Magic Internet Money (MIM) is an interest-bearing stable coin backed by tokens that accumulate volume as users pay back interest on portions they borrowed from the lending pool. The Abracadabra platform stores collateral tokens in your account, giving you the opportunity to borrow without having to use fiat money. Instead of letting banks decide, this project gives individuals control over their lending rates and rewards them with MIM tokens for their participation.
Cryptocurrency is an exciting, new space to get involved in. Find out how to get in on the action.
*Â Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.
Because stablecoins* are designed to maintain a peg to fiat currencies, they can be useful tools. Coins such as USDC, USDT and QCAD generally experience lower volatility than other crypto assets.
*Â Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.
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Connect your bank account or utilize Interac e-Transfers to add or withdraw funds seamlessly.
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