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Record sog_st_mim

MIMMagic Internet Money

Also recorded as MIM, Magic Internet Money

Active

Lifecycle: Active
Issuance: Protocol-based
Reference target: US dollar
Primary organization: Abracadabra MoneyNo additional recorded relationship
Launch: Not yet recorded
Redemption: Vault Withdrawal
Backing: Crypto-collateralized
Stabilization: Overcollateralized vault
Last review: 2026-06-14
Evidence: 6 source records

Reviewed assessment

Identity and current state

This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.

USD-denominated stablecoin minted through Abracadabra isolated lending markets using supported collateral. The archive records MIM as an active protocol stablecoin while separating collateral-market risk, debt repayment, market exits, omnichain deployments, deprecated markets, and exploit history.

Name	Magic Internet Money
Symbol	MIM
Aliases	MIM, Magic Internet Money
Asset class	Stablecoin
Lifecycle status	Active
Issuance status	Protocol-based
Canonical record ID	`sog_st_mim`
Route slug	`mim`
Record confidence	Medium
Last reviewed	2026-06-14

Name: Magic Internet Money
Symbol: MIM
Aliases: MIM, Magic Internet Money
Asset class: Stablecoin
Lifecycle status: Active
Issuance status: Protocol-based
Canonical record ID: sog_st_mim
Route slug: mim
Record confidence: Medium
Last reviewed: 2026-06-14

Record coverage

Section	Entries
Organizations	1
Sources	6
Reserve reports	0
Reserve components	1
Model-history events	1
Regulatory notes	0
Deployments	1
Issuer-control actions	0
Open questions	3
Events	3

Organizations and control

Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.

Governance: DAO Governed
Primary display organization: Abracadabra Money
Primary display role: Protocol operator
Display selection mode: Deterministic Policy
Current relationships: 1
Ended relationships: 0
Unknown relationship state: 0
Freeze capability: 0 recorded yes · 0 recorded no · 1 not recorded
Blacklist capability: 0 recorded yes · 0 recorded no · 1 not recorded
Deployment control-event references: 0
Observed issuer-control events: 0
Relationship coverage: 1 recorded relationship

All current, ended, and unknown-state organization relationships
Organization	Organization category	Regulatory character	Jurisdiction	Role	Display priority	From	Until	Relationship status
Abracadabra Money	Protocol or software system	Protocol or decentralized system	Unknown or not publicly resolved	Protocol operator	Primary display	Not yet recorded	Not yet recorded	Active relationship

Protocol or software system

Abracadabra Money

Primary display

Functional role: Protocol operator
Relationship status: Active relationship
Regulatory character: Protocol or decentralized system
Jurisdiction: Unknown or not publicly resolved
From: Not recorded
Until: Not recorded

Mechanism

How the asset works

Reference, backing, stabilization, exit, valuation, and yield remain separate facts.

Reference target: US dollar
Reference kind: Fiat
Comparison category: US dollar
Target value: 1
Reference methodology: Targets a US dollar reference value unless the record documents a different target value.
Public backing model: Crypto-collateralized
Canonical backing types: Crypto Collateral, Mixed
Reserve component categories: Crypto Collateral
Primary stabilization mechanism: Overcollateralized vault
Recorded model description: Crypto Collateralized Isolated Lending Markets
Redemption / exit model: Vault Withdrawal
Valuation source: Abracadabra protocol reference
Yield / rebase profile: No recorded change · Accrual: No recorded change
Classification notes: MIM is protocol debt issued against supported collateral.

Reserve and redemption

Recorded components, disclosures, reports, and redemption conditions remain explicit.

Reserve components

Crypto collateralCrypto Collateral

Reserve profile

Disclosure status	Protocol Transparent or Partial
Backing types	Crypto Collateral, Mixed
Summary	MIM is issued through isolated Abracadabra lending markets against supported collateral. Exposure varies by cauldron and deprecated markets must be separated from active issuance routes.
As of	2026-06-14
Profile confidence	Medium

Disclosure status: Protocol Transparent or Partial
Backing types: Crypto Collateral, Mixed
Summary: MIM is issued through isolated Abracadabra lending markets against supported collateral. Exposure varies by cauldron and deprecated markets must be separated from active issuance routes.
As of: 2026-06-14
Profile confidence: Medium

Redemption profile

Current status	Protocol Based
Settlement asset	Collateral release through debt repayment or secondary-market exit
Eligible parties	Borrowers with active cauldron positions can repay MIM debt to release collateral; other holders generally rely on market or protocol liquidity.
Retail access	Protocol or Market Based
Institutional access	Protocol or Market Based
Minimum amount	Market- or cauldron-specific.
Fee	Cauldron interest, liquidation, gas, and market costs may apply.
Settlement time	Protocol- and market-dependent.
Regional limits	Interface and market availability may vary by jurisdiction and current protocol configuration.

Current status: Protocol Based
Settlement asset: Collateral release through debt repayment or secondary-market exit
Eligible parties: Borrowers with active cauldron positions can repay MIM debt to release collateral; other holders generally rely on market or protocol liquidity.
Retail access: Protocol or Market Based
Institutional access: Protocol or Market Based
Minimum amount: Market- or cauldron-specific.
Fee: Cauldron interest, liquidation, gas, and market costs may apply.
Settlement time: Protocol- and market-dependent.
Regional limits: Interface and market availability may vary by jurisdiction and current protocol configuration.

Reserve and attestation history

Date	Publisher	Type	Assets covered	Record confidence
No reserve reports have been added yet.

No reserve reports have been added yet.

Deployments and legal context

Network state, contract identity, legal notices, and value states remain separate.

Blockchain deployments

Network	Network record state	Standard	Public deployment category	Canonical deployment type	Operational state	Recorded status	Change or proposal state	Canonicality	Canonicality record state	Verification state	Contract identity state	Contract or identifier	Freeze	Blacklist	Control events	Notes
Ethereum	Specific network recorded	Not yet recorded	Canonical or native issuance	Native	Active	Active	No separate change state recorded	Native deployment	Canonicality recorded	Identifier recorded; verification not recorded	Identifier recorded	0x99D8a9C45b2ecA8864373A26D1459e3Dff1e17F3	Not yet recorded	Not yet recorded	0	Official Ethereum MIM contract created on 2021-05-25. Contract deployment is separate from the unresolved first public Cauldron, first issuance, and UI-availability boundaries.

Regulatory and official notices

Date	Title	Authority / publisher	Type	Summary
No regulatory notes have been added yet.

No regulatory notes have been added yet.

Evidence

Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.

6 source identities · 6 evidence relations
Source	Publisher	Source category	Provenance	Primary or secondary	Supported claims	Archive	Reliability
Abracadabra documentation introduction Published Not yet recorded	Abracadabra Money	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Mim Protocol Design and Collateralized Borrowing	No archive recorded	High
MIM tokenomics and supported contracts Published Not yet recorded	Abracadabra Money	Official documentation or product page Canonical: Protocol Docs	Subject-controlled source	Primary source	Mim Peg Contract and Multichain Context	No archive recorded	High
Post Mortem - attack on GM Cauldrons 25/03/25 Published 2025-03-27	Abracadabra Money	Official statement or announcement Canonical: Protocol Postmortem	Subject-controlled source	Primary source	Mim Gm Cauldron Exploit and Response	No archive recorded	High
Abracadabra, SPELL and Magic Internet Money Published 2021-05-05	Abracadabra Money	Official statement or announcement Canonical: Official Blog	Subject-controlled source	Primary source	Introduction Date, Mim Identity, Abracadabra Protocol Design, Product and Protocol Introduction	Archive index or wildcard	High
MIM Ethereum contract creation Published 2021-05-25	Etherscan	On-chain record or explorer Canonical: Onchain Explorer	Technical primary source	Primary source	Contract Creation Date, Deployment Boundary, Pre Public Launch Deployment, Ethereum Contract Deployment	Archive index or wildcard	High
sCIP#40 Adding a MIM/3Pool metapool Published 2021-06-11	Abracadabra Money via Curve Governance	Governance record Canonical: Governance Proposal	Governance primary source	Primary source	First Lending Market Range, Lp Rewards Start, Live Protocol Use, Mim Supply and Liquidity, Early Lending Market and Liquidity Operation	Archive index or wildcard	High

Known unknowns

Known unknowns and coverage

Missing or disputed facts remain visible instead of being converted into certainty.

Open questions

Topic	What remains unclear	Value state	Priority	Last checked
Exact Public Launch Boundary	The official introduction is fixed to 2021-05-05, Ethereum deployment to 2021-05-25, LP reward activation to 2021-06-05, and live protocol operation to no later than 2021-06-11. The exact first public Cauldron, first MIM issuance, and public UI-availability day remain unresolved.	Unknown after review	Low	2026-06-25
Active Collateral Markets	The complete current inventory of active, deprecated, paused, and chain-specific MIM cauldrons has not yet been normalized into SOG.	Unknown after review	Medium	2026-06-14
Incident Recovery	The final repayment, bad-debt, and supply effects of the March 2025 GM cauldrons attack require later source-by-source follow-up.	Unknown after review	High	2026-06-14

Exact Public Launch Boundary

The official introduction is fixed to 2021-05-05, Ethereum deployment to 2021-05-25, LP reward activation to 2021-06-05, and live protocol operation to no later than 2021-06-11. The exact first public Cauldron, first MIM issuance, and public UI-availability day remain unresolved.

Value state: Unknown after review
Priority: Low
Last checked: 2026-06-25

Active Collateral Markets

The complete current inventory of active, deprecated, paused, and chain-specific MIM cauldrons has not yet been normalized into SOG.

Value state: Unknown after review
Priority: Medium
Last checked: 2026-06-14

Incident Recovery

The final repayment, bad-debt, and supply effects of the March 2025 GM cauldrons attack require later source-by-source follow-up.

Value state: Unknown after review
Priority: High
Last checked: 2026-06-14

Lifecycle

History

Current classification remains separate from dated changes and incidents.

Model and lifecycle changes

2025-03-25Abracadabra GM Cauldrons attack mints undercollateralized MIMOther

Event timeline

Date	Event	Category	Subtype	Status effect	Recovery
2021-05-05	Abracadabra introduces Magic Internet Money	Launch and introduction	Announcement	No lifecycle change	Not applicable
2021-06-05	MIM/3CRV LP staking rewards begin	Market and liquidity support	Liquidity Incentive Start	Remained active	Not applicable
2025-03-25	Abracadabra GM Cauldrons attack mints undercollateralized MIM	Security and chain incident	Protocol Exploit	Remained active	Not applicable

Related records and corrections

Corrections and further reading

Open connected records, methodology, machine-readable data, or report a correction.