Abracadabra Implements Emergency Measures to Revive Its Stablecoin

Abracadabra, a decentralized finance protocol, has initiated urgent strategies to counteract the depegging of its stablecoin, Magic Internet Money (MIM), which dropped significantly from its intended $1 valuation. The company’s immediate priority is to curtail the circulating supply of MIM, aiming to stabilize the market swiftly.

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