DeFiBearishcrypto.news · 4h ago7/10
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Abracadabra’s MIM crisis deepens as dollar peg breaks again
Abracadabra protocol has responded to MIM stablecoin's collapse below $0.50 by raising Cauldron interest rates and suspending incentive programs to reduce circulating supply and restore the $1 peg. This represents another significant failure in the protocol's ability to maintain its stablecoin's stability, raising questions about the viability of its collateralized debt position model.
