Abracadabra launches a vote on the bad debt repayment plan triggered by the UST collapse

ChainCatcher news, the issuer of the algorithmic stablecoin MIM, the Abracadabra community has initiated a vote on the bad debt repayment plan triggered by the UST collapse. The voting options include using treasury funds, using protocol revenue, and a combination of treasury funds and protocol revenue. The voting deadline is November 2 at 22:00.

The Abracadabra team stated that during the Terra collapse, Abracadabra's UST lending market generated approximately 12 million MIM in bad debt. As of mid-October, Abracadabra's treasury assets included 6,580,153 CRV, 996,059 USDT, 280,153 USDC, 3,300,000 yveCRV, 5,312,299 MIM tokens, and other assets worth about $300,000. (source link)