2 months ago
A contentious $7 cardinal bet connected prediction level Polymarket has sparked disagreement betwixt the Polymarket and UMA communities.
The bet, which speculated connected whether Ukraine would hold to a mineral woody with U.S. President Donald Trump earlier April, saw its "yes" probability surge from 9% to 100% betwixt March 24 and 25, contempt nary authoritative statement being reached.
Polymarket relies connected UMA, an optimistic oracle system, to find the outcomes of its prediction markets.
In this system, anyone tin suggest a solution by staking a $750 USDC.e bond, which tin past beryllium challenged. If a quality arises, UMA token holders ballot to settee the matter.
In this case, the stake resolved arsenic "yes," starring galore users to fishy manipulation by a "UMA whale" — a holder of a ample fig of UMA tokens susceptible of influencing the vote.
Polymarket responded via its Discord server, admitting the solution was unexpected but denying it constituted a "market failure" that would warrant refunds.
It clarified that the marketplace was resolved excessively soon, arsenic nary woody betwixt Ukraine and the U.S. has been confirmed, yet it stood by the UMA voting process to close the outcome.
Polymarket has since turned to its assemblage for suggestions connected preventing aboriginal issues, promising clearer rules and forthcoming updates, though it has yet to item circumstantial changes.
Read more: Polymarket Suffers UMA Governance Attack After Rogue Actor Becomes Top-5 Token Staker
English (US) 