Saber Launches First Magic Internet Money Stable Pools on Solana with Allbridge

Published on: 10.12.2021

Saber is excited to launch the new Magic Internet Money (MIM) pools on Solana in partnership with Allbridge.

Magic Internet Money is a decentralized stablecoin offered by the Abracadabra.money project, a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD pegged stablecoin (Magic Internet Money — MIM), that can be used as any other traditional stablecoin.

The new pools pair MIM / UST and MIM / CASH. SBR rewards will go live for the pools within 1 hour! To bridge these assets, head to Allbridge and select Ethereum as the source chain (this version of MIM originates on Ethereum).

About Saber

Saber is the leading cross-chain AMM for pegged assets on Solana, such as stablecoins and wrapped assets. As Solana’s core cross-chain liquidity network, Saber helps facilitate the transfer of assets between Solana and other blockchains. Users deposit crypto into a Saber liquidity pool to earn passive yield from transaction fees, token-based incentives, and eventually automated DeFi strategies.

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About Allbridge

Allbridge is a modular and expanding token bridge with on-chain consensus. It’s a simple, modern, and reliable way to transfer assets between blockchain networks. Allbridge mission is to make the blockchain world borderless and provide a tool to freely move assets between different networks. In the future it will evolve into a DAO-style multi-chain hub, establishing connections between the EVM and non-EVM networks.

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