maximum supply of MIM is unlimited.

Magic Internet Money’s 24 hour trading volume is $ 436.22 Thousands.

Magic Internet Money's current share of the entire cryptocurrency market is 0.00%, with a market capitalization of $ 54.82 Million.

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