Abracadabra proposed an emergency freeze of the CRV market liquidation to prevent a chain reaction.

BlockBeats reported on August 2nd that Abracadabra community, the issuer of algorithmic stablecoin MIM, proposed an emergency proposal to fix the price of the cauldron oracle in extreme liquidity conditions of CRV, in order to optimize the value of the DAO and avoid liquidation in chain reactions. The purpose of the proposal is to grant Abracadabra DAO the authority to replace the existing oracle responsible for pricing CRV tokens in a timely manner when chain events occur. By replacing it in a timely manner, the DAO can effectively extract and securely store CRV tokens in the warehouse, ensuring their safety and minimizing potential risks associated with chain events. This proposal has been approved in Snapshot voting, granting DAO Multisig the authority to replace the oracle at the start of the chain.