神奇的網路貨幣 (MIM) 成為 DeFi 巨頭 MakerDAO 的可怕挑戰者

Abracadabra 的 Magic Internet Money (MIM) 穩定幣於 2022 年 5 月發行，市值已超過 10 億美元，挑戰 MakerDAO 的 DAI。 Abracadabra 創新地使用生息代幣作為抵押品和多鏈部署，推動了其成長。該協議的費用結構將 75% 的利息分配給 SPELL 質押者，進一步促進了其成功。 Abracadabra 的聯合創始人以對 USDC 等中心化穩定幣的直言不諱的批評而聞名，他們正在推動#occupyDeFi 運動，以維護行業的去中心化。

Challenging Goliath: Magic Internet Money (MIM) Emerges as a Formidable Rival to MakerDAO's DAI

挑戰巨人：神奇的網路貨幣 (MIM) 成為 MakerDAO 的 DAI 的強大競爭對手

In the rapidly evolving landscape of decentralized finance (DeFi), a new challenger has emerged to threaten the dominance of MakerDAO, the established titan of the stablecoin market. Magic Internet Money (MIM), a collateralized stablecoin issued by the Abracadabra lending protocol, has stormed onto the scene, amassing an impressive $1 billion in supply within a mere five months of its launch in May.

在去中心化金融（DeFi）快速發展的模式中，一個新的挑戰者已經出現，威脅著穩定幣市場老牌巨頭 MakerDAO 的主導地位。 Magic Internet Money (MIM) 是一種由 Abracadabra 借貸協議發行的抵押穩定幣，現已風靡一時，在 5 月推出後的短短 5 個月內就積累了令人印象深刻的 10 億美元供應量。

While this may still pale in comparison to the $5.39 billion market cap of MakerDAO's DAI stablecoin, MIM's remarkable growth trajectory has sent shockwaves through the DeFi ecosystem. Moreover, Abracadabra has already surpassed its established rival in terms of fees generated, demonstrating its rapidly expanding reach.

儘管與 MakerDAO 的 DAI 穩定幣 53.9 億美元的市值相比，這可能仍然相形見絀，但 MIM 的顯著增長軌跡已經為 DeFi 生態系統帶來了衝擊波。此外，Abracadabra 在產生的費用方面已經超過了其老牌競爭對手，這表明其覆蓋範圍正在迅速擴大。

The secret to Abracadabra's success lies in its innovative approach to collateralization. Unlike MakerDAO, which only accepts stablecoins as collateral, Abracadabra allows users to deposit a wide range of interest-bearing tokens, such as xSUSHI, which entitles holders to fees from the decentralized exchange SushiSwap. This unique feature empowers users to retain their interest-earning capabilities while simultaneously borrowing MIM against their deposited assets.

Abracadabra 成功的秘訣在於其創新的抵押方法。與僅接受穩定幣作為抵押品的 MakerDAO 不同，Abracadabra 允許用戶存入各種計息代幣，例如 xSUSHI，它使持有者有權從去中心化交易所 SushiSwap 收取費用。這項獨特的功能使用戶能夠保留其賺取利息的能力，同時用其存入的資產借入 MIM。

Another key differentiator for Abracadabra is its commitment to multi-chain deployment. While MakerDAO remains confined to the Ethereum blockchain, Abracadabra has expanded its reach to Fantom and Arbitrum, an Ethereum Layer 2 solution. This strategic move has opened up new markets and attracted a broader user base.

Abracadabra 的另一個關鍵區別是其對多鏈部署的承諾。雖然 MakerDAO 仍然局限於以太坊區塊鏈，但 Abracadabra 已將其影響範圍擴展到以太坊第 2 層解決方案 Fantom 和 Arbitrum。這項策略舉措開闢了新的市場並吸引了更廣泛的用戶群。

Furthermore, Abracadabra's generous fee structure has played a significant role in its rapid ascent. By distributing 75% of the interest payments on its loans to SPELL stakers, the upstart lending protocol shares a larger portion of its revenue with its community compared to MakerDAO's distribution of MKR rewards to its holders.

此外，Abracadabra 慷慨的收費結構對其快速崛起也發揮了重要作用。透過將 75% 的貸款利息分配給 SPELL 質押者，與 MakerDAO 向其持有者分配 MKR 獎勵相比，這個新興的借貸協議與其社區分享了更大一部分的收入。

Beyond its innovative features, Abracadabra is also driven by a deep-seated ideological divide with MakerDAO. The co-founders of Abracadabra, who remain pseudonymous, are staunch proponents of decentralized finance and are critical of MakerDAO's reliance on USDC, a centralized stablecoin backed by U.S. dollar deposits.

除了其創新功能之外，Abracadabra 還受到與 MakerDAO 根深蒂固的意識形態分歧的推動。 Abracadabra 的共同創辦人（仍使用化名）是去中心化金融的堅定支持者，並對 MakerDAO 對 USDC（一種由美元存款支持的中心化穩定幣）的依賴持批評態度。

This ideological clash has manifested itself in the form of a social media campaign dubbed #occupyDeFi, led by Abracadabra's founders. They have used this hashtag to rally support for the preservation of DeFi's decentralized principles and to criticize the perceived centralization creep within the industry.

這種意識形態衝突以由 Abracadabra 創始人領導的名為#ocpyDefi 的社交媒體運動的形式表現出來。他們利用這個標籤來爭取對 DeFi 去中心化原則的支持，並批評產業內明顯的中心化趨勢。

While the Occupy DeFi movement's long-term impact remains uncertain, it has certainly captured the attention of the DeFi community and has fueled the ongoing rivalry between Abracadabra and MakerDAO. As the newcomer continues to gain momentum, it remains to be seen whether it can dethrone the incumbent and reshape the future of decentralized finance.

雖然佔領 DeFi 運動的長期影響仍不確定，但它確實引起了 DeFi 社區的關注，並加劇了 Abracadabra 和 MakerDAO 之間的持續競爭。隨著新來者不斷獲得動力，它是否能夠取代現有者並重塑去中心化金融的未來還有待觀察。

With MIM crossing the $1 billion supply milestone, Abracadabra has undeniably gained significant traction. Its innovative approach to collateralization, multi-chain deployment, generous fee structure, and ideological alignment with the core principles of DeFi have propelled it to the forefront of the stablecoin market. As the battle between Abracadabra and MakerDAO intensifies, it is clear that the DeFi landscape is far from static, and that challengers are constantly emerging to disrupt the established order.

隨著 MIM 的供應量突破 10 億美元里程碑，Abracadabra 無疑獲得了巨大的吸引力。其創新的抵押方法、多鏈部署、慷慨的費用結構以及與 DeFi 核心原則的意識形態一致性，使其走在了穩定幣市場的最前沿。隨著 Abracadabra 和 MakerDAO 之間的戰鬥愈演愈烈，很明顯，DeFi 格局遠非一成不變，挑戰者不斷湧現，擾亂既定秩序。