Depeg event

Magic Internet Money depeg below peg — June 8, 2026

Detected under v6.06

Event summary

Direction: below peg
Peak deviation: 26.6%
Started: June 8, 2026
Ended: Ongoing
Duration: —
Peg reference: $0.9999
Start price: $0.9895
Peak price: $0.7342

Related incidents

Other recent peggedUSD depegs

2026-06-16apxUSDpeak 6.35% below peg
2026-06-13MAIpeak 19.2% below peg
2026-06-02apxUSDpeak 10.6% below peg

Other cdp incidents

2026-05-29USDXLpeak 7.37% above peg

Co-occurring stress events

2026-06-14KAGpeak 7.29% below peg

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.

Methodology pin: v6.06 changelog