MIM/3Crv Pool Ratio on Curve Is Heavily Skewed with $MIM at Over 96%

The MIM/3Crv pool ratio on Curve is heavily skewed, with $MIM currently accounting for about 96% of the pool. Previously, Autism Capital tweeted that last month during the Terra blowup, $12M of bad debt was created by Abracadabra (the protocol behind $MIM) because liquidations couldn't happen fast enough to cover the protocol's $MIM liabilities. This news was swept under the rug. Instead of paying back the bad debt out of the MIM treasury the $MIM core team decided to YOLO market buy $CRV instead. The price of $CRV has been plummeting and with the dashboard down there's no easy way of actually verifying how much bad debt is in the protocol at this point. A couple days ago, the founder of MIM, Dani, created even more bad debt by letting his SPELL position get liquidated. According to TokenInsight data, $MIM is depegged with price falling to $0.96.
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