Ethereum-based prediction market Augur sets out plans for 2020 revamp

Prediction market Augur has given a peek into its upcoming platform overhaul at Devcon 5, set to launch in Q1 2020. Teased by founder Joey Krug in an interview with Decrypt earlier this year, Augur v2 will launch with a new betting UI plus 0x and DAI integration.

Revealing the news on stage at Devcon 5 in Osaka, Japan, Krug said that, “While Augur may be slow, expensive, and clunky today—that won’t be the case much longer”. 

In the announcement, the Ethereum-based platform revealed that it would bundle several releases that were originally intended to be staggered. Augur’s original plan included separate launches for v1.5, integrating the decentralized exchange protocol 0x, and v2, integrating MakerDAO’s DAI stablecoin. Now those two releases will be packaged together. 

0x integration will enable things like partially off-chain trading—the ability for users to create, modify, and cancel orders quickly and cheaply on the betting platform. DAI integration will enable users to make bets on the platform using the stablecoin as the settlement currency, avoiding the need to use potentially volatile Ethereum tokens. From v2 onwards, the user will be able to not only use but purchase DAI directly on one of the project’s built-in “fiat on-ramps”.

Finally, in v3, the team is looking to go live with “fast trading”. This final upgrade will enable platform users to perform “high throughput and low latency” trades—to allow things like “market-making tools” to be effectively deployed on the revamped and “no limit” betting platform.

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After revealing the version upgrades on stage, in an Apple-style, “one more thing…” reveal, Krug gave a glimpse into the platform’s brand new UI (user interface). The upgraded UI features a Betfair.com-style back and lay betting market—in which users can place wagers depending on whether they think the outcome will happen (back) or the outcome goes the other way (a lay).

Speaking directly to Decrypt, Augur COO Tom Kysar told us that while today’s announcement is really just a sneak peek into the new platform’s full capabilities, the team will be “having an updated Master Plan prior to launch” that would include more information about the project’s partnerships and marketing plans.

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