Abracadabra’s MIM crisis deepens as dollar peg breaks again
Abracadabra hikes Cauldron rates and pauses incentives after MIM fell near $0.50, aiming to cut supply and restore its $1 peg after a depeg.
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Abracadabra hikes Cauldron rates and pauses incentives after MIM fell near $0.50, aiming to cut supply and restore its $1 peg after a depeg.
Abracadabra's rate hike to combat MIM's depeg highlights DeFi's vulnerability to liquidity crises, impacting investor confidence and market stability. The post Abracadabra raises interest rates as MIM stablecoin depeg worsens appeared first on Crypto Briefing.
The protocol is raising interest rates across all Cauldrons to encourage debt repayment and reduce supply.