The new way of playing people for suckers in the crypto world on Polymarket

Author: BroLeon from Australia; Source: X, @BroLeonAus

Yesterday, an interesting gameplay appeared on Polymarket. Did you think project teams could only rely on issuing tokens to make money? No, they have evolved to the point where they can harvest profits on Polymarket even before the project tokens are released.

The specific situation is as follows: Someone has specifically opened a betting market on Polymarket regarding how much funding the new project Solomon on MetaDAO will eventually raise.

This Solomon project has gained some exposure in the Chinese community because the fearless exposure of its founder as a wanted fraudster from Zkcasino, but overall, it is not very popular.

But after the Polymarket prediction market came out, it attracted quite a few people to place small bets because it was relatively new. For example, @liangfenxiaodao said that even raising 40M would be quite exaggerated.

Especially shortly after the start, it seemed that someone targeted the MetaDAO official with a DDoS attack, making it impossible to log in for a while. Everyone analyzed that someone deliberately carried out a DDoS to win; as long as no one could deposit money, it seemed to be a way of making money.

At the end, it seemed that most people thought they could raise at most 40 million. But then something outrageous happened: someone rushed in with 100 million U just one hour before the public offering ended, directly wiping out most of the people who bought No, including Brother Knife.

I can't think of anyone besides the project team who could spend such a large amount of money.

This is the highest public fundraising record in the history of MetaDAO, ultimately exceeding 102 million. But more importantly, they have developed a new harvesting method that is much safer than blowing short positions on Perp. Only with enough bullets in your pocket can you decide where to explode completely.

In the future, if the liquidity on Polymarket is good enough, project teams can really lose money on their projects while making money from PM, as long as the hype is sufficient.

I still have to admire that some people's minds are indeed quite agile. Polymarket and other prediction markets should see more innovative gameplay in the future, which is worth looking forward to.