MIM Migration Deadline
APR
15
Event date
Tuesday 15 April 2025, UTC
Event description
- The $MIM migration, ending April 15, 2025, marks the transition of Magic Internet Money, a stablecoin on the Abracadabra platform, to a fully decentralized, 100% circulating supply model, eliminating centralized risks; MIM’s price is $0.9994 with a 24-hour trading volume of $102,849.74, per CoinMarketCap data.
- The post highlights a token burn, with 10-15% of $MIM expected to be removed from circulation, a deflationary tactic to potentially increase value by reducing supply, a strategy that can boost token price when demand holds, as seen in projects like Binance Coin, which burned $1.2B in tokens in 2021, leading to a 30% price surge within a month.
- “Magic Internet Money season” reflects community excitement for $MIM’s role in DeFi, where users borrow it by staking interest-bearing tokens, a mechanism that has fueled Abracadabra’s growth to over $500M in TVL since 2021, though stablecoins face scrutiny after UST’s 2022 collapse, which wiped out $40B in market cap.
MAGIC•INTERNET•MONEY (Bitcoin)
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