Ethereum-based prediction market Augur has a new launch date for its new version of the platform starting July 28.
According to an announcement on June 29, Augur v2 will launch on the Ethereum (ETH) mainnet at the end of next month.
Augur v2 will launch on July 28, 2020. https://t.co/yhTqtV9dlS — Augur (@AugurProject) June 29, 2020
It means that REP token holders need to manually migrate their coins to the new version, REPv2.
Augur stated that current tokens will be renamed “REPv1” to clear confusions.
The REP token contract at (0x1985..) has now been formally renamed to "REPv1" on @Etherscan 🎉https://t.co/M5ZLG3IVQK — Augur (@AugurProject) June 30, 2020
The release of Augur v2 would require all REP token holders to participate in any forking, should it occur.
Those who fail to do so within 60 days will have their holdings:
“forever unable to participate in any of the forked and future universes of Augur.”
However, the platform also emphasized that no immediate action was required.
[UPDATED] v2 LAUNCH CHECKLIST: ☑️ 0x finish high priority performance tuning ☑️ 0x finish browser database refactor 🔄 Working through performance, regression, and stability testing 🔄 Slimming down initial download so the app loads fast ☑️ Final contract coverage testing 🎉 https://t.co/666WdIObZN — Augur (@AugurProject) June 17, 2020
According to Augur, forking is “intended to be an extremely rare event.”
At the time of the announcement, it would cost Augur more than $9 million, making the new tokens “presumably worthless.”
The platform’s native REP token (now REPv1) ranks 44th by market cap and is trading at $16.77.
Augur is a predictions market that uses smart contracts to let users create and bet on the outcome of any event using ETH.