Magic Internet Money (Optimism)Price(MIM)
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Magic Internet Money (Optimism) (MIM) Price information (USD)
The current real-time price of MIM is $0.9978. In the past 24 hours, MIM has traded between $0.9978 and $0.9978, showing strong market activity. The all-time high of MIM is $1.79, and the all-time low is $0.8906.
From a short-term perspective, the price change of MIM over the past 1 hour is
Magic Internet Money (Optimism) (MIM) Market Information
Magic Internet Money (Optimism) (MIM) Today's Price
The live price of MIM today is $0.9978, with a current market cap of $17.881M. The 24-hour trading volume is 19.04. The price of MIM to USD is updated in real time.
Magic Internet Money (Optimism) (MIM) Price History (USD)
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What is MAGIC INTERNET MONEY (OPTIMISM) (MIM)?
When is the right time to buy MIM? Should I buy or sell MIM now?
Before deciding whether to buy or sell MIM, you should first consider your own trading strategy. Long-term traders and short-term traders follow different trading approaches. LBank’s MIM technical analysis can provide you with trading references.
Future price trend of MIM
What will the value be? You can use our price prediction tool to conduct short-term and long-term price forecasts for MIM.
How much will MIM be worth tomorrow, next week, or next month in ? What about your MIM assets in 2025, 2026, 2027, 2028, or even 10 or 20 years from now? Check now! MIM Price Prediction
How to buy MAGIC INTERNET MONEY (OPTIMISM) (MIM)
Convert MIM to local currency
MIM Resources
To learn more about MIM, consider exploring other resources such as the whitepaper, official website, and other published information:
Top 5 addresses | Holding amount | Holding ratio | |
|---|---|---|---|
optimistic-ethereum | 0x4217...48b513  | 17.880M | 99.78% |
optimistic-ethereum | 0x29a2...624e9a | 6,523 | 0.04% |
optimistic-ethereum | 0x0c66...d400cf | 5,861 | 0.03% |
optimistic-ethereum | 0x8ca1...bcab2b | 2,341 | 0.01% |
optimistic-ethereum | 0xf07e...9b2cb3 | 1,273 | 0.01% |
Other | 22,689.58 | 0.13% |
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MAGIC INTERNET MONEY (OPTIMISM) (MIM) FAQ
What is Magic Internet Money (MIM)?
MIM is a decentralized stablecoin created by Abracadabra.money, designed to maintain a stable value pegged to the US dollar. It operates on multiple blockchains, including Ethereum and Optimism. Its stability is ensured through an economic system that leverages financial incentives, providing a stable asset for users within the Web3 ecosystem.
What is MIM used for?
MIM serves various financial purposes due to its stability. It acts as a hedge against market volatility and can be utilized for market making and leveraging strategies. Users can also engage in trading MIM, stake it to potentially earn income, or facilitate fast and cost-effective international payments. Its stable nature makes it a versatile tool for managing digital assets.
How is MIM created and its peg to the USD maintained?
MIM is minted when users provide interest-bearing crypto assets, known as ibTKNs, as collateral on the Abracadabra.money platform. It is burned when the associated debt is repaid. The peg to the US dollar is maintained through several mechanisms, including automated market-making, balancing supply and demand dynamics, and leveraging arbitrage opportunities that incentivize market participants to keep its value close to one dollar.
What collateral types are accepted to mint MIM?
Abracadabra.money accepts a variety of interest-bearing tokens (ibTKNs) as collateral for minting MIM. Examples include yvYFI, yvUSDT, yvUSDC, and xSUSHI. Additionally, popular tokens like Fantom (FTM) can also be used. This diverse range of accepted collateral allows users flexibility in borrowing MIM against their existing digital assets.
What are the risks associated with MIM, especially regarding collateral?
Key risks for MIM users revolve around its collateralized nature. Since the underlying collateral consists of interest-bearing assets, there's a potential risk of "bad debt" accumulation if the value of these assets significantly drops. Furthermore, users face liquidation risk if the market price of their deposited collateral falls below a predefined liquidation threshold, leading to their collateral being sold to cover the debt.
How does MIM function on the Optimism network?
MIM's integration with the Optimism network allows it to leverage Optimism's Layer 2 scaling benefits. This means users can trade and utilize MIM within the Optimism ecosystem with significantly lower transaction fees and faster processing speeds compared to transactions on the Ethereum mainnet. MIM is designed as a multichain token, enabling its transfer across different networks using blockchain bridges to maintain interoperability.
