MIM has de-pegged to $0.5 again, I know this script well.

View Original
CoinNetwork
Coin World News, Abracadabra's dollar-pegged stablecoin MIM has depegged again, with the price sharply falling to $0.50. In response to this crisis, Abracadabra has initiated emergency measures, planning to increase interest rates across all lending markets (Cauldrons) to reduce the circulating supply of MIM. The team stated that they will immediately begin gradually raising interest rates to encourage borrowers to repay their debts as soon as possible. The current depegging phenomenon provides borrowers with a "natural incentive" to repay debts at a discounted price. Abracadabra also said that direct incentives and Curve rewards will be suspended until MIM regains its peg.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned