If you've visited Coinmarketcap recently (or any other price analysis site), then you may have noticed that Augur has been soaring through the roof as of late.
Appears to be Related to the 'Augur v2' Launch
Just taking a wild guess here:
Seems that Coinmarketcap really wants us to be aware that:
"Augur v2 will be launched on the Ethereum mainnet on July 28th, 2020"
New Augur v2 Launch
Honestly, this almost feels like 'biting the bait' in this case.
There's a major impending protocol upgrade / update that's going to take place in less than a week from the date of writing, the token's price action is going crazy, and there's nothing but hype around this singular event (which may or may not be a gamechanger for the project itself).
Anyone else feeling 2017-y right now?
Yeah, me too.
But let's entertain the hype for a second.
Link to the Augur v2 Platform Launch Announcement
The link to the announcement can be found here: https://www.augur.net/blog/v2-launch/
"Use it or Lose it" Concept is Interesting
Specifically, the press release states:
"Augur v2 reintroduces the concept of "Use It or Lose It", meaning all REP 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 REP or REPv2 will be forever unable to participate in any of the forked and future universes of Augur."
Considering the fact that this is a token (and not an independent blockchain), it strikes us as curious that the team can impose a "fork" (which is a term relegated for an actual 'fork' in a protocol; tokens are built on protocols, they are not protocols in themselves).
Nonetheless, the two relevant links (from the press release) that provide more information about this supposed 'fork' and the ramifications facing those that do not take appropriate action can be found at the following links:
'Augur Master Plan'
Upon visiting Augur's Twitter page, we noticed a pinned tweet linking users to "The Augur Master Plan"
Link to the Actual Master Plan = https://www.augur.net/blog/master-plan-part-2/
Below are some screenshots from 'The Master Plan' that provide more detail for users on what the 'Master Plan' entails:
Below are all of the new features coming in 'v2' that users should be hyped about (according to Augur):
The press release (Master Plan) also mentions several platform upgrades (versus new features) that will be accompanied with the 'v2' launch.
Platform Upgrade Number One: 'User Activation'
According to the press release:
"Now that most of the hard technical problems are solved, it makes sense to focus on making Augur significantly more usable and to respond quickly to user feedback. Almost all of the changes from v1 -> v2 were either directly or indirectly inspired by user feedback. Now that the groundwork and infrastructure are more robust, it'll be easier to make improvements at a rapid pace since it'll no longer involve much smart contract work. For the first time we can focus on user experience vs solely backend tech problems."
Platform Upgrade Number Two: 'Betting Interface'
"The first user interface we launched was focused on traders because we wanted to build the full feature set of what is needed to run Augur first. If we had just released betting early, then the contracts might have had to change drastically to enable trading. So we launched trading first, which is a sort of niche platform focused on crypto traders and politics, but that has the full functionality that we could iterate on. Then, we plan to launch a more mainstream, easy-to-use, betting interface after that. This should go much quicker than it took us to get a usable trading interface out the door because here, we're mostly removing content and simplifying things versus adding new complexity."
"This new betting interface is for people who are used to doing regular betting and want to get the benefits of betting on the world's first global, no-limit platform. It'll have the same basic features of the trading UI but framed for betters using odds and with an experience similar to services like Betfair. It'll show you your odds and what your payout could be in an easy to understand way. Most importantly, it’ll be much more accessible and far easier to understand for most people than the trading interface."