Abracadabra Wind-Down Vote Tops Proposal Threshold but Misses Quorum

The vote on Abracadabra DAO’s second wind-down proposal topped its alternative threshold but missed the governance space’s 3 billion Spell Token (SPELL) quorum, leaving approval disputed.

The 36-hour vote closed Oct. 15 at 6:09 a.m. ET (10:09 UTC), with 396,163,281 SPELL cast by two wallets. The proposal author’s wallet contributed 100,047,420 SPELL. A wallet labeled “Abracadabra.Money: MIM Treasury Wallet” cast the other 296,115,861.

The proposal sets its alternative threshold at 30% of a supply it describes as just over 1 billion SPELL, or about 309 million votes. It treats the result as passing under that rule, but the tally did not meet the governance space’s existing 3 billion SPELL quorum.

The plan estimates about $900,000 in recoverable collateral against roughly 22 million Magic Internet Money (MIM). It proposes distributing value estimated at about $0.04 per MIM in Wrapped Ether (WETH); that estimate is not a final redemption rate or confirmed payment.

The vote follows Abracadabra’s earlier proposal to wind down the protocol and liquidate MIM. On Oct. 21, 2026, Abracadabra’s total value locked was $4.81 million, down from a $6.425 billion peak on Jan. 5, 2022.