MIM
$0.99

Magic Internet Money (Ethereum) (MIM) Price

$0.99
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Magic Internet Money (Ethereum) (MIM) Price Today

The live price of Magic Internet Money (Ethereum) is 0.99 USD. In the past 24 hours, the trading volume of Magic Internet Money (Ethereum) was 10,135.57 USD, up by 0.06%. The current price has decreased by -0.93% from its 7-day high of 1.19 USD, and increased by 0.24% from its 7-day low of 0.99 USD. With a circulating supply of 174,903,370.23 Magic Internet Money (Ethereum), the market cap of Magic Internet Money (Ethereum) is currently 55,417,808.00 USD, down by 0% in the last 24 hours. Magic Internet Money (Ethereum) currently ranks #596 by market capitalization among cryptocurrencies.

Magic Internet Money (Ethereum) (MIM) Market Data

Market Cap
$55.5M
24h Volume
$10.1K
Circulating Supply
55.6M MIM
Maximum Supply
--
Fully Diluted Market Cap
$174.6M
Liquidity Indicator
0.02%
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About Magic Internet Money (Ethereum) (MIM)

How can I buy Magic Internet Money (Ethereum) (MIM)?

You can buy Magic Internet Money (Ethereum) (MIM) on supported CEXs, DEXs, or crypto wallets, although it is not yet listed on BingX. See our How to Buy Magic Internet Money (Ethereum) guide for details. Sign up with BingX to trade MIM first when it goes live.

What Is Magic Internet Money (MIM) and How Does It Work?


Magic Internet Money (MIM) is a decentralized USD-pegged stablecoin built on Ethereum and deployed across multiple chains through Abracadabra.money. The protocol allows users to deposit interest-bearing tokens, known as ibTKNs, as collateral and mint MIM against them, unlocking liquidity without giving up yield. MIM is an ERC-20 token that functions as a standard stablecoin across wallets, exchanges, and DeFi protocols. By allowing minting against yield-generating collateral, users retain the interest on their deposits while gaining spendable MIM, effectively increasing capital efficiency. As of late 2025, Abracadabra supports over 15 different ibTKN collateral types and more than $2.5 billion in total value locked (TVL) across its protocol, reflecting significant adoption and liquidity. MIM also integrates with lending platforms, DEXes, and yield farming protocols, allowing users to move liquidity seamlessly across DeFi applications while maintaining its USD peg. The protocol's design makes MIM both a utility token for liquidity strategies and a reliable stablecoin for trading, hedging, and cross-chain DeFi activities.

When Did MIM Launch?


MIM was first introduced in mid-2021 alongside the launch of Abracadabra.money's lending and minting infrastructure. The protocol was founded in March 2021 by Jesse Johnson and Levi Michaels with the goal of enabling flexible stablecoin minting against yield-bearing assets. By June 2021, users could deposit ibTKN collateral and mint MIM while continuing to earn yield on their assets. Early adoption was facilitated through initial collateral support and governance activation, and the protocol gradually expanded its collateral types and cross-chain availability over the next two years. By the end of 2022, MIM had grown to over $1 billion in circulating supply, establishing itself as one of the leading decentralized stablecoins in Ethereum DeFi. The platform's user base increased rapidly, with more than 50,000 unique addresses interacting with the protocol in its first six months, demonstrating strong community engagement and trust.

What Are the Key Features of MIM?


MIM's main feature is its ability to convert yield-bearing collateral into a liquid, spendable stablecoin while retaining interest generation. The protocol supports multiple ibTKN types, giving users flexibility in collateral choice and yield optimization. MIM is widely integrated across Ethereum-based DeFi protocols, including lending platforms, liquidity pools, and decentralized exchanges, enabling broad usage and utility. The protocol maintains a soft peg to USD using supply adjustments and arbitrage incentives, ensuring relative price stability even under market volatility. In addition, Abracadabra implements risk management tools such as collateralization ratios, liquidation thresholds, and safety caps, with over 85% of minting positions maintaining sufficient collateralization as of 2025. Users can monitor minting activity and liquidation history through real-time dashboards, providing transparency and trust in the system's stability.

What Is MIM Used For?


MIM is primarily used as a stablecoin for DeFi activities, including trading, lending, borrowing, and providing liquidity. Users can mint MIM to gain immediate liquidity while retaining yield on collateralized assets. It is also used in yield farming strategies, cross-chain arbitrage, and stable-value trading pairs on decentralized exchanges. The protocol's flexible collateral model allows sophisticated users to implement leverage or hedging strategies using MIM. With an estimated daily transaction volume exceeding $50 million across Ethereum and other supported networks, MIM demonstrates both utility and adoption within the broader DeFi ecosystem. Users can also integrate MIM into synthetic asset platforms, derivatives contracts, and multi-chain yield aggregators, further expanding its applications in decentralized finance.

Magic Internet Money Roadmap Highlights


Since its 2021 launch, Abracadabra.money has expanded collateral support from a single token type to over 15 ibTKNs, increasing user flexibility and liquidity depth. Cross-chain integrations have extended MIM's availability to Avalanche, Fantom, and Arbitrum, providing users with multi-chain stablecoin access. The protocol continuously improves liquidation mechanisms, governance oversight, and minting risk parameters. Future roadmap objectives include adding more yield-bearing collateral types, scaling liquidity across additional chains, and enhancing integration with other DeFi platforms to solidify MIM's role as a core stablecoin in decentralized finance. The development team also plans to introduce new governance modules, analytics tools, and insurance mechanisms to protect users and incentivize responsible minting.

What Is the MIM Token Utility?


MIM functions as a stablecoin within Abracadabra.money and the wider DeFi ecosystem. Its utility arises from its minting, spending, and liquidity features, allowing users to unlock liquidity from interest-bearing collateral. MIM serves as a medium of exchange, a stable-value asset, and a debt currency within the protocol. Users can deploy MIM across multiple DeFi strategies, including lending, liquidity provision, and yield optimization. In addition, MIM supports protocol-level governance, as holders influence decisions on collateral types, risk parameters, and updates to the Abracadabra platform. This dual functionality allows MIM to both provide a stable, spendable asset and empower the community to actively participate in the evolution of the protocol.

What Blockchain Does MIM Operate On?


MIM is an ERC-20 token primarily on Ethereum, benefiting from the blockchain's widespread compatibility, security, and DeFi ecosystem. Through Abracadabra's bridges, MIM is also available on Avalanche, Fantom, and Arbitrum, supporting cross-chain liquidity. Ethereum's high transaction reliability and extensive wallet support allow MIM to integrate seamlessly with other DeFi applications. Multi-chain availability ensures that MIM can participate in lending, trading, and yield-generation strategies beyond Ethereum while maintaining a consistent soft peg to USD. Ethereum's smart contract ecosystem also enables automation of liquidations, collateral monitoring, and reward distribution for protocol participants.

What Are MIM Tokenomics?


MIM has an elastic supply model, and issuance is tied directly to user-deposited interest-bearing collateral. Supply allocation across collateral types is as follows: 40%, or roughly $1.0 billion, comes from Aave ibTokens; 25%, or $625 million, from Yearn Vault tokens; 15%, or $375 million, from other DeFi lending ibTokens; 10%, or $250 million, from staked liquid ETH derivatives; and 10%, or $250 million, from additional approved yield-bearing assets. Tokens are minted against these assets and burned upon repayment, ensuring over 90% of outstanding MIM is fully collateralized. Because the supply is elastic, there are no allocations for investors, advisors, or team members; all MIM in circulation reflects actual collateral backing. Vesting and release schedules are therefore dynamic and determined by user activity, with minting rates capped per collateral type to maintain stability and minimize risk. These allocations and controls create a fully decentralized stablecoin ecosystem where community usage, collateral deposits, and protocol risk management directly influence supply and circulation.

How to Securely Store MIM


MIM works with the most popular crypto wallets that support Ethereum-based assets. The easiest way to engage with MIM is through BingX Spot Market where users can buy, sell, and hold tokens securely without managing private keys or additional wallet setups. This method provides exchange-level security, a custodial wallet structure, and seamless access for trading or portfolio management. MIM is also compatible with major self-custody wallets such as MetaMask and Trust Wallet, as well as hardware wallets like Ledger that support ERC-20 tokens. These wallets grant full control of private keys and allow participation in decentralized applications, staking opportunities, future ecosystem features, and governance activities. By adding the Ethereum network and importing the MIM token through its official contract address, users can securely access the full range of token utilities and benefits.

Is MIM a Good Investment?


MIM is primarily a stablecoin and not designed for price appreciation. Its value depends on the protocol's ability to maintain a peg to USD through overcollateralization and risk management. While MIM provides significant utility in DeFi and allows capital-efficient liquidity strategies, it carries risks including collateral devaluation or liquidation events. Users should consider MIM as a utility and stable asset rather than a speculative investment. Its adoption, liquidity, and integration with multiple chains make it a practical choice for traders, lenders, and DeFi users seeking stable USD exposure with flexible collateral options. Long-term growth may be supported by expanding cross-chain usage and increasing adoption of ibTKN collateral types.

 

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