One minute too late, or just in time? π Although most users today would be happy to finally trade their EIGEN token airdrop, some Polymarket bettors may be livid. Traders betting that the EIGEN token could be transferred by 30th September at 8.59 PM Pacific Time were dealt a massive blow after the Eigen Foundation announced that the unlock would happen on the same date but at 9 PM, just one minute past the prediction market's settlement time. The odds of the prediction market resolving in a 'Yes' fell from a high of 97% to just 3%, causing the price of the associated outcome to fall from $0.97 to $0.03. However, in a twist of fate, on-chain activity showed that the unlock transaction was initiated at 11.35 PM, 24 minutes earlier than the time stated by the Eigen Foundation. As such, the price of the 'Yes' outcome rebounded from $0.03 back to $0.95 as of the time of writing. Although proposers have leaned towards a 'Yes' on two counts, the market's resolution is still in dispute and is currently in a final review for the next 2 days. Editor's Note: It's quite clear that disputes like this will become commonplace in the future, and additional terms and clarifications are required to ensure that there are fewer misunderstandings and predictions that can be properly resolved without much argument. On another note, as prediction markets continue to attract more attention, it could very well incentivize a form of insider trading, where the team can easily place their own predictions and manipulate token launches and airdrop timings to their benefit. |
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