wait what, holy shit
So then one must wonder, who controls the UMA tokens?
Here’s Levine today:
2 Likes
If I’m looking at this right, the UMA token has an MC of $311M. In order to execute an attack on the system, you need over 50% of the tokens in the hands of confederates. The act of acquiring all those tokens would surely raise the MC, but it would cost at least $150M. This is a pure loss since the whole system and its tokens would be worthless if they very publicly fail to do the one thing they were designed to do.
The biggest single (obvious) Trump holder has about $10M invested.
I’m still not sure who has the tokens that control the “vote” right? Do they even need to be attacked, or just held mostly by trumpers? I would uh not at all put any money there until this is answered pretttty air tight.
The tokens are publicly traded and have a value. If you vote for something that is obviously false, your tokens are going to be worth nothing. Either the question is resolved correctly and your tokens are distributed to voters who voted correctly, or it is resolved incorrectly and UMA tokens become ~worthless.
It has to be a coordinated effort that is sure to win and can make more significantly than it would cost. Individual Trumpers can’t vote that Trump won just because they are butthurt unless they are willing to lose their tokens in the vastly more likely event that the market is resolved correctly.
…biggest wallet, right? (For non-crypto people, one person can have as many crypto wallets as they want and it’s not necessarily easily to trace wallets back to their owner)
If there’s $900M total wagered on the election there, and the token that governs it all has a market cap of $300M, like you said I think it’s not likely one could take control of enough tokens to game the whole market but the numbers are, like, within an order of magnitude of where you’d need to be for that to be plausible.
Man would this be an epic rug pull if polymarket was “stolen” in this manner. I mean not rug pull but that would be the same general feeling.
Really, if you are going to attack the market, why vote for Trump when you could make 1000:1 resolving that Kanye or AOC won?
If someone attacks the oracle it’s gonna be a nine figure investment and done by pros for a monetary gain, not by delusional Trumpers trolling.
I mean those order books are thin as hell, you couldn’t actually buy enough of those to get a 9 figure payout through outcome manipulation right?
You can buy 26k shares of AOC at .1c right now for a $26M payout. I’d imagine if you planned ahead you could get quite a bit down since anyone with a NO position can share their liquidity with other no positions and scoop up your “free” .1c.
How could there be so much volume? That “free” .01 isn’t free, bank interest is higher.
Obama admits a total lack of enthusiasm for Kamala, especially with Black Men. I think Obama will be voting for me because he doesn’t like the fact that Kamala is an extremely Low IQ Person!
( truth (lol) | raw text )
Kamala’s Border Invasion is killing the jobs of our Black and Hispanic populations. BAD NUMBERS, will only get worse!
( truth (lol) | raw text )