MIM issuer Abracadabra launches vote on bad-debt repayment plan triggered by UST crash

BlockBeats, November 1, algorithmic Stablecoin MIM issuer Abracadabra initiated a community vote to start the bad debt repayment plan triggered by the UST crash, including three options: use of Treasury funds, use of agreement revenue, combined use of Treasury funds and agreement revenue. Voting closes at 22:00 on 2 November. During the Terra crash, Abracadabra's UST lending market generated about MIM 12 million in bad debt, according to the Abracadabra team. Abracadabra Vault assets include 6,580,153 CRV, 996,059 USDT, 280,153 USDC, 3,300,000 yveCRV, 5,312,299 MIM tokens, and other assets of approximately $300,000 (as of 10 Mid-month).