P2P Protocol team responds to large bets by a Polymarket account with the same name: Neither confirming nor denying account ownership, but denying insider trading
BlockBeats news, on March 27, the P2P Protocol team responded to the FUD caused by large predictions from the "P2PTeam" account on Polymarket: they neither confirm nor deny whether the account belongs to the team or related parties. Only 10 days after the IC0 announcement, this account used 20,000 USDC to buy a large number of "Yes" shares for public fundraising commitments exceeding 6 million, 8 million, and 10 million dollars respectively. However, most VC pre-commitments were only finalized 4-5 days ago, and the VCs publicly announced their participation, with transparent information.
The P2P Protocol team pointed out that predicting with 20,000 dollars in a high-volume market carries a potential profit of only about 30,000 dollars, and this does not constitute market manipulation or insider trading, but is merely an early "belief" bet and entertainment. The account name "P2P Team" may have been chosen deliberately, intended to play with users who have a short-term mindset.
MetaDAO launched the IC0 for P2Pdotme on March 26, with a minimum fundraising target of 6 million dollars. So far, 5.3 million dollars have been raised, and the fundraising will end on March 30. According to monitoring, on the Polymarket prediction market, the probability that P2P Protocol’s public fundraising commitments will exceed 6 million dollars has reached 100%, and the probability of exceeding 8 million dollars is currently reported at 97%.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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