Abracadabra Launches Vote on Bad Debt Repayment Plan Inspired by UST Crash

The Abracadabra community, the issuer of the algorithmic stablecoin MIM, launched a vote on the bad debt repayment plan triggered by the UST crash. The voting options include three options: using treasury funds, using protocol revenue, and using a combination of treasury funds and protocol revenue. The deadline for voting is 22:00 on November 2. According to the Abracadabra team, during the Terra crash, Abracadabra’s UST lending market generated approximately 12 million MIM of bad debt. Abracadabra vault assets include 6,580,153 CRV, 996,059 USDT, 280,153 USDC, 3,300,000 yveCRV, 5,312,299 MIM Token and other assets of about 300,000 USD (as of mid-October).