Augur

From CryptoMarketsWiki
Jump to: navigation, search


Augur
Augur.png
Founded 2015
Headquarters San Francisco, California
Key People Jack Peterson, Joey Krug
Twitter @AugurProject
Facebook augurproject
Website Augur Homepage
Blog Augur Blog

Augur is a decentralized prediction market (betting) platform based on Ethereum.

It is a platform where third parties can organize markets to bet on outcomes of events. Users can download a software client from Augur to specify a prediction market, including start time and end time, as well as event definition ("Will the Dow Jones close above 30,000?" is an example of such an event). The general public participates in the events using cryptocurrencies such as bitcoin and Ethereum.[1]

Background

Augur was one of the first organizations to raise funds by issuing tokens through its 2015 ICO. Augur issued 8.8 million tokens of a total 11 million supply, raising about $5.2 million. The tokens are called REPs.[2]

Augur officially launched on July 9th, 2018.[3][4] Within its first month, 800 users had made more than $1.5 million worth of bets on Augur's prediction market, including such controversial bets as, "Will Donald Trump (President of the USA) be killed at any point in 2018?"[5]

Regulation

The Augur management believed that they would elude regulatory concerns from the CFTC about prediction markets because Augur only provides software and a platform and does not run any prediction events itself.[6] Augur has not yet sought approval from the CFTC, despite going live in July of 2018.[7] This has caused some controversy, because, for one, the betting method used on Augur technically falls under the category of binary options, a type of derivative regulated by the CFTC.

John Lothian News

Augur was highlighted in a recap of Consensus 2018 by JLN contributing editor Chuck Mackie. You can read the article here.

References