Prediction Market Oracle Exploited, Bettors Claim
7 reported
According to a report from the New York Times, as cited by marginalrevolution.com, a prediction market oracle described as an elaborate Web 3.0 contraption combining cryptocurrency, voting, and game theory has been exploited. The system, created by a Manhattan-based company called Risk Labs, is billed as a “decentralized truth machine.” Dozens of bettors claim the system was gamed by a tech entrepreneur named Lancelot Chardonnet. The report details a bet known as the “Donk debate,” which unfolded over nine days. In the bet, a video broadcast on April 11 initially led bettors to believe the outcome was “no,” until someone noticed the caster, known as Dinko, had said “don’t” in a way that sounded like “Donk.” The report notes it is possible Dinko knew about the bet and said the syllable on purpose, or even placed money on the outcome.
What’s reported
The oracle is a Web 3.0 system combining cryptocurrency, voting, and game theory.
It was created by Risk Labs, a Manhattan-based company.
The system is billed as a “decentralized truth machine.”
Dozens of bettors claim the system was gamed by tech entrepreneur Lancelot Chardonnet.
The “Donk debate” bet unfolded over nine days.
A video broadcast on April 11 initially led bettors to bet “no” until someone noticed the caster, Dinko, had said “don’t” in a way that sounded like “Donk.”
It is possible Dinko knew about the bet and said the syllable on purpose, or placed money on the outcome.
Key figures
Lancelot Chardonnet, tech entrepreneur
Dinko, the caster in the video
Risk Labs, company based in Manhattan
Sources: marginalrevolution.com
