AugurV2 will be launched on the Ethereum mainnet on July 28th, 2020

Augur, the Ethereum-based prediction market, has officially announced the launch date of Augur V2, the platform’s first major upgrade.

According to the announcement on June 29,  the Augur team wrote that the mainnet launch of Augur V2 will take place on July 28th. Existing REP tokens, the native token of Augur, will be renamed “REPv1” and the new REP token on Augur V2 will be called “REPv2.”

Current REP holders will need to manually migrate their REPv1 to the new REPv2 token to participate in the Augur v2 reporting system.

Augur v2 reintroduces the concept of “Use It or Lose It”, meaning all REPv1 and REPv2 holders will need to participate in a network wide market fork, if one ever occurs. If you do not participate within the 60-day forking period, your REPv1 or REPv2 will be forever unable to participate in any of the forked and future universes of Augur.

AugurV2 includes a handful of new features onto the prediction market platform, including the ability to use the Dai stablecoin for dominating markets.

Augur (REP) is a pioneering, decentralized, peer-to-peer, and decentralized market built on Ethereum. REP allows users to create their own market with specific questions for profit. This prediction market allows users to buy and sell stakes in the outcome of an event. The current market price of a share is thought to estimate the probability of an event occurring. The Augur project makes the most of the mass intelligence (collective intelligence) to predict future events accurately.

Augur is the fifth largest decentralized financial platform (DeFi) in the market, according to Coinmarketcap.

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