Abracadabra's MIM stablecoin depegged to $0.48 on June 25, 2026. The protocol declared emergency measures including interest rate hikes across all Cauldrons and paused Curve bribes.

Abracadabra.money raises interest rates across all Cauldrons as MIM stablecoin drops to $0.50, a 36% decline in 24 hours, in effort to restore its dollar

Abracadabra raised interest rates after its Magic Internet Money stablecoin fell more than 50% below its $1 peg on Wednesday.