Tag: MIM Token

Abracadabra Money is a charismatic decentralized finance (DeFi) platform offering users, or Spellcasters, the opportunity to extend the utility of the interest-bearing tokens (ibTKNs) from other popular DeFi platforms. Furthermore, the Abracadabra Money protocol allows Spellcasters to use their ibTKNs as collateral to take out loans in Magic Internet Money (MIM) tokens. The MIM token has a US Dollar peg and is transferable for many popular stablecoins. The native SPELL token offers holders governance rights and the chance to earn a passive income through staking with the platform. In turn, Spellcasters receive sSPELL tokens granting utility and earnings from the protocol.