Magic Internet Money Abra Cadabra
Magic Internet Money has reached 48 on Coingecko's chart. I decided to check it out. Magic Internet Money is a stable coin that appears to be pegged to the dollar and also very liquid. You can swap Magic Internet Money on Curve for other stable coins like Tether. You can also use leverage to borrow against your position and stake. The not so simple image above shows how you are supposed to make money using Yearn and Abra Cadabra. I read through the page for about 10 minutes and I still don't quite understand how you make money with Abra Cadabra and MIM. All I can tell is that it must be very risky because they mentioned that you loose all your money because you are using leverage. Since MIM is now 48th, there must be a bunch of people that fully understand this, but I am not willing to take the risk yet. Maybe after a few more hours of reading. I never figured it out. I got sidetracked. I decided to learn about NFTs in stead. They are much more fun and way less complicated. Check out my new article on how to purchase Bored Ape Yacht Club NFTs and do it properly.