Augur 100% Peer-to-Peer Owned Start with Joining DiscordDecember 26, 2019
Augur tweets itself as, “The world’s most accessible, no-limit betting protocol. The Internet augur.net.”
The funds invested in Augur are not under the control of anybody. Nobody has the custody of funds invested with Augur. The token is owned and entirely operated by the people who use it. The fees paid to the company are low because no other third party is making money from the bets made by the investor. The fees are directly vested with reporters and the creators of the market.
Liquidity is dependent on the counterparty and the number of shares applicable in an outcome. Investors can sell and buy positions at any time. The protocol is open to all, and it is a permission-less system. Investors from anywhere in the world can create markets and participate in the market happening.
AUGUR WORKS ON A 3-STEP MODEL
Investors can create markets on politics, sports, cryptocurrency, culture, and a lot of other parameters. Augur works on a 3 step model. In terms of Augur, anything is a fair game, whether elections or crypto prices. It is possible to create a market in just a few clicks. Investors can buy and sell shares in any market, and they can choose to go long or short in their positions.
Investors who bet and make their winnings get their shares directly sent to the Ethereum Wallet. Augur is about creating a market for prediction, whether for weather prediction, political forecasting, event hedging, or cryptocurrency speculation.
AUGUR REPORT EVENT OUTCOME WITH REP
The bets made on the Augur Protocol happen with Ethereum. ETH makes betting on Augur protocol accessible to all. REP is used to dispute and report the outcome of events. Those investors who report the correct winning result of a particular event get rewarded, and those who are not in agreement with the event can dispute it. The bet is on whether investors support it or opposes it, and the rewards get distributed accordingly.
The Discord channel is the first step to joining Augur.
The ecosystem grows endlessly with contributions from developers, projects, and companies build on the Protocol. The investors make use of the leaderboard, Dispute, Tools, PdotIndex, and LogFile.Info to set the Augur Protocol into motion triggering a real-world use case.
The design and development process is discussed in the Augur Community every day. Clarifications offered for both technical and general questions about Augur strengthen the ecosystem.