Abracadabra.money
Abracadabra.money is a DAO-governed, omnichain DeFi lending platform and the issuer of Magic Internet Money (MIM), a US-dollar stablecoin backed by interest-bearing collateral.
Products
Overview
Abracadabra.money is an omnichain decentralized lending platform governed by its DAO. Users deposit collateral into lending markets to mint its stablecoin, Magic Internet Money (MIM).
Products
MIM is a US-dollar stablecoin minted against interest-bearing tokens and other crypto collateral through the protocol's Cauldron lending markets.
Regulatory Status
As a decentralized protocol, Abracadabra does not operate as a licensed issuer; no issuer-level licenses or registrations were identified.
Recent Activity
- 2026-06-24DepegLiquidity-driven depeg; protocol raised Cauldron rates to encourage debt repayment
- 2026-06MilestoneMIM suffered a liquidity-driven depeg; protocol raised Cauldron rates to restore the peg
- 2024-01-30DepegSmart-contract exploit affecting Abracadabra lending markets
- 2024-01MilestoneLending markets hit by a smart-contract exploit; MIM briefly depegged
- 2021-05MilestoneLaunched Magic Internet Money (MIM) and the Cauldron lending markets