8mm accessory cord, which is really all any 8mm 'SRT rope' is, should only be used by expert cavers who understand the safety critical importance of ensuring there are absolutely no rub points in the rigging.
By 'Invincible Rope Techniques' do you mean the US Indestructible Rope Techniques (IRT), to give it its proper name? For this technique you wouldn't really want to be using anything other than at least an 11mm rope with a heavy duty sheath, and even then using suitable rope pads where there is some abrasion.
The rope above you doesn't stretch very much at all when you are only a few metres down from the anchor point so I'm not sure how the 'extra stretch' would have contributed to the rope being damaged. Every time you make a step up the rope it's going to bounce with your weight. When the 'localised abrasion' is close to an anchor point there is much more likelihood of sheath damage than when the abrasion point is 100m below the anchor point.
There was a lot of discussion and extensive testing in the rope access industry some years ago following a fatality in the offshore industry where a technician had an abrasion point close to the anchor which resulted in his rope failing catastrophically. He then fell onto his back-up line which rubbed against the same abrasion point and also failed.
I did some pretty shoddy rigging when I first got into SRT but luckily got away with it due to the ropes I was using being 11mm.
You don't really want to be learning SRT rigging on 8mm accessory cord.
You are definitely very lucky to be alive to tell your tale. I'd buy yourself some proper SRT rope and learn the importance of proper 'safe' rigging.