Saber Launches First Magic Internet Money Stable Pools on Solana with Allbridge

Saber is excited to bring Magic Internet Money to Solana! Magic Internet Money is a decenttralized stablecoin offered by the project, a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD pegged stablecoin (Magic Internet Money — MIM), that can be used as any other traditional stablecoin.

The new pools pair MIM / UST and MIM / CASH. SBR rewards will go live for the pools within 1 hour! To bridge these assets, head to Allbridge and select Ethereum as the source chain (this version of MIM originates on Ethereum).

Saber is the leading cross-chain AMM for pegged assets on Solana, such as stablecoins and wrapped assets. As Solana’s core cross-chain liquidity network, Saber helps facilitate the transfer of assets between Solana and other blockchains. Users deposit crypto into a Saber liquidity pool to earn passive yield from transaction fees, token-based incentives, and eventually automated DeFi strategies.

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Allbridge is modular and expanding token bridge with on-chain consensus. It’s a simple, modern, and reliable way to transfer assets between blockchain networks. Allbridge mission is to make the blockchain world borderless and provide a tool to freely move assets between different networks. In the future it will evolve into a DAO-style multi-chain hub, establishing connections between the EVM and non-EVM networks.

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The post Saber Launches First Magic Internet Money Stable Pools on Solana with Allbridge appeared first on Soltimes.

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