Top betting exchange platform, Augur, which allows users to place no-limits bet anywhere in the world using DAI and USD, updated followers on the upcoming v2 deployment.
After putting massive efforts for over a year, producing thousands of commits and ten thousand lines of code, Augur announced the extending of the v1 cutoff date until May 15th. Accordingly, the deployment of the v2 contracts on the Ethereum network is likely sometime in June.
Overview of Augur’s launch
In an earlier blog, Augur had announced getting ready for the release of v2. Besides, they had pointed out contracts being set for the first round of audits which is in integration with the rest of the Augur platform. Also, they introduced Decentralized Prediction Markets (DPM) as the future, by giving an ultimate guide to how it works.
The emergence of Augur v2
Following the cutoff announcement of v1, Augur had outlined the importance of blockchain infrastructure in boosting great user experience. Essentially, Augur v2 is set to be user-centric, thus prioritizing the user experience more than ever. In another update, they also showed the transition process from v1 to v2.
By the last quarter of 2019, they had started giving information on the capacity of their v2 release. Here, they shared plans to provide universal access to tools that increase and protect wealth through finance and betting. According to Augur, this could enable everyone to participate in a limitless market. The migration of all the current tokens to the new REP contract also feature in the upgrade plans.
Incidentally, the initial plan of Augur involved four steps, with the idea to release them gradually. But the updated plan would be to release all four steps at once. As a result, there would be a revamp of their trading user interface (UI) along with a brand new betting UI release.
Bug bounty program
In an updated post, Augur informed the general public on how to participate in the bug bounty program. The program aims to design templates that give market creators a “rigid rubric for creating popular types of markets in popular categories, such that they mitigate the chance of a market resolving as ‘invalid’”. Bounties, payable in REP to the tune of $25 for each vulnerability identified, are for finding causes behind a market becoming ‘invalid’.
Launch of Uniswap v2
The new Uniswap platform, mentioned in Augur’s v2 deployment details update, allows for the integration of new features such as flash swaps. This flash swap essentially functions just like the popular flash loans. The update takes effect from the second quarter of 2020. Uniswap offers a more decentralized cryptocurrency exchanging platform relying on asset pairs with Ether as the base currency. The updated Uniswap comes with a direct token-to-token swap.
Previously, we had covered the news of Augur coming out with its prediction platform.
