Abracadabra has proposed shutting down its protocol by liquidating MIM, its stablecoin. A Snapshot vote would convert remaining collateral into ether and distribute funds to MIM holders on a pro rata basis. The team estimated recoverable backing at roughly $900,000 against $21 million in bad debt. MIM holders would thus receive approximately four cents on the dollar.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
