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Isn't this code equivalent to yours:
async def get(process, key):
 try:
 return cache[key]
 except KeyError:
 if key in events:
 await events[key].wait()
 else:
 events[key] = asyncio.Event()
 # simulates some IO to get the Key
 await asyncio.sleep(0.1)
 cache[key] = "some random value"
 event.set()
 return cache[key]
?