• Temporarily Unavailable

Augur (REP)

Last Updated: 05/08/2022

Official Website: https://www.augur.net/

What is Augur (REP)? 

An Ethereum-based prediction market platform will be maintained by a global network of computers thanks to Augur, a piece of software (ETH). 

A prediction market is similar to an exchange in that players wager on the results of events rather than trade assets. Without relying on a corporation to build or regulate these markets, people can create and trade "shares" that represent a piece of the value of outcomes using Augur. There is no restriction on what events can be traded, thus markets may be built to assist anticipate the outcome of everything from election outcomes to the weather. The program itself keeps an order book for each market created. 

How does Augur (REP) work?

Since Augur is based on the Ethereum blockchain, ETH, which is Ethereum's native currency, is used to purchase shares in its prediction markets. DAI, a stablecoin built on top of Ethereum, is another option for traders looking to use a less erratic asset while betting in the markets. The platform uses Ethereum smart contracts to implement all of the outcomes of the final bets, ensuring that the results are accurate and that winners are compensated. 

Augur divides its execution method into four discrete parts to simplify the user experience for placing bets on event outcomes: 

  1. Market Creation - A market for placing bets based on actual occurrences can be created by anyone. The resolution source—the location where the result will be decided—is chosen by creators, and after the market has settled, they are paid a creator fee, which is a portion of traders' gains.
  2. Market Trading - Users purchase stakes in the result of an event, and the price of these stakes varies according to the size of the bets made. 
  3. Reporting - The oracle of Augur, which pulls information from the outside world onto the blockchain, predicts the results of each occurrence. Market information is reported by journalists, and the consensus finding of all journalists is regarded as "truth." Those whose reports did not contribute to the consensus forfeit the staked REP, which is subsequently given to those whose reports did. 
  4. Settlement - Traders close out positions and collect payouts.


In 2014, Jack Peterson and Joey Krug founded Augur. The goal of Jack and Joey was to move away from the conventional centralized prediction markets and unfair judgments. Their objective was to create a market place where people could make predictions about outcomes with a reliable, unbiased judge.

With a blockchain-based decentralization of the prediction market, Augur was created to accomplish their vision by removing the possibility of self-interested behavior, corruption, and theft.


  • Augur Turbo - an implementation of Augur that uses on-chain data sources for near-immediate market and resolution data. This gives bettors and market creators access to more market data, lowers the cognitive effort by having a simplified UI, and results in significantly faster settlement times. Status: In progress. Currently integrating with on-chain data sources for markets and resolution.
  • Integrate with Layer 2s - integrating with various layer 2s on Ethereum is essential to the usefulness of the Augur platform since they provide consumers noticeably lower transaction fees, much quicker confirmation times, and they enable Augur to cater to other verticals that can be driven by lower prices. Presently in progress. The necessary subgraphs are now being deployed, synced, and updated with The Graph. 
  • Integrate with Balancer v2 - integrating Augur outcome tokens to work with Balancer v2 allows bettors and market creators to support multiple outcome AMMs and use other tokens as currency to trade for Augur outcome tokens. Status: To do. Expected work: Trade collateral for shares; trade shares for collateral; make a pool that only has shares; add LP protection logic. 
  • Add Limit Orders - limit orders in AMMs are extremely important as they allow both bettors and liquidity providers to deposit or trade without being required to monitor the price constantly. Adding limit orders makes liquidity provisioning easier and safer and give bettors tools to execute more sophisticated strategies. Status: To do. Expected work: Create in-house design for Augur's AMM implementation. 
  • Augur Website Revamp - make it easier for a user to navigate to different Augur offerings. Shifting from a "one platform for all" UX model to a "separate product verticals for separate use cases". Status: To do. Expected work: New navigation panels and widgets; usability and user testing. 
  • Bettor Tooling - simplify the betting experience considerably to increase bettor satisfaction. Status: To do. Expected work: Programmatic trades via trading bot; adding Augur outcome tokens to popularized wallets so the user can monitor their position; walkthrough to be able to learn the page's user experience quickly and seamlessly. 
  • Dispute Resolution on Layer 2 - this project backstops trade activity that takes place elsewhere when an L2 deployment or Augur Turbo oracle is insufficient by using the Augur dispute mechanism and forking. It permits the REP token to be forked in the dispute resolution process on both L1 and L2. It will also serve as the starting point for testing different approaches to implementing the Augur core oracle for market resolutions. Status: To do. Expected work: Abstracting the resolution from an Augur market in the event of a dispute, implementing a KBC (Keynesian Beauty Contest) oracle for L2 and Turbo that kicks back to the primary Augur oracle, and tests/integration work on the contract level to finalize the system 

Where to store Augur (REP) 

There are many wallets compatible with storing and holding Augur. If you are looking for a cold wallet then the leading hardware wallet providers such as Ledger and Trezor are a great choice. 

Comparably, software providers such as Exodus and Trust Wallet are also great for storing, sending and receiving REP. It is always recommended that you ensure using a secure wallet, create back-ups and store any sensitive recovery information in addition to completing your own research and due diligence into any service you are looking to use. 

Another option would be Atomic Wallet - a non-custodial decentralized wallet. Atomic Wallet connects directly to the blockchain nodes and shows the information about your balances, transaction history and everything you see in the wallet. It also allows you to perform transactions on the blockchain.

Where to Buy and Sell Augur (REP)  

You can Buy & Sell Augur (REP) by heading over to the Buy Coins page of our website. Augur (REP) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying $REP has never been easier, simply place your order and provide your wallet address. Once your payment arrives Augur (REP) will be sent directly to your wallet.

If you choose to Sell Augur (REP) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.

Augur (REP) Resources:

Website: https://www.augur.net/

Block Explorer: https://etherscan.io/

Twitter: https://twitter.com/AugurProject

Github: https://github.com/AugurProject

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence. 

We use cookies to better provide our services. By using our services, you agree toour use of cookies.