Stablecoin record
Magic Internet Money
USD-denominated stablecoin minted through Abracadabra isolated lending markets using supported collateral. The archive records MIM as an active protocol stablecoin while separating collateral-market risk, debt repayment, market exits, omnichain deployments, deprecated markets, and exploit history.
LifecycleActive
Events1
Sources3
| Symbol | MIM |
|---|---|
| Asset class | Stablecoin |
| Reference target | Fiat |
| Redemption / exit model | Vault Withdrawal |
| Valuation source | Abracadabra protocol reference |
| Yield / rebase profile | No recorded change · Accrual: No recorded change |
| Classification notes | MIM is protocol debt issued against supported collateral. |
| Lifecycle status | Active |
| Issuance status | Protocol Based |
| Peg reference | Fiat · USD |
| Backing types | Crypto Collateral, Mixed |
| Stabilization | Overcollateralized Vault |
| Governance | DAO Governed |
| Primary organization | Abracadabra Money |
| Primary role | Protocol Operator |
| Last reviewed | 2026-06-14 |
| Organization | Role | From | Until | Relationship status |
|---|---|---|---|---|
| Abracadabra Money | Protocol Operator | — | — | Active |
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Abracadabra Money
Protocol Ecosystem · Unknown
Event history
1 event connected to this stablecoin.
| Disclosure status | Protocol Transparent or Partial |
|---|---|
| Backing types | Crypto Collateral, Mixed |
| Summary | MIM is issued through isolated Abracadabra lending markets against supported collateral. Exposure varies by cauldron and deprecated markets must be separated from active issuance routes. |
| As of | 2026-06-14 |
| Profile confidence | Medium |
| Current status | Protocol Based |
|---|---|
| Settlement asset | Collateral release through debt repayment or secondary-market exit |
| Eligible parties | Borrowers with active cauldron positions can repay MIM debt to release collateral; other holders generally rely on market or protocol liquidity. |
| Retail access | Protocol or Market Based |
| Institutional access | Protocol or Market Based |
| Minimum amount | Market- or cauldron-specific. |
| Fee | Cauldron interest, liquidation, gas, and market costs may apply. |
| Settlement time | Protocol- and market-dependent. |
| Regional limits | Interface and market availability may vary by jurisdiction and current protocol configuration. |
| Section | Entries |
|---|---|
| Organizations | 1 |
| Sources | 3 |
| Reserve reports | 0 |
| Regulatory notes | 0 |
| Deployments | 1 |
| Issuer-control actions | 0 |
| Open questions | 2 |
| Events | 1 |
| Date | Event | Type | Detail kind | Recovered |
|---|---|---|---|---|
| 2025-03-25 | Abracadabra GM Cauldrons attack mints undercollateralized MIM | Protocol Exploit | Other | — |
| Date | Publisher | Type | Assets covered | Record confidence |
|---|---|---|---|---|
| No reserve reports have been added yet. | ||||
| Date | Title | Authority / publisher | Type | Summary |
|---|---|---|---|---|
| No regulatory notes have been added yet. | ||||
| Chain | Standard | Deployment | Status | Freeze | Blacklist | Control events | Contract | Notes |
|---|---|---|---|---|---|---|---|---|
| Ethereum | — | Native | Active | Unknown | Unknown | 0 | 0x99D8a9C45b2ecA8864373A26D1459e3Dff1e17F3 | Official Ethereum MIM address from Abracadabra documentation. Other native, bridged, and omnichain representations require separate records. |
| Source | Publisher | Type | Evidence scope | Reliability |
|---|---|---|---|---|
| Abracadabra documentation introduction | Abracadabra Money | Protocol Docs | Mim Protocol Design and Collateralized Borrowing | High |
| MIM tokenomics and supported contracts | Abracadabra Money | Protocol Docs | Mim Peg Contract and Multichain Context | High |
| Post Mortem - attack on GM Cauldrons 25/03/25 | Abracadabra Money | Protocol Postmortem | Mim Gm Cauldron Exploit and Response | High |
| Topic | What remains unclear | Priority | Last checked |
|---|---|---|---|
| Active Collateral Markets | The complete current inventory of active, deprecated, paused, and chain-specific MIM cauldrons has not yet been normalized into SOG. | Medium | 2026-06-14 |
| Incident Recovery | The final repayment, bad-debt, and supply effects of the March 2025 GM cauldrons attack require later source-by-source follow-up. | High | 2026-06-14 |