MIM Stablecoin Slips From Peg As Abracadabra Liquidity Stress Returns
Magic Internet Money has slipped from its dollar peg again, putting Abracadabra liquidity and Curve pool balance back under pressure.
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Magic Internet Money has slipped from its dollar peg again, putting Abracadabra liquidity and Curve pool balance back under pressure.
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.