Stablecoin MIM depegs to around $0.5, Abracadabra initiates emergency measures
ChainCatcher news, Abracadabra Finance stated that it is aware of the MIM stablecoin depegging issue and is taking emergency measures. Starting immediately, it will gradually raise interest rates on all Cauldrons (including deprecated markets) to encourage debt repayment and reduce the circulating supply of MIM. The current depeg naturally incentivizes borrowers to repay their debts at a discount, which helps accelerate supply contraction. Until MIM regains its peg, direct incentives and Curve bribes will be suspended. The team said it is evaluating additional recovery plans and will announce them in due course.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Treasury sell-off triggers massive waves in global bond markets! Global average yields approach the 4% threshold, Japan's 10-year hits a 30-year high
On Thursday, the global government bond sell-off intensified, pushing the average yield close to 4%, a level not seen since 2007.
Honda (HMC.US) firmly pursues the "ditch electric for hybrid" strategy, plans to invest $2.5 billion to build a new hybrid car factory in the US
Honda plans to build a new hybrid vehicle manufacturing plant in Ohio, USA.
Crypto prices
More
