ShapeShift Supports Decentralized Prediction Market, Augur
Augur’s REP token now available for instant exchange with blockchain assets
OCTOBER 12, 2016 (Switzerland): ShapeShift.io has integrated the Augur Reputation (REP) token, a tradable blockchain asset bestowing votes to users of Augur’s prediction market platform. Customers anywhere in the world can now buy or sell Augur REP instantly along with Bitcoin, Ethereum, Dash and dozens of additional blockchain assets. There is no signup process nor account required to use ShapeShift.
Augur’s REP token is the first decentralized oracle solution ever implemented, and allows its holders to report on the outcome of events on Augur, a decentralized prediction market platform. Each token entitles its owner 1/22-millionth of all market trading fees in return for faithful reporting on market outcomes.
“Decentralized prediction markets are one of the most important applications to derive from blockchain technology,” explained Erik Voorhees, ShapeShift’s CEO. “Augur has pioneered and popularized the concept and we’re honored to support REP on ShapeShift from day one.”
Demand exists for REP due to ownership of the token being the only way to obtain half of the fees on the Augur platform. A limited supply exists of 11 million of these tokens due to mathematical proof of ownership and a consensus of honest transaction validators. Ownership of Augur reputation
grants the right to be paid in exchange for providing real-world information to Augur.
By including REP on ShapeShift, software developers and users can immediately exchange between Reputation and assets like Bitcoin or Ethereum, bringing seamless liquidity to the ecosystem.
“ShapeShift is known throughout the crypto space as one of the best services for digital asset users. New users will have an incredibly easy to use method to convert cryptocurrencies into REP tokens and vice-versa,” said Tony Sakich, Augur’s director of marketing, “It’s wonderful to have such an easy tool to recommend novice users who are interested in REP for the first time!”
Companies and individuals can immediately utilize the ShapeShift website or API to convert between REP and most other leading blockchain assets such as Bitcoin, with no account or sign up needed.
About Augur REP:
Augur Reputation (REP) token is the first decentralized oracle solution, allowing holders to report on the outcome of events presented in the Augur Platform’s prediction markets. Ownership of Augur Reputation grants the right to be paid in exchange for providing information to Augur.
Augur is a decentralized prediction market platform built on the Ethereum network. For the first time in history, a global platform like Augur’s enables users to be rewarded for correctly predicting future real-world events.
Anyone can try the Augur Beta at app.augur.net. Others can learn more in our “How Augur Works” video or by visiting Augur.net.