Can you verify Magic Internet Money (MIM) reserves yourself?
MIM is not trading at its dollar peg: after a June 2026 depeg it traded near $0.14 on July 3, 2026, about 86 percent below a dollar, and Abracadabra has raised borrow rates across every cauldron to force repayment while suspending incentives until the peg returns. Read this page as a record of a live crisis, not a stable comparison.
Minted as debt against collateral deposited in Abracadabra's on-chain "cauldron" lending markets, which are isolated CDP vaults. The collateral sits in readable contracts on Ethereum, so the backing is on-chain and has no third-party reserve attestor. On-chain-readable is not the same as sound: MIM broke its dollar peg in June 2026 on thin, one-sided liquidity, and by July 3, 2026 it traded near $0.14, about 86 percent below a dollar. Its reserves are readable, and they were not holding the peg.
What you cannot verify yourself: Nothing off-chain is attested for MIM, so the residual question is not attestor trust but collateral trust: whether the on-chain collateral in the cauldrons actually covers the outstanding MIM at prices it can be liquidated into, and whether Abracadabra's peg defense, raising borrow rates across every cauldron to force repayment plus suspending incentives, restores the dollar. As of July 3, 2026 it had not, and MIM traded near $0.14.
MIM at the address above is Abracadabra.money's Magic Internet Money on Ethereum. The same project bridges MIM to other chains (Arbitrum, Avalanche and others) as one omnichain token, so a MIM balance on another chain is the same issuer rather than a look-alike; only the canonical address on each chain is identity. Abracadabra's SPELL is its separate governance token, not MIM.
Issued by Abracadabra.money. "Attestor-optional" describes the structure of the verification, not the quality of the issuer.
Run this on MIM yourself, or get a signed record of it.
The read below is free and live. Or get a machine-signed, point-in-time read of this exact address in about two minutes, that anyone you forward it to can verify in three lines without trusting you. Because MIM is not trading or operating normally, a signed read documents its on-chain state at a point in time, useful for records, books, or recovery claims, not for a purchase decision.
Signed on the page after you pay in USDC on Base: no email, no wait. It signs public on-chain bytes only (supply, decimals, and symbol at a block), not a solvency opinion and not a claim about who controls the address. Issuing a dollar of your own? The GENIUS-readiness kit is $999 setup then $99 a month. Not compliance and not an audit.
Live supply, and the command that reproduces it
What this read establishes: On-chain MIM supply on Ethereum, about 174.9M totalSupply on July 3, 2026, of which DefiLlama tracked only about $4.1M as circulating (the borrowed float, with the rest held unborrowed in protocol reservoirs); the collateral held in each cauldron contract; and the state of the main Curve MIM/3Crv pool, whose stablecoin side was nearly drained at the July 3 read.
Reproduce the supply read yourself
cast call 0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3 "totalSupply()(uint256)" --rpc-url https://ethereum-rpc.publicnode.comcast call 0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3 "symbol()(string)" --rpc-url https://ethereum-rpc.publicnode.comPrefer curl? Show the raw JSON-RPC call
curl -s -X POST https://ethereum-rpc.publicnode.com -H 'content-type: application/json' --data '{"jsonrpc":"2.0","id":1,"method":"eth_call","params":[{"to":"0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3","data":"0x18160ddd"},"latest"]}'Live supply is read from the chain and cached hourly on this page; the command above is real-time. Always confirm you are reading the canonical contract address. A look-alike token can copy any name or symbol; only the address is identity.
Other crypto-collateralized tokens
Also: the reserve transparency scorecard, the Stablecoin Reserve Recomputation Report, every stablecoin we cover, or paste any address into the free tool.
Kerne is infrastructure and a service provider, not an auditor, a rating agency, a custodian, or an investment adviser. This page reads public on-chain data and names publicly disclosed transparency methods. It is not an audit, a solvency or credit opinion, a recommendation, or any form of investment, legal, tax, or accounting advice, and the appearance of MIM is not an endorsement. Reserve-transparency descriptions are sourced from Abracadabra.money's public disclosures and, where the token is listed there, the Kerne synthetic-dollar scorecard, cross-verified June 29 to July 3, 2026; verify at the canonical sites. Kerne is not affiliated with Abracadabra.money or any attestor named here. Page reviewed 2026-07-03. Last updated July 3, 2026.