Abracadabra has proposed to wind down the MIM protocol, which would liquidate its remaining collateral and convert it into Ether (ETH) to pay MIM holders. The proposal estimates about $900,000 in recoverable assets against $21 million in bad debt, implying holders would receive roughly 4% of their holdings if the plan is approved. This payout reflects the recovered collateral value rather than the original token value. The plan is pending a Snapshot vote, which will decide if the liquidation and distribution proceed.
Abracadabra's proposal to wind down the MIM protocol could leave holders with about 4% of their holdings. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Sep 30, 2026 09:02 WIB: out of 50 major cryptocurrencies, 39 rose and 10 fell today. Notable movers include SNX at Rp4.590 with a 5.30% increase and 99% buy order activity, DOT at Rp21.795 with a 4.91% rise and 57% buy orders, and SAND at Rp793 with a 4.05% gain and 60% buy orders.
Brazil's Central Securities Depository, CSD BR, which manages over BRL 22 trillion in assets, has partnered with Ripple to mirror securities ownership data on the XRP Ledger. This integration involves real fund shares from BTG Pactual, a leading Lati...
Magic Internet Money (MIM), a once-popular DeFi stablecoin from Abracadabra, has lost over 95% of its $1 peg, trading around 4.46 cents as of September 2026. After a sharp decline starting mid-2026 and failed stabilization efforts, Abracadabra now pr...
Apollo Minerals Limited has officially listed on the Euronext Growth Paris Exchange, marked by a bell-ringing ceremony attended by key French and Australian officials. This move strengthens Apollo's presence in Europe as it advances the Couflens high...
Brazil's central securities depository, CSD BR, has partnered with Ripple to integrate the XRP Ledger blockchain into its financial infrastructure, tokenizing investment fund shares worth over BRL 22 trillion. This initiative aims to enhance transpar...
Solana (SOL) surged past the $120 mark, reaching $120.01 late Tuesday with a 2.63% increase over the previous 24 hours. This price movement highlights renewed investor interest and momentum in the token. Market watchers are closely monitoring SOL as ...
