Magic Internet Money races past $1B, sets sights on MakerDao By Cointelegraph

© Reuters.

Abracadabra.Cash’s stablecoin, Magic Web Cash (MIM), has surged previous a $1-billion complete provide this month because the challenge works to supply competitors to MakerDAO.

Abracadabra is a cross-chain stablecoin lending protocol that operates on , Binance Sensible Chain (BSC), Fantom, and Arbitrum. Together with MIM, the challenge additionally has a SPELL governance token that may be staked on the protocol.