Augur Weekly Report — June 5th

Development Update

In the last week, the team has released new versions with a suite of changes that will render invalid market attacks obsolete and incentivize highly liquid markets. You can read the post above in full for further context, but here is an excerpt from the writeup:

We believe that these changes will make Invalid market scams a losing game and ultimately obsolete. Invalid market scammers will face a choice: seek a new exploit, leave Augur, or start creating valid markets and contributing productive liquidity (it appears the most prolific Invalid market creator on Augur has already creating some valid markets). Either way, it’s a win. If they find a new exploit, we can counteract it before Augur hits primetime. If they redirect their skills at making valid markets, even better.
In the high-stakes face-off between a protocol and its exploiters, one invaluable edge that Augur has is a community of thousands of people the world over who are excited about the project and want it to succeed. The community has been instrumental in helping develop and refine some of these solutions. In particular, we owe a big shoutout to the folks in the #game-theory channel on the Augur Discord.
We also recognize numerous members of the Augur community who have gone out of their way to educate others on the risk of Invalid markets and in some cases to even front run scammers. And finally, while we could never condone their actions, thank you to Invalid market creators for showing us where Augur could be improved.

Augur Metrics

Pre-Finalization Markets: 449

All-Time Finalized Markets: 2,006

Pre-Finalization Open Interest: $520,065.85 (2,112 ETH)

CASH Contract: $1,040,399.63 USD (4,258 ETH)

ETH Price: $244.32

Guesser AMA and Predictions.Market Node

Guesser was so kind to have released their open Augur node for developers building tools, trackers, and other Augur data-centric products. Head over to Predictions.Market for more info on what you can build and how to use the node.

In their own words:

Different tools have been created over time around Augur prediction markets, many of them relying on open nodes that have at times encountered technical issues. We’ve listened to the most common problems builders were facing and tried to solve them with this node, making life easier for those looking to launch products that interact with these markets.

Additionally, the team took a few minutes to answer questions from users and fans during an engaging AMA, found below:

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