Decentralized Predictive Betting Market Platform Augur Releases Version 2
Decentralized Predictive Betting Market Platform Augur Releases Version 2
July 29, 2020
Decentralized Predictive Betting Market Platform Augur Releases Version 2
Decentralized Predictive Betting Market Platform Augur Releases Version 2
July 29, 2020

Decentralized predictive betting market platform Augur (REP) has announced the deployment of its v2 upgrade.

The upgrade is intended to address bugs and vulnerabilities identified with the existing platform and its rules surrounding betting markets.

It also intends to introduce support for the Dai stablecoin and other popular DeFi protocols, and to institute an affiliate program.

On July 29, Augur revealed that its v2 protocol contracts had been deployed on the Ethereum Mainnet and verified on Etherscan.

In a statement the project noted that:

“exchanges, wallet providers, block explorers, and additional services will be updating to the REPv2 contract address over the coming day.” 

Augur’s v2 upgrade comes five years after the project’s launch in 2015.

The new version has adapted to developments emerging from the decentralized finance (DeFi) ecosystem and supports:

  • MakerDAO’s (MKR) Dai stablecoin
  • 0x’s (ZRX) Mesh network
  • Uniswap’s v2 oracle network
  • Interplanetary File System (IPFS).
ALSO READ :  National Bank of Cambodia Reveals Technical Details of its Upcoming Blockchain-Based Payments System

The update will also include ‘invalid’ as a predictable outcome for events.

The team is seeking to prevent opportunistic users gaming the protocol’s previous resolution system surrounding invalidated markets.

The team is also urging users to let the operators of Augur-native services that have not yet updated, know about the overhaul.

The update requires REP holders to manually migrate their tokens to the new REPv2 token via Augur client to participate in the protocol’s reporting.

Augur is also keeping a close eye on custodial exchanges regarding the platforms’ various plans for token migration.

However, the announcement notes that:

“there is no immediate requirement to migrate REP to the new REPv2..The only time in which migration from REP to REPv2 would become a necessity is if an Augur v2 market entered into the forking process.”

Despite the upgrade, REP ‘will remain transferable forever” as the team has no administrative control over the token.

ALSO READ :  Bitstamp Bans Netherlands-Based Users From Withdrawing Crypto To External Wallets

Meanwhile, the old token will not offer any functional use within Augur v2 without being migrated.

Source: Cointelegraph | Image: Unsplash


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

AXA To Offer Its Customers Pay With Bitcoin

AXA To Offer Its Customers Pay With Bitcoin

AXA, Europe’s second-largest insurance firm, has planned to offer its customers the option to pay their bills with Bitcoin (BTC) through a collaboration with the established cryptocurrency broker Bitcoin Suisse. It has...

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.