Woofun AI reports that Abracadabra Finance has implemented emergency protocols following the MIM stablecoin's depeg to $0.5027. The protocol is incrementally raising interest rates across all Cauldrons, including deprecated markets, to incentivize debt repayment and contract circulating supply. Direct incentives and Curve bribes remain suspended until the peg stabilizes. MIM currently trades at $0.5027, reflecting a 36.65% decline over the past 24 hours.