Скачать или смотреть What Is Magic Internet Money (MIM) Backed By? - CryptoBasics360.com

What Is Magic Internet Money (MIM) Backed By? Magic Internet Money (MIM) is an innovative stablecoin that stands out in the cryptocurrency space due to its unique backing mechanism. In this video, we will explore what makes MIM different from traditional stablecoins. Instead of being backed by fiat currencies or simple crypto assets, MIM is supported by interest-bearing tokens, also known as ibTKNS. This means that MIM is collateralized by tokens that generate yield over time, providing a dynamic backing that can grow in value.

We will discuss how MIM operates through the Abracadabra.money protocol, where users can deposit various interest-bearing tokens as collateral. Examples of these tokens include yvYFI, yvUSDC, yvUSDT, xSUSHI, and yvWETH. The process of minting MIM stablecoins from these tokens will be explained, along with the flexibility it offers users in managing their collateral and borrowing limits.

Additionally, MIM's functionality across multiple blockchain networks is a key feature, facilitated by bridges like Anyswap. This allows for seamless cross-chain transfers, making it easier for users to move their MIM between platforms. If you are interested in a stablecoin that not only maintains its value but also benefits from the growth of underlying assets, this video will provide you with the information you need.

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