From April 3rd, we officially list Augur V2 Token (REP) on the ONUS application. Soon after REP is added, users can perform the following features:
- Off-chain transactions: Send and receive REP with other users in the ONUS network.
- Exchange: Swap from VNDC or USDT to REP and vice versa.
Augur is a decentralized prediction market protocol built on the Ethereum platform in 2014. Augur leverages the power of Blockchain technology to exploit “Collective Intelligence”, thus giving predictions for future events. Coming to Augur, any user can create their prediction topic, such as predicting the President-elect, predicting the business performance of businesses, predicting the current natural phenomena,…
The Augur protocol allows users to create a prediction market through 4 main stages:
- Creation: Stake ETH or REP tokens to initiate a prediction market for an upcoming event.
- Trading: After creating a market, users begin to bet on the event’s outcome or buy/sell shares related to that event.
- Reporting: Anyone holding a REP token can participate in this phase to choose the most probable outcome. If correct, they will receive additional REP. If they are wrong, they will be deducted the amount of REP they bet.
- Settlement: Trading participants can close trading positions by selling shares or sharing rewards based on the number of shares they hold when the event ends.
What is REP Token?
REP is a native token of the Augur V2 network, operating on Ethereum according to ERC20 standard, and can be used in the reporting and dispute system within Augur v2. REP cannot be mined or staked but can only be earned. Users holding REP tokens can bet on the outcomes of events such as company performance, election results, or even natural phenomena to earn rewards.
- Name: Augur V2 Token
- Symbol: REP
- Platform: Ethereum
- Standard: ERC20
- Type: Utility Token
- Smart Contract Address: