Settlement Disputes Send Five VAPE Markets to UMA Holder Vote

Five Polymarket contracts tied to Puffpaw’s VAPE token are headed to a vote by UMA token holders after the token’s fully diluted valuation (FDV) climbed to just under $400 million before falling to about $7 million.

The contracts ask whether VAPE’s FDV would exceed $50 million, $100 million, $200 million, $300 million or $400 million one day after launch. On Nov. 9, the four lower thresholds each stood at 100% probability, while the $400 million threshold stood at 0%.

After two consecutive disputes over the proposed outcomes, all five markets entered final review. Traders challenging YES payouts argued that paying them would encourage wrongdoing and similar schemes. Traders supporting YES said the contracts should follow their written terms if VAPE met the thresholds.

Puffpaw is a decentralized physical infrastructure network project on Berachain built around smart vaping devices that track smoking data and offer token rewards.

Lemniscap led its $6 million seed round in 2024, with Folius Ventures and Spartan Group also participating.

VAPE launched without centralized exchange support and with a decentralized exchange liquidity pool worth only several tens of thousands of dollars. Early users’ airdrops were subject to 156 weeks of linear vesting. UMA token holders are expected to conclude their vote Wednesday, Nov. 11.