MIM vs USDZ
Magic Internet Money and Anzen USDz, compared on the things that decide whether you get your dollar back. Live data, updated continuously.
30-day peg gap and MIM/USDZ spread
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Magic Internet Money is a dollar-denominated token tracked across 8 chains. No verified issuer disclosure is on file, so its collateral and legal structure score conservatively.
Verdict band: Caution
Anzen USDz is a dollar-denominated token tracked across 4 chains. No verified issuer disclosure is on file, so its collateral and legal structure score conservatively.
Verdict band: Caution
| Safety scoreComposite of collateral, peg, liquidity, issuer and track record. | ●●●●●5 of 5 | 49 | 45 | MIM |
|---|---|---|---|---|
| Collateral qualityWhat actually backs the token, and how liquid that backing is. | ●●●●●5 of 5 | 55 | 55 | Tie |
| Exit liquidityWhether you can leave at size without moving the price. | ●●●●●5 of 5 | $1.04M | $492.1K | MIM |
| Issuer & legal standingRegulatory perimeter, disclosure quality and redemption rights. | ●●●●4 of 5 | 48 | 48 | Tie |
| Peg tightness (live)Absolute distance from $1.00 right now — smaller is better. | ●●●●4 of 5 | −96.739% | −8.673% | USDZ |
| Worst recorded depegHow badly the token has broken before, as a stress precedent. | ●●●●4 of 5 | None recorded | None recorded | Tie |
| Track recordYears live and behaviour through past stress events. | ●●●●4 of 5 | 53 | 53 | Tie |
| Scale / market capBigger float usually means broader venue support and tighter spreads. | ●●●3 of 5 | $958.9K | $7.34M | USDZ |
| Chain reachNumber of networks where the token is natively deployed. | ●●●3 of 5 | 8 chains | 4 chains | MIM |
| Best available yieldUpside — but every extra point above T-bills is paid for with risk. | ●●2 of 5 | None | None | Tie |
"Matters" is our weighting of how much each dimension typically drives a real allocation decision. Sort any column to re-rank the tradeoffs by what matters to you.
The short answer
MIM scores higher on safety (49 vs 45), driven mainly by collateral quality and disclosure. MIM has deeper tracked liquidity ($1.04M), which is what determines whether you can exit at size.
If both are fiat-reserve tokens, note that holding both is not diversification: they share the same short-dated Treasury and banking exposure. Genuine diversification means mixing collateral structures.
Which one fits your goal: MIM or USDZ?
Capital preservation over everything else.
For park cash safely, USDZ is the better fit over MIM.
- Safety score 45 vs 49, with collateral rated 55/100.
- Current peg deviation -8.673% against -96.739% for MIM.
- No material depeg recorded for USDZ in our incident log.
Concentrating in one issuer is a single point of failure regardless of score. Split across collateral structures.
Key risks, side by side
MIM
- Collateral volatility: a fast drawdown in backing assets can force liquidations.
- No depeg recorded in our incident log — absence of history is not a guarantee.
- Limited public attestation of reserves.
USDZ
- Issuer and banking risk: reserves sit with Undisclosed under Not documented rules.
- No depeg recorded in our incident log — absence of history is not a guarantee.
- Limited public attestation of reserves.
- Chain concentration: 83% of supply sits on Base.
| Metric | MIM | USDZ |
|---|---|---|
| Category | Stablecoin | Stablecoin |
| Issuer | Undisclosed | Undisclosed |
| Jurisdiction | Not documented | Not documented |
| Collateral | crypto-backed | fiat-backed |
| Peg mechanism | crypto-backed | fiat-backed |
| Attestation | none | none |
| Redemption | market-only | market-only |
| Price | $0.0326 | $0.9133 |
| Peg deviation | −96.739% | −8.673% |
| Market cap | $958.9K | $7.34M |
| 7d supply change | −0.00% | 0.00% |
| Liquidity | $1.04M | $492.1K |
| Best yield | None | None |
| Chains | 8 | 4 |
| Launched | — | — |
| Worst recorded depeg | None recorded | None recorded |
Spread, peg gap and switching cost
- Price spread (MIM vs USDZ)
- -9643.0 bps
- $0.0326 vs $0.9133
- Peg deviation gap
- 88.066 pp
- MIM −96.739% · USDZ −8.673%
- Yield spread
- +0.00%
- MIM — · USDZ —
- Liquidity ratio
- 2.11×
- $1.04M vs $492.1K
A round trip between MIM and USDZ costs roughly the market spread plus venue fees. At 9643.0 bps of price gap, swapping $1M implies about $964.3K of price impact before fees — usually only worth it if the peg gap or yield spread is durable, not intraday noise.
Chain coverage
MIM is live on 8 chains, USDZ on 4. 2 chains carry both, so bridging is only unavoidable for the 8 networks where just one of them is deployed.
| Chain | MIM | USDZ | Both available |
|---|---|---|---|
| — | $6.11M | USDZ only | |
| $424.1K | $736.1K | Yes | |
| — | $456.8K | USDZ only | |
| $194.9K | — | MIM only | |
| $178.3K | — | MIM only | |
| $39.6K | $37.0K | Yes | |
| $60.4K | — | MIM only | |
| $56.1K | — | MIM only | |
| $2.3K | — | MIM only | |
| $1.8K | — | MIM only |
MIM vs USDZ: frequently asked questions
Is MIM or USDZ safer?
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On our composite safety score MIM rates 49/100 versus 45/100 for USDZ. The score weighs collateral quality (crypto-backed vs fiat-backed), redemption rights, attestation quality, peg history and liquidity depth. A higher score is not a guarantee: both remain issuer-credit and smart-contract exposures, not insured bank deposits.
What is the difference between MIM and USDZ?
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Magic Internet Money is issued by Undisclosed (Not documented), backed by crypto-backed, with redemption terms: market-only. Anzen USDz is issued by Undisclosed (Not documented), backed by fiat-backed, with redemption terms: market-only. Attestation coverage is "none" for MIM and "none" for USDZ.
Which has the bigger market cap, MIM or USDZ?
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USDZ is larger at $7.34M in circulating supply, against $958.9K for the other. Over the last 7 days supply moved −0.00% for MIM and 0.00% for USDZ.
Are MIM and USDZ trading at $1.00 right now?
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MIM trades at $0.0326 (−96.739% off peg) and USDZ at $0.9133 (−8.673% off peg). The gap between the two is about 9643.0 basis points, which is the cost you pay when rotating size between them before fees.
Has MIM or USDZ ever depegged?
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MIM: no material depeg recorded in our incident set. USDZ: no material depeg recorded in our incident set. Past peg behaviour under stress is the single best available proxy for how a token trades in the next crisis.
Which is better for large institutional size, MIM or USDZ?
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For block size the constraint is exit liquidity and primary redemption, not headline supply. MIM shows deeper on-chain liquidity at $1.04M versus $492.1K. Combine that with the redemption channel — MIM: market-only; USDZ: market-only — and size trades against the primary window rather than the order book where possible.
Can I earn yield on MIM or USDZ?
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Neither MIM nor USDZ currently has a tracked yield venue in our dataset. Holding either in a wallet pays nothing; any advertised rate comes from lending or liquidity provision on top, with its own risk.
Which chains support both MIM and USDZ?
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Both are deployed on 2 shared networks, including Ethereum, Blast. MIM spans 8 chains in total and USDZ spans 4. Bridged supply on a chain is not the same as natively issued supply, and it usually carries the bridge's risk rather than the issuer's.
What does it cost to switch from MIM to USDZ?
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Budget three components: the current price spread of roughly 9643.0 bps, swap or venue fees, and slippage against available depth ($1.04M for MIM, $492.1K for USDZ). For meaningful size, redeeming with the issuer and minting the other side is often cheaper than a secondary-market swap.
Is MIM or USDZ regulated?
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MIM is issued from Not documented with none; USDZ is issued from Not documented with none. Regulatory status varies by your own jurisdiction and by whether the token is offered under a specific stablecoin regime, so treat this as a starting point for diligence, not legal advice.