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πŸ¦ŽπŸš€ Polymarket predictors are in a pickle! πŸ₯’

Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox!

Are you ready for the final quarter of the year, Geckos?
   

As we end the summer strong, what lies in store for us in Q4?

 

In today's news:
 

  • One minute too late, or just in time? πŸ•

  • Onyx reborn πŸ“œ

 

Read on!

24h Hot Searches Worldwide πŸ”₯

Which blockchains have the most stablecoins?

  

The majority of stablecoins are issued on Ethereum and Tron. These two blockchains account for 83.9% of all stablecoins, valued at $144.4 billion. How do other blockchains stack up?

One minute too late, or just in time? πŸ•

  

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.

 

Watch this video to learn about what funding rates are, and how you can use it to gauge market sentiment.

Onyx reborn πŸ“œ
 

After suffering a devastating $3.8M hack, DeFi protocol Onyx will shut down its Ethereum lending market and refocus its efforts on relaunching its permissioned network, Onyx Core.
 

Shortly after the exploit, the team introduced the OIP-46 proposal to its governance platform, including major changes to the Onyx protocol and a reimbursement plan for affected victims.
 

The proposal has since been passed with no votes against it and is set to be executed later today.
 

Onyx will issue a revised whitepaper that highlights Onyx Core as its main product and introduces a staking feature for its native XCN token.

 

Learn about StellaSwap, the leading DEX on Polkadot that offers low-slippage trading and a full suite of DeFi features including swaps, liquidity farming, liquid staking solutions, crosschain swaps, and CEX onramps.

In Other News...

 

  • Indonesia introduces NFT stamps. Pos Indonesia, the country's postal service, will introduce its first postage stamps with digital NFTs.

     

  • Not for everyone just yet. Trump's DeFi protocol World Liberty Financial is now open for registration, but only to US-accredited investors and non-US citizens for now.
     

  • Gemini leaves the Great White North. Crypto exchange Gemini is closing all its customer accounts in Canada, leaving them with 90 days to withdraw their funds.
     

  • An exchange on the exchange. Bithumb may be looking to list on the Nasdaq stock exchange in the US and is reported to be working on an IPO that will supposedly take place in 2025.

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Whether you're a long-time subscriber or just passing by, do let us know if you like the changes and what we can improve on!

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