Michael Saylor Seeks to Restart MicroStrategy’s Financing Engine; Daily Preferred Stock Dividend Proposal Poised to Pass

According to the governance page of Abracadabra, the decentralized finance (DeFi) lending platform behind the MIM stablecoin, the community has proposed a plan to orderly shut down the MIM stablecoin and the Abracadabra protocol. The proposal states that following a series of attacks, MIM is currently undercollateralized with no feasible path to restore its peg, so the protocol will gradually liquidate and distribute remaining assets. Total collateral backing MIM debt is approximately $1.2 million, of which around $300,000 sits in the Arbitrum WETH Cauldron, leaving roughly $900,000 in usable collateral for repaying MIM. Meanwhile, circulating MIM not held in protocol addresses is nearly $22 million, translating to about $21 million in bad debt for the protocol, with MIM’s effective collateral ratio below 4%. Under the proposal, the protocol will extract collateral from all cauldrons, convert it to ETH, and distribute it proportionally via the Merkl contract to borrowers and MIM holders. Borrowers will receive the value of their deposited collateral minus their MIM debt; MIM holders will share the remaining assets based on their MIM balance at the snapshot, with an estimated ~$0.04 per MIM. Additionally, the proposal notes that LayerZero V1 relays were recently deprecated, requiring fund withdrawals by December 15, putting approximately $1 million in collateral in the Stargate USDC and USDT Cauldrons at risk. The plan calls for taking snapshots of MIM balances and Cauldron/DegenBox positions after October 15, 2026; after collateral conversion, the Merkl contract will be deployed and redemptions opened. The governance vote ends on October 1, with current "yes" votes accounting for 99.48%.

According to Lookonchain’s monitoring, two wallet addresses today swapped 50.95 WBTC (worth approximately $4.26 million) for 25,502 AAVE.

Citigroup economist Kim Jin-wook said that despite a temporary slowdown in industrial production in August, South Korea’s economic growth is projected to outpace earlier forecasts. He noted that auto production was temporarily disrupted in August due to labor strikes and summer holidays, but the sector has recovered in September. Kim Jin-wook raised South Korea’s 2026 GDP growth forecast by 0.1 percentage points to 3.8%, and lifted the 2027 forecast by 0.2 percentage points to 3.3%. He attributed the upward revisions primarily to the recovery of the auto sector and robust overall manufacturing performance driven by the semiconductor industry boom. Citigroup forecasts that South Korea’s economic expansion, fueled by the chip industry, will persist through 2028. (Source: Jin10)

Hyperliquid co-founder Jeff Yan stated during Korea Blockchain Week 2026 that private markets currently constrained by access limits hold "huge opportunities". Yan noted that enabling global market participants to conduct price discovery for these assets will ultimately prove valuable for society. He added that Hyperliquid is exploring broader financial market opportunities. The platform has gradually expanded its tradable asset range step by step, venturing into areas such as prediction markets and options.

DeFi protocol Sentora has submitted an ARFC (Aave Request for Comment) proposal to operate an independently curated lending market on Aave V4. The initial deployment will be on Ethereum, supporting lending for stablecoins including RLUSD, PYUSD, and OUSD. Aave DAO will receive 50% of the instance’s revenue. The Aave DAO’s short-term governance executor retains structural ownership of the instance and holds administrative roles for all hub-and-spoke contracts, configurators, and the native AccessManager.

Whales are buying $AAVE! Two wallets swapped 50.95 $WBTC($4.26M) for 25,502 $AAVE today.