Abracadabra Launches Vote on Proposal Regarding Bad Debt Repayment Plan for $UST Lending Markets

Algorithmic stablecoin $MIM's issuer Abracadabra's community launched a vote on the proposal regarding a bad debt repayment plan caused by the $UST collapse. The voting options include using Treasury Funds, using Protocol Revenue, and a combination of Protocol Revenue and Treasury Funds. The vote will end on November 2nd at 14:00 UTC.

The Abracadabra team said its $UST lending market created approximately 12 million $MIM of bad debt during the collapse of the Terra ecosystem.