Emergency Motion as Magic Web Cash (MIM) Depegs 50%
Decentralized finance platform Abracadabra stated Wednesday that it launched emergency measures after its crypto-collateralized stablecoin, Magic Web Cash (MIM), fell 50% under its $1 peg. “We’re aware of the MIM depeg and are taking emergency actions to treatment the state of affairs,” the crew said on Wednesday. It stated efficient instantly, it can start steadily…