Shayne Coplan, the youngest self-made billionaire and founder of the crypto-based prediction market Polymarket, dropped a hint regarding a native token on Oct. 8.
Similar to Bitcoin, Ethereum, BNB, and SOL, even POLY could be on the charts, he hinted in a cryptic post on X.
The crypto community reacted to Coplan’s post with much enthusiasm. A popular crypto account on X, @bertcoincto, wondered, “WHAT? POLY TOKEN?”
Polymer Labs, a blockchain protocol, responded with a stunned Simpsons meme.
Founded by Coplan in 2020, Polymarket is the world’s largest prediction market. It lets traders predict events like future Bitcoin price, election results, government shutdown, Federal Reserve policy, etc., by paying with cryptocurrency.
If the POLY token gets launched, holders could potentially use it to vote in governance decisions and buy market orders on Polymarket. Given the tremendous success of the platform and the recent crypto rally, the token could even go to the moon upon launch.
$2B investment makes Coplan youngest self-made billionaire
A recent investment of up to $2 billion by the New York Stock Exchange owner, Intercontinental Exchange (NYSE:ICE), in Polymarket made Coplan, 27, the youngest self-made billionaire.
While the crypto-based platform earlier faced a long investigation and was barred from serving the U.S. market, a recent directive allowed it to again cater to the American users.
Since it sells financial contracts linked to specific events, it defies association with traditional gambling apps and thereby escapes state restrictions.
As per DeFiLlama, Polymarket has a cumulative volume of $18.8 billion in trades on the decentralized platform.
