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Abracadabra

Abracadabra

Abracadabra.money is a lending platform that allows users to utilize interest-bearing tokens as collateral to mint MIM, a USD-pegged stablecoin. MIM (Magic Internet Money) is a stablecoin that users can swap for any other traditional stablecoins.
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Description

Abracadabra.money is an Omnichain DeFi lending platform that utilizes interest-bearing tokens as collateral to mint Magic Internet Money (MIM), a USD-denominated stablecoin. MIM operates with its value pegged to the USD, backed by these interest-bearing tokens. The platform's utility and governance token, SPELL, allows holders to participate in key decision-making processes. Abracadabra also offers seamless cross-chain asset movement through its Beam feature, powered by Layer Zero.