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Augur surges by 28% after successful launch, prediction payouts

Decentralized predictions marketplace Augur has soared by some 28% after a successful launch and the closure of several predictions markets.

Written by Bryan Smith Published on

If you’d placed your bets on Augur’s REP tokens, you’d be in for a successful payout today – as the decentralized predictions marketplace has soared by some 28% after a successful launch and round of payouts.

Augur – the decentralized platform designed to facilitate bets on real-world predictions – officially launched earlier this month as open-source software available for download.

Augur was first released in beta on Ethereum – and the platform endured a token-swap to convert ERC20-based REP tokens to ‘mainnet’ REP tokens earlier this year.

Augur enables users to create predictions on the outcome of any event, whereafter users can create betting markets and stake funds on the probabilities involved.

Users have, for example, created prediction markets based on question such as “Will the bitcoin price reach $50,000 by the end of 2018?” , all the way to “Will the Toronto Maple Leafs Win the Stanley Cup next year?”

On Wednesday last week, the project hit another milestone with the news that it had successfully resolved its first prediction markets, with payments of $20,000 USD worth of Ether distributed to network participants.

The platform presently has some 543 active prediction markets, with more than $1.4 million USD staked on various bets.

Augur’s development team has released several new updates, having cycled through v1.0.3 and v1.0.4 while an update to the platform’s present version – v1.0.5 – is apparently imminent.

At press time, Augur has risen by 27.15% USD day-on-day, and presently trades at $37.50 USD. The news has seen the project overtake several other cryptocurrencies weighted by their market cap, and the initiative has now surpassed the likes of Verge, Basic Attention Token, and Golem.

Written by

South African technology journalist, podcaster, photographer and filmmaker. Hodling - BTC, NEO, ETH.@bryansmithsa

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