Magic Web Cash races previous $1B, units sights on MakerDao By Cointelegraph

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© Reuters.

Abracadabra.Cash’s stablecoin, Magic Web Cash (MIM), has surged previous a $1-billion whole provide this month because the mission 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 mission additionally has a SPELL governance token that may be staked on the protocol.