1) FTX president2020 contracts:
The conditions for expiring them have now been met. However, we understand that some people refused to respect the rules of the contracts which have always been there.
As such, here is what we will do:
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2) We have just expired all long BIDEN/short TRUMP and TRUMPLOSE contracts and tokens to $1. We have expired WARREN, BERNIE, BLOOMBERG, and PETE to $0.
The markets on FTX for those have just been permanently closed.
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3) Some users have complained about us following the rules, and instead want us to modify the rules to favor their preferred candidate.
We have done so repeatedly, giving more and more options to those long TRUMP contracts.
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4) For instance, allowing people, in the event that TRUMP lost, to pay $0.10 to keep their contracts beyond expiration and win if TRUMP is president in February.
However, some users are still refusing to accept the consequences of their decisions and the rules of the contracts.
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5) As such, we have decided, just this once, to allow TRUMP and TRUMPWIN to be held for free until February 1st, 2021. If, by then, Trump has been unambiguously reelected to the presidency, they will pay out $1. FTX reserves the right to interpret the settlement criteria here.
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6) So we have, this once, given in to the trolls. We regret deeply doing this.
In the future, we will not do this. We will never again allow users’ baseless complaints to influence the outcome of prediction market contracts on FTX.
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Replying to
I sold trumpwin and bought trumpfeb prior to this announcement, how do I get my trumpwin back?
you can't do it as you please, it's money, not paper
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It is. you really should be compensating for this. It's absolutely not right that you are giving in to trolls, while leaving those who did stick to the rules hanging.
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wait to be clear they still have strictly more options than if we had stuck to the rules; not sure why you have to be salty that we were generous to someone else