Polymarket is caught in another controversy about the UMA interpretation, a decentralized Oracle that uses token holders to vote to resolve the forecast market.
UMA – an agreement with a separate entity in the multi-market market – is no stranger to disputes, Ruled With explanation Polmarket disagrees.
This time, this is about Ukrainian President Vodimir Zelenskyy’s Clothing: Asked about Polmarket Bettors If a typical leisure leader will appear in the lawsuit by July.
On June 25, Zelenskyy wore a piece by BBC,,,,, New York Postand others as suits. However, the market will address the “no”, which has caused anger at those who have lost their bets A $200 million market.
“Uma’s voting incentives encourage people to vote with perceived majority to avoid punishment rather than based on facts right,” remember. “This creates mature conditions for manipulation.”
remember It is a well-known multi-market bet Made $300,000 Predict Zohran Mamdani’s frustrated victory in the New York mayoral primary by identifying key flaws in the voting data and bets against traditional wisdom. Between his multiple accountshis victory received more than $1 million.
In Uma’s dispute resolution system, voter equity token participation determines market outcomes. Those who oppose the final consensus face a penalty called “cutting” where it was confiscated or reduced a portion of the fixed token.
This economic punishment structure prompts voters to align their choices with expected majority opinions, even if it contradicts their true interpretation of the correctness of the facts.
“A person who has millions of tokens and determines millions of dollars in results is not decentralized,” he said, referring to Uma’s largest whales, which have a share of control tokens and sometimes cut the votes against them.
On-chain data displayed on-chain parsed That 95% of UMA tokens are Holded by large holders. For comparison, it’s over Half of ETH tokens Holded by large holders.
“This undermines the entire point of using prediction markets to find the truth,” the trader continued.
Rememamalek publicly acknowledged the fundamental facts of betting on UMA resolutions rather than markets when reflecting on its strategy.
“Polmoarket and Uma need to rethink their resolution mechanism immediately,” he said. “Every major dispute will hurt user trust, especially the smaller bettors who suffer from scammers and leave.”
What is the solution in his eyes? Ironically centralization.
But it did it professionally and transparently. by Polymarket itself, not some external protocol.
Because now, “it’s not dispersed,” he concluded.
Read more: There is a $160 million controversy over whether Zelenskyy wears suits in NATO
