Augur Weekly Report — January 9th
This past week the Forecast Foundation has been working on:
-Finishing an initial implementation for allowing Augur to sync with the blockchain more quickly by importing database snapshots
-Continuing implementation of the trading page redesign and finalizing the last remaining mocks
-Testing and finalizing the new code for calculating profit & loss
-Updating the smart contracts with more v2 changes
Veil Mainnet Launch
Veil makes trading faster and cheaper. Ethereum transactions are slow, so we’ve used the 0x protocol to speed up trading and minimize the number of transactions you need to send. Veil order creation and cancellation happens off-chain, and Veil pays gas to persist trades to Ethereum.
Veil helps you get paid faster. Augur’s decentralized oracle system ensures markets are resolved correctly, and it’s a necessary component of a trustless network. But the finalization process can take weeks to complete. Veil introduces a feature for supported markets we call instant settlement. That means you can redeem your Augur shares for ETH as soon as the market expires. Veil has high confidence that the markets will be reported on and settled correctly, so we let you sell your Augur shares to Veil immediately at the reported price rather than waiting for finalization in Augur. Instant settlement is optional, but the idea is to let you choose your own level of trustlessness.
You can sign-up now in anticipation of launch as well as fund your account. On January 15th, you’ll be able to trade on a limited number of markets; cryptocurrency prices, hash rate and gas price derivatives, and the Academy Awards; on Veil, Veil Pro, or Veil API.
Reminder, the Forecast Foundation has no role in the operation of markets, trades or actions created or performed on the Augur protocol, nor does it have the ability to censor, restrict, control, modify, change, revoke, terminate or make any changes to markets created on the Augur protocol. The Forecast Foundation has no more control over the Augur protocol than anyone else using Ethereum.
Thus, we do not seek to advise others on how to use the protocol. We encourage those in the community that are well educated on Augur to pay it forward and share their ideas for best practices, tips, fixes and etc with the larger community via Twitter, Reddit, Discord, Github and other community channels. For more information regarding the role of the Forecast Foundation, checkout the FAQ.
The Forecast Foundation OU