Information:MoreMagic Internet Money (MIM) is the USD stablecoin of Abracadabra.money. Abracadabra is a decentralized finance (DeFi) platform allowing users to borrow MIM against interest-bearing tokens. Stablecoins aim to combine the benefits of a cryptocurrency with the stability of a fiat currency. In this case, MIM is built on top of Ethereum and its price is pegged to the USD’s by an arbitrage incentive mechanism.