Decentralized prediction platform Augur has launched the “Augur v2” upgrade. The new version includes a series of features designed to improve the user interface and make trading faster and cheaper.
The most important change in Augur v2 is that betting will be denominated in US dollars. In the original version, Augur’s markets were denominated in ETH, exposing users to its fluctuations against the US dollar. The new version allows users to trade with stablecoin DAI.
“With DAI pegged to the dollar, when people stake, the payout they ultimately receive is what they expected. So that’s the biggest change in Augur v2,” Peter Vecchiarelli, director of operations at Augur, told The Block.
Augur v2 also promises to be faster and cheaper. Vecchiarelli highlighted a new integration with decentralized exchange 0x that will cut trading fees.
Additionally, users can run Augur in a web browser, whereas previously they had to install the desktop app before running the link in the new version. That makes the user experience more like other things people are used to, Vecchiarelli said. “We also redesigned the user interface from the ground up. It’s almost identical to what you would see on Binance or Coinbase Pro.”
New mechanisms have also been introduced to prevent “invalid and deliberately misleading markets” from the platform.
Specifically, the new version is intended to prevent scammers from taking advantage of “invalid” bets – for example, when bets do not have a clear expiration date or when bet descriptions are unclear or There are subtle grammatical or language errors that can lead to confusion about their true meaning.
Bets made during the period before the market is considered invalid are distributed evenly among the participants. This setup creates arbitrage opportunities for scammers to game markets they know could be considered invalid.
In response to this, Augur is adding a feature on their platform whereby bettors will be able to select “invalid” as a potential outcome in their bets, allowing them to predict and calculate Calculate invalid betting situations and prevent their disadvantages.
If some users choose “invalid” as the result, it would effectively mark the fact that such a bet is likely to be void, while also providing an indirect signal to other users. Be cautious in such cases.