Abracadabra.money announced a $100,000 capital injection into the Curve Finance pool that holds its algorithmic stablecoin Magic Internet Money (MIM), aiming to shore up liquidity after the token slipped below its $1 target. The move is intended to stabilize MIM’s price and reassure crypto investors that the protocol remains committed to maintaining the peg.
Liquidity Injection Mechanics
The injection combines MIM with equal parts USDT and USDC, forming a balanced tri‑asset pool on Curve. Abracadabra.money said the move counters a sudden outflow triggered by a recent redesign of its DeFi incentive scheme, which altered reward payouts for liquidity providers. Restoring pool depth has become