{"id":619426,"date":"2026-06-25T03:52:44","date_gmt":"2026-06-25T03:52:44","guid":{"rendered":"https:\/\/e-bitco.in\/index.php\/2026\/06\/25\/abracadabra-takes-emergency-action-as-mim-stablecoin-depeg-worsens\/"},"modified":"2026-06-25T03:52:44","modified_gmt":"2026-06-25T03:52:44","slug":"abracadabra-takes-emergency-action-as-mim-stablecoin-depeg-worsens","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2026\/06\/25\/abracadabra-takes-emergency-action-as-mim-stablecoin-depeg-worsens\/","title":{"rendered":"Abracadabra takes emergency action as MIM stablecoin depeg worsens"},"content":{"rendered":"<p>The protocol is raising interest rates across all Cauldrons to encourage debt repayment and reduce supply. <\/p>\n<p>Decentralized finance platform Abracadabra said Wednesday that it launched emergency measures after its crypto-collateralized stablecoin, Magic Internet Money (MIM), fell 50% below its $1 peg.<\/p>\n<p>\u201cWe\u2019re acutely aware of the MIM depeg and are taking emergency actions to remedy the situation,\u201d the team said on Wednesday.<\/p>\n<p>It said effective immediately, it will begin gradually \u201cincreasing interest rates across all Cauldrons, including deprecated markets, to encourage debt repayment and reduce the outstanding MIM supply.\u201d<\/p>\n<p><a href=\"https:\/\/cointelegraph.com\/news\/abracadabra-takes-emergency-measures-as-magic-internet-money-depeg-worsens?utm_source=rss&amp;utm_medium=rss_feed_medium&amp;utm_campaign=rss_feed_medium\">Read more<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>The protocol is raising interest rates across all Cauldrons to encourage debt repayment and reduce supply. Decentralized finance platform Abracadabra said Wednesday that it launched emergency measures after its crypto-collateralized stablecoin, Magic Internet Money (MIM), fell 50% below its $1 peg. \u201cWe\u2019re acutely aware of the MIM depeg and are taking emergency actions to remedy [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":619427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":{"0":"post-619426","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-blockchain"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/619426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=619426"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/619426\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/619427"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=619426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=619426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=619426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}