Decentralized predictive betting market platform Augur (REP) has introduced the profitable deployment of its v2 improve.The improve is meant to dea
Decentralized predictive betting market platform Augur (REP) has introduced the profitable deployment of its v2 improve.
The improve is meant to deal with bugs and vulnerabilities recognized with the prevailing platform and its guidelines surrounding betting markets, to introduce assist for the Dai stablecoin and different common DeFi protocols, and to institute an associates program.
On July 29, Augur revealed that its v2 protocol contracts had been deployed on the Ethereum Mainnet and verified on Etherscan. In a press release the venture famous that “exchanges, pockets suppliers, block explorers, and extra companies might be updating to the REPv2 contract tackle over the approaching day.”
Augur updates to maintain tempo with DeFi
Augur’s v2 improve comes 5 years after the venture’s launch in 2015. Whereas the primary incarnation of Augur was extensively seen as a proof-of-concept, the brand new model has tailored to developments rising from the decentralized finance (DeFi) ecosystem and helps MakerDAO’s (MKR) Dai stablecoin, 0x’s (ZRX) Mesh community, Uniswap’s v2 oracle community, and the Interplanetary File System (IPFS).
The replace may even embody ‘invalid’ as a predictable end result for occasions, with the crew looking for to forestall opportunistic customers gaming the protocol’s earlier decision system surrounding invalidated markets.
The crew can be urging customers to let the operators of Augur-native companies that haven’t but up to date, know concerning the overhaul.
REP token migration is non-compulsory
The replace requires REP holders to manually migrate their tokens to the brand new REPv2 token by way of the Augur consumer to take part within the protocol’s reporting. Augur can be protecting an in depth eye on custodial exchanges concerning the platforms’ numerous plans for token migration.
Nonetheless, the announcement notes that “there is no such thing as a speedy requirement emigrate REP to the brand new REPv2. “The one time by which migration from REP to REPv2 would turn into a necessity is that if an Augur v2 market entered into the forking course of,” added Augur.
Regardless of the improve, REP ‘will stay transferable endlessly” because the crew has no administrative management over the token. Nonetheless, the outdated token won’t supply any purposeful use inside Augur v2 with out being migrated.