Ethereum update: How to participate in FoMo3D with a known security vulnerability (by hedging with Augur!)
[This Augur market](https://augur.casino/id=0x4ce1f159b8e2ed4f32684b16f933e2273f09513b) will resolve as YES if Team JUST can address the vulnerabilities mentioned in [https://medium.com/@epheph/what-fomo3ds-real-exit-scam-might-look-like-ac5794f72099](https://medium.com/@epheph/what-fomo3ds-real-exit-scam-might-look-like-ac5794f72099) by the end of the month. If they plan on actually fixing the bugs, they can make some easy money by buying the 8.1 ETH worth of YES shares that I have “donated” to the “FoMo3D fix your bugs” fund, fixing their bug, then taking home 9 ETH (~10% ROI for them). They can also help other users hedge against them not fixing the bug, if they are confident they will fix it in time.
How does this help FoMo3D users you ask? Well, it is simple. If you want to buy 1 ETH worth of keys but think that is money thrown down the drain if they don’t fix the bug, then you need to create a 1 ETH hedge such that if they _don’t_ fix their bug you will earn 1 ETH on the Augur market. To do this, you will want to sell ~1.2 shares at a price of 0.9 ETH. This will cost you ~0.12 ETH. Then *wait* for someone to take your order! If FoMo3D is planning on patching their system they can make easy money by taking your order. Once that happens, go buy your 1 ETH worth of keys.
Possible outcomes:
1. FoMo3D is patched, the market resolves as YES. You will have 1 ETH worth of keys in a secure game. Your NO shares on Augur will expire worthless, thus costing you 0.12 ETH.
2. FoMo3D is not patched, the market resolves as NO. You will have 1 ETH of worthless keys in an insecure game. Your NO shares on Augur will become worth 1.2 ETH, covering both your wasted FoMo3D key purchase costs and the 0.12 ETH cost of your Augur position.
About Ethereum
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
Author: MicahZoltu
Score: 6
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