Magic Internet Money mim

Magic Internet Money price today is INR 82.282 and the trading volume in 24 hour is INR 1,959,708. Price change in the MIM price in the last 24 hour is -0.294 . It has a circulating supply of 55,611,860.749 coins and a total supply of 181,999,311.2. Total market cap of the MIM is INR 4,621,248,843.021 which has the movement of -0.096 in the last 24 hours

MIM is a USD pegged stablecoin created by Abracadabra.money, a lending/borrowing protocol. A stablecoin is a cryptocurrency whose value is pegged to another fiat currency like the US Dollar. Abracadabra uses interest-bearing tokens as collateral to create/mint MIM. MIM is in the top 10 stablecoins by Market Cap(as of March 2022

Abracadabra is the Decentralized Application or Dapp behind MIM. It mainly consists of anonymous members, including Daniele Sesta, who is the founder of Popsicle Finance and Wonderland, Poolpi of Yearn Finance, Julien of Stake DAO, Sifu of Wonderland, 0xmelin, and Squirrel(Twitter name

The main reasons to invest in Magic Internet Money include: - Yield-bearing tokens like LP tokens(tokens one gets after providing liquidity on a Decentralized Exchange or DEX) can be used as collateral to create/mint MIM stablecoin. - Can do leveraged borrowing by borrowing against the borrowed stablecoin MIM, all in one transaction, thus reducing fees