what's magic internet money?
Magic Internet Money (MIM) is a decentralized, over-collateralized stablecoin pegged to the US dollar, developed by the Abracadabra Money protocol. It enables users to mint MIM by depositing a wide range of crypto assets, including interest-bearing tokens and liquidity provider positions, into specialized lending pools called cauldrons. This mechanism allows borrowers to access liquidity without liquidating their holdings, supporting leveraged yield farming and DeFi strategies across multiple blockchains such as Ethereum, Fantom, Avalanche, and Arbitrum. The protocol's design emphasizes flexibility, with cauldrons tailored to specific collateral types, each featuring parameters like loan-to-value ratios, interest rates, and liquidation fees to manage risk. Interest accrued on deposited collateral helps maintain the peg and generates revenue, a portion of which is distributed to governance token holders. MIM can be used for trading, lending, or as stable collateral in other DeFi applications. Governance of the protocol is handled through the SPELL token, which empowers the community to vote on upgrades, parameter adjustments, and expansions. By abstracting yield from various sources, Abracadabra aims to create a sustainable ecosystem where stability meets opportunity in decentralized finance.
Votemarket liquidity mining rewards now auto-redirect to Stake DAO for extra SPELL rewards.
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ethereum
Coinbase Prime suspends Vault wallet support on March 27, 2026 at approximately 2 PM ET.
Votemarket liquidity mining hook now redirects leftover campaign rewards automatically to Stake DAO boosted vault as extra SPELL rewards.
Deposits $87.6K in current Curve Votemarket round, ranking 2nd among top projects by total deposits.
The protocol's cook function vulnerability allowed attackers to bypass solvency checks by alternating between borrow actions and empty updates that reset control flags, distributing the stolen $1.79M across six addresses.
Protocol suffers $1.8M exploit in October 2025, ranking as the third-largest hack of the month according to PeckShield security report.
Runes 2.0 infrastructure improvements benefit the token with thicker on-chain liquidity and enhanced trading UX through new platforms including @radfi_btc, @dot_swap, @SatsTerminal, @RunesDEX, and @XverseApp, resolving previous issues with aggregators, sniping, and block times.
Token places 4th in weekly loan volume and transaction count on liquidium.wtf platform.
Deploys $119K in Curve votemarket for CRV incentives, ranking among top 5 protocols by rewards allocation.
Stablecoin trading at 2% premium above USD peg, indicating possible liquidity constraints or excess demand.
False Coinbase listing promises circulate amid low liquidity conditions; runes migration decision blocks potential Binance liquidity access.
Token surges 115% in 24-hour trading on Kraken Pro
11.4% of total supply ($10M worth) identified in Satoshi-linked wallet
Token operates with fully diluted supply and zero inflation on Bitcoin, currently trading at 1/400th of DOGE's market cap.
New listing confirmed on Kraken cryptocurrency exchange.
Token reaches $100M market cap following Elon Musk and Coinbase social media engagement, representing >50% growth from previous valuation. New MIM token launches directly on Bitcoin via Rune protocol integration, currently available only on DEXs.
Token maintains #2 position among Runes with $64.5M market cap, trailing only $DOG ($313.7M).
Token surges 66% amid speculation of upcoming Kraken listing
Token leads market in volume with 17% price increase at $62M market cap
New 10K NFT collection by @bitcoinwizardry minted through @mavensbot platform.
Streamer Adin Ross conducts live token purchase broadcast, raising manipulation concerns.
Market cap approaches $100M while maintaining low social visibility
Market cap reaches new all-time high of $70M, breaking through previous $69M resistance level.
Upcoming listing on Kraken exchange announced.
Two additional airdrop phases announced to distribute remaining 70% of supply, targeting expansion to 100,000 total holders from current 17,000 holders.
Significant volume increase accompanied by expansion in holder count and TVL growth.
ICHI vaults launch enables automated liquidity deployment across 35+ AMMs, while new Stargate Finance integration allows WNIBI bridging between Arbitrum, Base, Ethereum, and Polygon networks.
Integration partnership with Avalon Finance launches, offering Bitcoin-backed stablecoin yields up to 10% APY on Nibiru.
Cross-chain bridge launches enabling SPELL token movement between ETH and Nibiru networks.
Currently ranking as top gainer on CoinGecko platform.
New spot listing confirmed on Ourbit exchange, trading starts June 18, 2025 at 11:00 UTC with deposits now open.
First Tier 1 exchange listing confirmed on Kraken.
Spot trading now available on Biconomy exchange.
New AI partnership focuses on developing real-world asset arbitrage opportunities.
Market cap surges from $100k to $2.5M within hours on Avalanche network.
New spot listing announced on HIBT Global exchange.
New $147k SPELL reward campaign launches on Votemarket for veCRV and vlCVX voters.
Currently ranks #2 among Runes tokens with $50.7M market cap.
Stake DAO's MIM/3CRV strategy hits $7.5M ATH in deposits, offering 112.12% APR including 106.71% from SPELL token rewards.
MIM tokens face bridge listing limitations and high transfer costs; beam function recommended as alternative solution.
New cross-chain bridge launches enabling SPELL transfers between Ethereum and Berachain via LayerZero.
500M SPELL tokens airdropped to MIM/HONEY LP providers through KodiakFi and InfraredFinance collaboration.
New yield farming opportunity launching with 80%+ APY on stNIBI deposits and higher potential yields on SyrupUSDC through leverage.
Second largest Bitcoin Runes token with $59.1M market capitalization
New integration with Abracadabra protocol enables yield farming opportunities through MIMSwap DEX during Nibiru EVM launch.
Ranks as second-largest Bitcoin memecoin with $64.2M market cap, behind DOG ($177.5M).
$150K SPELL rewards deployed on Votemarket for veCRV and vlCVX voters in recurring campaign.
Instant lending volume reaches all-time high with strong protocol performance.
Token price surges 30% following 1+ BTC market sweep.
New deployment on Nibiru Chain launches with MIMSwap, leveraged farming, and SPELL rewards.
Bitcoin memecoin completes migration from BRC-20 to Runes standard, rebranding from WZRD to MIM ticker.
Trading against Bitcoin with thin liquidity; imminent CEX listing could trigger 3-4x move.
Token migration completes with 89% participation; unmigrated 11% sent to Satoshi's wallet representing 30% of rune value.
Major token burn removes 2.4B tokens (11.46% of total supply), valued at $7.4M.
Token migration from WZRD to MIM ends in 8 hours.
SlingshotCrypto platform announces runes support integration, potentially expanding adoption channels.
Strategic expansion into HyperEVM ecosystem through new AMM platform incubation, leveraging existing technology.
Strategic expansion into HyperEVM through PurrSwap incubation, targeting stablecoin and future volatile asset trading.
Project maintains 3K significant holders with $1K+ positions, indicating strong investor commitment.
Active top depositor status maintained on Curve Finance's Votemarket, indicating significant governance participation.
Token migration deadline approaches with 75% of total supply already claimed in BRC20 to Runes conversion.
Token price surges 100% amid broader ecosystem recovery signals.
Current market cap at 74M with upcoming free 10k PFP mint announced for holders.
New all-time high market cap of $69M reached with 4.6 BTC onchain volume.
Current market cap at $75M, requires 2x growth to reach leading Bitcoin memecoin position.
Protocol migration from BRC-20 to Runes standard begins in 7 days.
Exploiter moves $1.9M (1.26K ETH) to Tornado Cash mixer, indicating potential security breach.
WZRD holders have 9 days remaining to claim MIM tokens.
Warning: Multiple fake versions circulating on Solana. Legitimate token originated on Bitcoin by Reddit creator @mavensbot and is bridged to Solana.
New whitelabeled AMM PurrSwap launches with cauldron integration for interest-bearing token collateralization. Protocol expands to Berachain and Nibiru chains.
Active voting incentives available on Votemarket for veCRV holders with deadline today.
$160K deposited to Stake DAO Votemarket for veCRV and vlCVX voting power acquisition.
Protocol exploit results in $13M theft; treasury implements immediate 50% MIM burn and pledges full recovery plan.
Potential mass burning event mentioned for April 15th.
Discussion about MIM potential to reach billions in market cap.
Referenced as MIM, being integrated with Xverse wallet.
Magic Internet Money memecoin launching within 24 hours as of tweet.
Free & Fair rune airdrop with 30% of supply distributed in phase 1 to 18k addresses. Plans for two more phases to distribute remaining 70% to total of ~100k addresses.
Completed phase 1 airdrop (30% of supply) to multiple Bitcoin collections. Two more phases planned: phase 2 (40%) and phase 3 (30%).
Launching in 11 days. Next runes liquidity event.
Tarot NFT Collection verified and available for trading on Magic Eden as of Jan 15.
Added 100+ new holders in one day according to latest update.
Mentioned with positive price action expectation but no specific metrics.
Referenced as investment opportunity with emphasis on community aspects.
Community project facing controversy with reported wrongdoings by an individual. No specific metrics provided.
Mentioned in context of "ACTO" (Artist AND Community Takeover).
WZRD migrating from BRC20 to Magic Internet Money on Runes, announced November 5th.