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12 May 2021

Dogecoin Fan Mark Cuban Bets $1 Million on Crypto’s Long-Term Value - Decrypt

Dogecoin Fan Mark Cuban Bets $1 Million on Crypto’s Long-Term Value - Decrypt


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After engaging in a back-and-forth Twitter debate with Peter Mallouk, president and CEO of wealth management firm Creative Management, Cuban has agreed to a pair of long-term $1 million dollar wagers that will be designed as smart contracts—one of which will be based on the performance of cryptocurrency.

Ultimately, Cuban proposed setting up a pair of bets asautomated smart contracts.

Cuban said that he willdeposit DAI into a smart contractand doyield farming for rewards, and suggested that Mallouk can advise terms for his stablecoin.

Decentralized smart contract platform UMAjumped into the fray, tweeting that it is setting up contracts for both bets should Cuban and Mallouk wish to host the wager there.

UMA has proposed smart contracts with tokens that anyone can trade and participate in, potentially creating opportunity for others who want to take the bets.

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