.MIM_Spell's MIM stablecoin dipped to $0.9520 during the early Asian hours, Coingecko data show. By godbole17
's magic internet money , a U.S. dollar-pegged stablecoin, dropped below $1 early Tuesday as crypto exchange FTX's native token FTT tanked.
FTT is the largest collateral backing MIM, accounting for 33% of the total locked in Abracadabra's"cauldrons," according to the officialCauldrons allow users to borrow MIM using another asset as collateral. Each cauldron is collateral specific.
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