Augur combines the magic of prediction markets with the power of a decentralized network to create a stunningly accurate forecasting tool.
Reputation (REP) is the token behind Augur, and can be thought of as the ‘score’ of an individual participant within Augur.
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We couldn’t be more excited for Version 2, a comprehensive suite of improvements to Augur and the first major upgrade to the platform. We recently announced the big news that V2 code is complete and now ready for formal audits.
Since day one of Augur’s first release last July, we have compiled improvements to the protocol from users, bug reports, internal discussion, and observation of Augur in the wild. We commenced work on V2 a few months ago, and contracts are now ready for the first round of audits with integration work in progress with the rest of the Augur platform.
We look forward to soon publishing more in-depth write-ups on some of the new features. If you want more specifics on anything mentioned here, feel free to check out our code on Github or contact us on Discord.
REP token is an ERC-20 token, it’s the native cryptocurrency of the Augur platform.
The Augur platform is a decentralized prediction market.
Users place their bets using ETH on the Augur platform.
You can place a bet on real-world events like sports matches, elections or you can ask a question. Augur will then place the bet or question to other users on the platform referred to as ‘crowd’.
The answer pumped out by the crowd is mostly accurate.
At times, it has even outperformed expert predictions for an outcome.
The users who make correct predictions are awarded more than they had bet while the losers aren’t awarded at all.
The wisdom of the crowd is used to predict the outcome of everything from natural phenomenon to market movements and even sports.
Augur’s Reputation token (REP) is an Ethereum token designed for reporting and disputing the outcome of events on online prediction markets. Reporters are rewarded for reporting the outcome of events correctly.
Amidst a slight market recovery, Augur and Synthetix Network post gains that are anything but small.
The prediction market is booming.
Let your REP work for you.
Use Augur REP as collateral for an instant cash loan up to €30,000.
Hedge and leverage your crypto assets without having to sell your crypto. Alternatively, users can buy or sell Augur’s ERC20 tokens with a credit/debit card and convert REP to any crypto/fiat on the platform.
YouHodler always adds features based on client demand. That’s why we were thrilled to hear from so many Augur fans pushing for a REP loan option. Augur is an incredibly innovative use of blockchain technology and uses the network to create a decentralized, p2P, trustless and open source oracle and prediction market platform. The potential for this project generates a lot of attention.
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The outcomes of Augur’s prediction markets are chosen by users that hold Augur’s native Reputation (REP) token, who stake their tokens on the actual observed outcome and, in return, receive settlement fees from the markets. Augur’s incentive structure is designed to ensure that honest, accurate reporting of outcomes is always the most profitable option for REP token holders. Token holders can post progressively-larger REP bonds to dispute proposed market outcomes.