CoinScoopAbracadabra Proposes Protocol Shutdown Amid $21 Million MIM Bad Debt
Abracadabra governance is considering an orderly termination of the SPELL protocol due to approximately $21 million in bad debt within the MIM stablecoin system. The proposal suggests liquidating recoverable collateral and distributing the proceeds to borrowers and MIM holders before the final shutdown.
Summaries are written by AI from the original article. Not investment advice.