Augur launches V2 on its mainnet, REP/USDT unaffected
|- Augur (REP) has recently launched V2 on its betting platform on the mainnet.
- The V2 has added support for DAI, 0x and Uniswap.
- Current REP holders will need to migrate their tokens manually.
Augur (REP), a decentralized prediction markets platform, has recently unveiled its V2 on the mainnet. The long-awaited upgrade allows users to purchase and sell shares of event outcomes using the DAI stablecoin. The first version of Augur used Ethereum for trading, which caused problems due to price volatility. Peter Vecchiarelli, head of operations at Augur, said:
With DAI being pegged to the dollar and if it stays stable when people make the bet, the payout that they get at the end is what they expected to get. So, that’s kind of the biggest change in Augur v2.
Augur is also actively keeping up with the DeFi space. The firm’s integration with decentralized exchange protocol 0x and Uniswap v2 will help Augur reduce trading fees. The new upgrade also includes a scam filter mechanism that identifies and eliminates invalid bets or possibly fraudulent prediction markets.
Earlier, Augur required customers to use a desktop app to access markets. The V2, however, runs within a browser. Token migration from REP to REPv2 is already initiated. Augur noted that current REP holders should manually migrate their tokens using the Augur Client. However, the firm added that migration was optional.
There is no immediate requirement to migrate REP to the new REPv2 upon deployment. The only time in which migration from REP to REPv2 would become a necessity is if an Augur v2 market entered into the forking process.
REP/USDT daily chart
REP/USDT is currently price at 20.145 and sitting on top of the upward trending line. There are two strong resistance levels at 21.472 (SMA 9) and 22.643. Healthy support on the downside lies at 19.50 and 18.75.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.