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    MIM + Its Peg

    In this dashboard, we will take a look at pegging(😈) of $MIM and other stablecoins. One of the main performance index for a stablecoins is its "peg-ness" to the fiat USD 1:1 so the price of stablecoins has to be as close as possible to 1. However, we have seen many drama regarding $MIM, Abracadabra and its founder, Daniele Sesta which has seen people dumping their $MIM for other coins. This sudden volume inflow/outflow will cause the price to peg.

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    We can see that starting January 26th the price of $MIM has start to destabilize and the next day it dropped to 0.972:1 for $MIM:$USD. This graph queried from hourly price. However since that initial drop, $MIM has regained it's peg again. Other than $MIM, $UST also seem to have affected to some extent from $MIM shock but $UST regains the peg few hours later.

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    by percentage.

    $MIM as a model was to be minted when collateral yield bearing asset are provided however for $MIM to maintain its peg, it simply relies on swaps arbitrage which may cause problem when people no longer wants $MIM.