March 29, 2023
Polygon News

MATIC Co-founder loses bet on Polymarket, has to Donate to Charity

Charles Hoskinson, the CEO of IOG and the creator of Cardano, has gone to Twitter to announce another contribution from which Cardano would benefit. According to one of the MATIC co-founders, Cardano will not be able to deploy the smart contracts functionality by October 1, resulting in a $20,000 bet.

As the tweet from Hoskinson reveals, Naiwal intended to uphold the wager made by the Polymarket team against Cardano to have their platform be able to execute smart contracts by October 1. While the first only risked $50,000, the co-founder of MATIC placed $20,000 on Cardano delaying the launch. However, In a Twitter post, Hoskinson said Cardano is getting a contribution on its behalf again.

The first contribution was forwarded to the charity of Hoskinson’s choice,  Magic Yarn, a nonprofit organization based in Alaska. Instead of conventional wigs that may be too harsh for their scalps, kids who are receiving chemotherapy wear delicate wigs made of acrylic yarn. Hoskinson donated to this organization, arguing that it has a “good heart.”

As per his tweet, whether Sandeep Nailwal would donate the money to the same organization as MATIC founder Hoskinson is unclear.