/
Depeg event
Detected under v1.0
MIM moved above peg at 04:01 UTC on January 20, 2026, with a peak deviation of 5.95% at $1.06. The observation closed 2.0 hr later at 06:01 UTC with a recorded recovery price of $0.9992.
The checked-in price path starts at $1.06 against a recorded peg reference of $1.00. Pharos captured the incident through a historical backfill and evaluates it under v1.0. The record reports the observed price path and resolution state without inferring a cause from those measurements.
Event summary
Related incidents
Other recent peggedUSD depegs
Other cdp incidents
Stablecoin
Magic Internet Money (MIM) →MIM is Abracadabra's CDP-style stablecoin minted against interest-bearing tokens and crypto collateral in cauldron vaults, with automatic liquidations.
Preferred source
Reading Pharos regularly? Mark it as a preferred source and Google will surface Pharos Watch more often in Top Stories, AI Overviews, and AI Mode.
Add Pharos Watch in Google ↗Methodology pin: v1.0 changelog