Find out about Augur (REP), it’s easy!

What is Augur? 

Augur falls within the sphere of crypto projects linked to prediction markets. Augur is a protocol for the creation of prediction markets that exploits decentralised oracles. Augur also allows you to create and exchange predictive models within the platform. The software itself is able to maintain an order book for each specific market recreated. It has an interesting variety of uses: not just markets but also electoral outcomes, sports results and weather forecasts can, theoretically, be processed on Augur in order to formulate hypotheses and predictions. 

Why follow Augur? 

The native token is REP. Its uses differ slightly from the typical tokenomics of decentralised platforms. In fact, REPs are also used to compete with the opinions of other users or to exchange predictive models. Why is the Augur project worth following? “No limits. Lower fees. Global access” is their claim. Indeed, they promise fees of maximum 1.5%, place no limits on money transfers and interconnect a global market, crossing the traditional regional boundaries of centralised platforms. 

How was it created?

It was founded in 2014 by Jack Peterson and Joey Krug. The testnet was first launched two years later, in March 2016. The release itself took place in 2018, around the same time as other DeFi platforms with similar aims and technologies. Today, Augur’s point of reference for its development and roadmap is The Forecast Foundation. It boasts an active DAO and two main platforms: Sportsbook, a prediction market dedicated to sports, and Augur Turbo, the general market based on Polygon and supported by Chainlink oracles for improved performance.