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The bet was resolved as 'yes' despite no official agreement, leading to suspicions of manipulation by a large UMA token holder, but Polymarket defended the UMA voting process.
TL;DR Controversial Bet Outcome: Polymarket's political bet was resolved as “Yes” on whether Trump would secure a rare earth mineral deal with Ukraine, despite no official agreement, sparking concerns over decision-making integrity.
Polymarket is under scrutiny following allegations of a governance attack involving a significant holder of Universal Market Access (UMA) tokens.
Decentralized prediction platform Polymarket is under fire amid market manipulation involving a $7M bet. Users forecasted whether Ukraine would sign a mineral deal with the United States before April. Meanwhile, the chances of “Yes” results soared intensely to 100% between 24 March and 25. The remarkable jump happened despite zero validation of the agreement.
BornTooLate.Eth has accumulated over 1.3 million UMA tokens to attack a Ukraine-themed market — but nobody has appeared to have made much money.
Multiple online community users said a $7 million Polymarket bet was unfairly influenced by a whale that held significant voting power.
Last night, a governance issue on Polymarket was reported, where a large UMA holder allegedly used last-minute voting to manipulate the system, avoid losses, and profit from an inaccurate market outcome.
Polymarket, after the contradicting resolution of the “Ukrainian Rare Earth Market'” prediction event, has announced plans with the UMA team to establish enhanced monitoring and evaluation systems to avoid such incidents again. On Tuesday, Polymarket's community users saw approximately $7 million wiped out from the event market after a large UMA holder allegedly manipulated the
Polymarket reportedly experienced a governance attack on their prediction market related to Trump's Ukrainian mineral deal due to a last-minute intervention from a whale that tipped the results in their favor.
EigenLayer, Polymarket, and UMA have announced a collaboration to research and potentially develop a next-generation oracle system, leveraging EigenLayer's infrastructure.
TL;DR EigenLayer partners with UMA and Polymarket to create a next-generation oracle system, enhancing prediction market oracles' reliability and functionality. The new oracle system leverages EigenLayer's restaking mechanism and EIGEN token, along with UMA and Polymarket's expertise, to align dispute resolutions with community consensus.
EigenLayer, Polymarket, and UMA have announced a collaboration to explore and potentially develop a next-generation oracle system. The post EigenLayer, Polymarket, and UMA Join Forces to Develop Next-Gen Oracle System appeared first on Cryptonews.
The collaboration remains in the research and development phase, with details on technical architecture and launch dates yet to be disclosed.
TL;DR Lightspark launched updates at its first Partner Summit in Los Angeles, including UMA Auth, UMA Request, and Lightspark Extend, as well as the new solution Spark. UMA is an open-source messaging standard that facilitates real-time transactions with various forms of value.
Lightspark unveils a new Bitcoin L2 and broadens the functionality of its Universal Money Address (UMA) standard with the release of UMA Extend, UMA Auth and UMA Request.
Polymarket and the UMA token might not survive a disputed US presidential election outcome, and here's why.
As we near the end of 2024, Grayscale Research has revealed an exciting list of the top 20 cryptocurrencies expected to shine in the final quarter. With six new altcoins added, including Sui (SUI) and Optimism (OP), the buzz in the crypto market is palpable.
As the cryptocurrency landscape continues to evolve, Grayscale in its recent research titled ‘Grayscale Research Insights: Crypto Sectors in Q42024' has identified six emerging assets, Sui (SUI), Bittensor (TAO), Optimism (OP), Celo (CELO), Helium (HNT), and UMA Protocol (UMA), as high-potential investments for Q4 2024.
Grayscale Research has published a new list of 20 digital assets that have high potential in the fourth quarter of the year.
Polymarket said the UMA's 'No' answer to the market betting on if Barron was involved in the DJT token was 'wrong.'
With the crypto market rising each day, the altcoins are making a strong comeback. Further, as the increased confidence amongst investors gives generous support to many exciting projects, UMA is making a comeback. With our UMA price price prediction, here's how the price trend could turn out in the coming years.
We look at UMA price prediction in the wake of a massive single-day rise of a third. What's behind the move and what's in store?
The cryptocurrency market slightly recovered on January 26 after two weeks of poor performance following the Bitcoin spot ETF approval.
The price of UMA, a Web3-centered crypto project went ballistic on Wednesday as the community welcomed the launch of Oval, a new protocol dedicated to helping decentralized lending protocol's value. In the last week, UMA price increased by a staggering 71% to $7.
