According to Lookonchain monitoring, 0xSifu spent $300,000 to buy the dips of 1.37 million CRV at an average price of 0.2184 USDT, and currently 0xsifu has 15 million CRV debt on UwULend. UwU Lend, a lending protocol launched by 0xSifu, the former CFO of Frog Nation, is said to be a fork of Aave, supporting the borrowing and lending of algorithmic stablecoin MIM.

The Hugging Face team is trying to speed things up with a new model called aMUSEd that can generate images in just a few seconds, faster than other competitors like Stable Diffusion, as reported by Webmaster's Home on January 5. This lightweight text-to-image model is based on Google's MUSE model and has a parameter size of about 800 million. aMUSEd can be deployed on devices such as mobile devices. Its speed comes from the way it's built. aMUSEd employs an architecture called the Masked Image Model (MIM) instead of the latent diffusion found in Stable Diffusion and other image generation models. According to the Hugging Face team, MIM reduces the inference steps, which increases the speed and explainability of the model. And its small size also makes it fast.

Jinse Finance reported that the Abracadabra community, the issuer of the algorithm Stablecoin MIM, released a new proposal AIP #13.4, which urgently freezes the CRV market liquidation. The proposal pointed out that in view of the extreme liquidity situation CRV is currently facing, Abracadabra DAO is granted the right to take over the price feed of the CRV oracle machine, that is, to freeze the liquidation of CRV. In extreme cases, abracadabra DAO takes over to avoid liquidation during the cascading period. This proposal has been passed. Jinse Finance previously reported that the Abracadabra community released a new proposal to adjust the interest rate of CRV cauldrons.

PANews reported on August 2 that the Abracadabra community, the issuer of the algorithmic stablecoin MIM, released the AIP #13.5 proposal, proposing to adjust the interest rate of CRV cauldrons. The proposal states that in view of the current large CRV risk exposure of the protocol, it is proposed to apply the collateral-based interest rate to the two CRV cauldrons. As such, the interest rate on the CRV collateral will incorporate a base rate that is determined by the sum of the outstanding principal of the two CRV cauldrons. The actual interest rate will be generated by combining the benchmark interest rate and the interest rate multiplier. The interest rate multiplier depends on the collateral ratio of the cauldrons. If the proposal is approved, all interest will be deducted directly from cauldrons’ collateral and immediately transferred to the treasury of the agreement to increase the DAO’s reserve factor. Once in the treasury, the collateral can be traded on the chain or through Abracadabra One of the off-chain partners converts to MIM. Given the current principal outstanding of $18 million, the base rate is 200%. According to this interest rate, the loan can be fully repaid within 6 months. As the principal is repaid, the base rate will decrease. If the mortgage ratio is 40%, the base rate will not change. If the mortgage ratio is 45%, then the base rate will be multiplied by 5. Based on the current principal outstanding, this means the loan will be fully repaid within 1.2 months.

On August 2, the Abracadabra community, the issuer of the algorithm Stablecoin MIM, released a new proposal to adjust the interest rate of CRV cauldrons. The proposal states that given that the protocol is currently exposed to large CRV risks, it is proposed to apply collateral-based interest rates to the two CRV cauldrons. Thus, the interest rate on CRV collateral will incorporate a base rate that is determined by the sum of the outstanding principal of the two CRV cauldrons. The actual interest rate will be generated by combining the benchmark interest rate and the interest rate multiplier. The interest rate multiplier depends on the collateral ratio of the cauldrons. The effect of this proposal is that all interest will be deducted directly from cauldrons' collateral and immediately transferred to the protocol's treasury, increasing the DAO's reserve factor, thereby reducing the DAO's risk associated with CRV-related liquidity conditions.

According to PANews news on August 1, data on the chain showed that after Justin Sun transferred 2 million USDT to the address of the founder of Curve, the founder of Curve converted 200 USDT into FRAX, repaid the debt of 2 million FRAX, and then withdrew 5 million CRVs. Since then, the founder of Curve has repaid 7.14 million FRAX debts. In addition, the founder of Curve began to return Abracadabra's loan position, repaying about 2 million MIM with 2 million USDT, and withdrawing 5 million CRV.

Odaily Planet Daily News The founder of Curve started to repay the Abracadabra agreement for the first time today, and has repaid 1.01 million MIM. Previously all repayments were made against Fraxlend.

Odaily Planet Daily News According to 0xScope monitoring, due to the Multichain vulnerability accident, MIM has been unanchored. The token is now traded on Fantom at a price of about $1.25.

According to PANews news on July 6, according to Decrypt, the multi-chain stablecoin minting platform Abracadabra Money proposed to register the management agency (DAO) of the agreement as a legal entity and register "offices, trustees and lawyers". A project team lead introduced the proposal, writing that the DAO would require "some degree of centralized legal structure." The reasons behind the proposal are "multifaceted", with intellectual property theft being the most critical issue. It further noted that many of The DAO's community members "privately paid" for basic services like domain names and server hosting, which caused some conflict in the community due to "baseless copyright claims." They want to place those responsibilities in the hands of a legal agency with an "intellectual property trustee or attorney" to "register trademarks, manage server fees, and protect the intellectual property of agreements." The team is considering crypto-friendly countries such as Malta, Switzerland, Bermuda and Singapore as possible jurisdictions for forming legal entities. According to CoinGecko data, the total market value of the stable currency MIM issued by Abracabadra Money is 85.9 million US dollars, and the collateral value is 229.37 million US dollars.

On June 1st, Abracadabra, the issuer of the algorithmic stablecoin MIM, cooperated with the interoperability protocol LayerZero to integrate MIM into a full-chain alternative token (OFT). The MIM addresses on all chains will not change during the migration process. The fees related to the cross-chain transfer of MIM are determined by Abracadabra DAO, and currently no additional fees are charged except the Gas fee.