Markets, Polymarket, Ukraine, Prediction Markets The wager was resolved as ‘sure’ regardless of no official settlement, resulting in suspicions of manipulation by a big UMA token holder, however Polymarket defended the UMA voting course of. 

A contentious $7 million bet on prediction platform Polymarket has sparked disagreement between the Polymarket and UMA communities.

The wager, which speculated on whether or not Ukraine would comply with a mineral take care of U.S. President Donald Trump earlier than April, noticed its “yes” likelihood surge from 9% to 100% between March 24 and 25, regardless of no official settlement being reached.

Polymarket depends on UMA, an optimistic oracle system, to find out the outcomes of its prediction markets.

In this method, anybody can suggest a decision by staking a $750 USDC.e bond, which might then be challenged. If a dispute arises, UMA token holders vote to settle the matter.

In this case, the wager resolved as “yes,” main many customers to suspect manipulation by a “UMA whale” — a holder of numerous UMA tokens able to influencing the vote.

Polymarket responded by way of its Discord server, admitting the decision was sudden however denying it constituted a “market failure” that may warrant refunds.

It clarified that the market was resolved too quickly, as no deal between Ukraine and the U.S. has been confirmed, but it stood by the UMA voting course of to right the end result.

Polymarket has since turned to its neighborhood for recommendations on stopping future points, promising clearer guidelines and forthcoming updates, although it has but to element particular modifications.

Read extra: Polymarket Suffers UMA Governance Attack After Rogue Actor Becomes Top-5 Token Staker

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