Abracadabra Mulls Closing MIM Stablecoin Protocol Amid Financial Pressures
Abracadabra is considering closing and liquidating its MIM stablecoin protocol.
According to Abracadabra, if this plan is accepted, token holders can expect to receive approximately $0.04 per token.
The team estimates a deficit of around $21 million in the collateral pool.
A LayerZero deadline of December 15th adds pressure, with approximately $1 million in funds at stake.