Abracadabra announced emergency measures after MIM stablecoin fell to $0.50 from its $1 peg

🚨 $MIM lost its dollar peg and is trading around $0.50, prompting Abracadabra to launch emergency actions. 💸 Abracadabra raised borrowing costs and suspended liquidity rewards to cut the supply in $MIM and stabilize the market. 🛡️ The protocol previously suffered a $13 million security loss and added $100,000 in support to Curve pools, but this was not enough to hold the peg. Continue Reading:Abracadabra announced emergency measures after MIM stablecoin fell to $0.50 from its $1 peg The post Abracadabra announced emergency measures after MIM stablecoin fell to $0.50 from its $1 peg appeared first on COINTURK NEWS.