This article is from:The Block, original author: Momina Khan
Odaily Translator |
Odaily Translator |
The decentralized prediction market Augur has officially launched the v2 version upgrade. Currently, the source code of the Augur v2 client has been published on Augur Github, and its protocol has been successfully deployed to the Ethereum mainnet and verified on Ethereum. The new REP token of Augur V2 is "REPv2", and the token contract address is "0x221657776846890989a759BA2973e427DfF5C9bB".
The most important change in the Augur v2 version is the adjustment of the denomination currency - from ETH to USD (in the form of stable currency). Augur officially stated that in the original version, all prediction markets on Augur were denominated in ETH, which to some extent caused users to bear the volatility risk of ETH.
The new version supports users to choose DAI for transactions. “The value of DAI is pegged to the U.S. dollar, and if the U.S. dollar remains stable, users are guaranteed the returns they expect when they wager,” said Peter Vecchiarelli, head of operations at Augur.
Augur v2 also optimizes transaction speed and transaction cost. Vecchiarelli highlighted the integration with decentralized exchange protocol 0x, explaining that it will significantly reduce transaction fees.
In addition, users can now run Augur directly in their web browser, eliminating the need to install a separate desktop application. Vecchiarelli said this will be more in line with user habits. Augur has also redesigned the user interface, which now somewhat resembles Binance or Coinbase Pro.
In another key update, Augur v2 introduces new safeguards against betting on "invalid or intentionally confusing" markets.
Specifically, the new version prevents some users with bad intentions from taking advantage of "invalid" market arbitrage - such as creating forecasts without a clear deadline, or deliberately using vague descriptions, including using some subtle grammatical or language errors, thereby confusing other users. true meaning. Previously, markets deemed “invalid” on the Augur platform would have distributed all wagering assets equally to punters, but this mechanism created an arbitrage opportunity for bad actors who could choose to bet on those bets that had a high probability of being lost. Profit from speculating in markets deemed "invalid".
In order to solve this problem, Augur v2 introduces a new feature, punters can choose the potential outcome of "invalid" in a specific market, which allows users to reasonably predict the possibility of invalidation of the bet, thereby hedging their risks.
