Abracadabra Money company
Overview
Abracadabra Money is a decentralized lending protocol that issues the stablecoin MIM (Magic Internet Money) backed by interest-bearing tokens. Users can deposit yield-bearing collateral, such as wrapped versions of LP tokens, to borrow MIM. The protocol enables leverage on yield-generating positions within DeFi.
Within the DeFi Intel graph, Abracadabra Money connects to 1 tracked entity, most strongly to Magic Internet Money.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 1 of 1 total).
| Relation | Connected entity | Confidence |
|---|---|---|
issued_by | Magic Internet Money | 95% |
Frequently asked questions
What is Abracadabra Money?
Abracadabra Money is a decentralized lending protocol that issues the stablecoin MIM (Magic Internet Money) backed by interest-bearing tokens.
How does Abracadabra Money work?
Users deposit yield-bearing collateral, such as wrapped versions of LP tokens, to borrow MIM, enabling leverage on yield-generating positions within DeFi.
What stablecoin does Abracadabra Money issue?
Abracadabra Money issues the stablecoin MIM (Magic Internet Money), which is backed by interest-bearing tokens.