Abracadabra Proposes Winding Down MIM at Four Cents on the Dollar

Abracadabra proposes winding down its Multi-Collateral Dai (MIM) protocol by liquidating the protocol, swapping remaining collateral into ether, and paying MIM holders pro rata. The team estimates recoverable backing at around $900,000 against $21 million in bad debt.

Sources

• The Defiant — Abracadabra Proposes Winding Down MIM at Four Cents on the Dollar

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