Augur Focusing on Political and Sports Betting MarketsJune 25, 2020
Augur is particularly focused in the political betting and sports betting market. This is the area where they will be able to provide competitive fees.
Augur tweeted: “Since the launch of Augur v1 in July 2018 about 69,621 ETH which is $15.4 million has been traded across 2,894 markets.”
Further, Augur V2 is set to launch during the summer of 2020. Notable changes in this area consists of stablecoin-denominated markets and their off-chain order books.
The Augur updated V2 launch checklist consists of: “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.”
Some of them are wondering about the probable friction points. They are contemplating on whether there will be market makers and about where the initial liquidity will come from.
Augur operates with two cryptocurrencies, it is built on Ethereum and it functions as a decentralized oracle. The source which verifies for real world occurrence.
Sydney Ifergan, the crypto expert tweeted: “Augur is already a famous peer-to-peer protocol meant for the prediction markets, a smart shift away from conventional prediction markets.”
The good thing about Augur is that when a judge has a self-interest in an outcome they might not be the right judge. The idea of decentralized predication and protocols which automatically execute smart contracts which filter information from the Augur Oracle helps in the different states of market flow in the betting process.
Sports bettors are interested in this platform as it is trustless, decentralized oracle in the prediction market platform.
As always investors keep counting on the possibilities of to the moon and sky. Those who are watching the Augur closely state that the Augur REP is an excellent project with a huge potential.
Augur REP is trading live on Binance US. Those who are interested in contract coverage for Augur V2 contracts are checking in to the respective reference areas. Many investors are excited about the DeFi Possibilities of Augur.
The key ideas of Augur are already available in different videos. Investors need to understand how they can participate in the market and what their roles are in the prediction market.
The three major types of participants in the Augur market are being a market creator, who plays the role of creating the event and further sets the expected outcomes, pays fees and Escrows and establishes the rules, and further designates the initial set of reporters. The traders place the bets. They buy and trade shares and trade on the odds of the outcomes. The third category of people are the reporters, who report the outcome.