Abracadabra’s MIM Token Listed on Binance Smart Chain Derivatives Exchange MCDEX

Following the news that magic internet money will come to Binance Smart Chain, MIM token will list on the derivatives exchange MCDEX.

MIM Lands on MCDEX

Abracadabra Magic Internet Money is swiftly integrating into the Binance Smart Chain (BSC) ecosystem, following a community vote which overwhelmingly backed the move. In one of its first major moves on BSC, the company will now list the MIM stablecoin on the MCDEX derivatives exchange. 

The MIM stablecoin can be acquired by locking interest-bearing assets such as yvYFI, yvUSDT, yvUSDC, and xSUSHI. Now BSC users will be able to trade their MIM for other assets on MCDEX. 

Thanks to MCDEX, users can now trade the following with leverages:

SPELL / MIM

ETH / MIM 

BTC / MIM

MCDEX has also created a MIM pool for fee sharing and has invited users to participate here.

Having only just arrived on BSC, Abracadabra Magic Internet Money has moved incredibly swiftly to list on MCDEX. Upon proposing the BSC integration to its community, the company cited the $1 billion Binance ecosystem fund as another reason why MIM should diversify. 

It will be interesting to see if MIM’s next collaboration is with Binance themselves or whether the wizards at Abracadabra have something else up their sleeve.

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What is Abracadabra Magic Internet Money

Abracadabra.money is a magical crypto spellbook that allows users to produce magic internet money ($MIM) which is a stable coin that you can swap for any other traditional stable coin. The protocol functions as a multi-chain lending protocol utilizing interest-bearing assets to mint Magic Internet Money. As a spellcaster, users provide collateral in the form of interest-bearing crypto assets such as yvYFI, yvUSDT, yvUSDC, xSUSHI, and more.

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Source : bsc.news