Introducing Augury Network, the First Decentralized SafePlay Prediction Market on Binance Smart Chain
American moral and social philosopher Eric Hoffer once said — “The only way to predict the future is to have power to shape the future”.
Conventionally, forecasting and money-based predictions have been associated with the idea of “all or nothing”. Traditional predictions are black and white. Either you win or you lose.
Even the current blockchain-based prediction markets have not done much to graduate from conventional forecasting models. Almost all of them are hosted on blockchains that are plagued by notoriously high transaction costs and long processing times. There is no insurance to support lost forecasts and no avenue to replicate winning forecasts.
What if your prediction palette had a lot more colors than just black and white? What if you had a bit more leverage on your side to support your forecasts? What if you actually had the option to ‘play it safe’ with your forecast?
Introducing Augury Network
Our objective is to redefine blockchain-powered prediction. By saying that, what we mean is that we just don’t want to decentralize predictions, we want them to be instant and cheap. We want to make forecasting a pocket-friendly experience. And for this, we have chosen to build Augury Network on Binance Smart Chain.
Along with this, the platform has in-built support for multiple distributed networks. The idea is not to be just a prediction market but a complete prediction ecosystem where users can leverage Augury Network’s native Augury tokens to earn discounts on predictions, generate an income passively, and much more.
Key features
Instant & Low Fees
With the help of Binance Smart Chain’s exceptionally high throughput capability, Augury Network will let users process predictions instantly at little to no cost. The platform’s native token Augury as mentioned earlier will come in handy as users also would be able to predict outcomes for events at subsidized rates.
Incentives & Rewards
Augury Network lets you, the forecaster, monetize your forecasts and earn up to 50% of the fees incurred from processing a particular prediction. Also, users holding Augury tokens stand a chance to earn rewards for making accurate predictions, staking and adding Augury tokens liquidity to the available prediction pools, and much more.
Be the Creator
Users will also have the option to accrue “governance value” by staking Augury tokens. This, in turn, will prove instrumental in creating predictions and voting for key platform decisions like upgrades, etc.
Mirror Prediction
This is the feature that sets Augury Network apart from all other public prediction platforms. Unleashing the true potential of blockchain, the platform will let users replicate previous predictions of experts based on their blockchain scores that they earned based on their previous successful predictions to become a reputed forecaster on Augury.
SafePlay
And last but not the least, users will have the option to play it safe with their predictions. Augury will have an in-built insurance mechanism to cover any losses that users incur on a portion of their forecasts. Also, users will be able to add a floor and ceiling on the forecast that they make, kind of like stop losses on spot asset trading platforms.
Closing Thoughts
We at Augury Network are working to create a decentralized prediction ecosystem that makes forecasting a wholesome and enjoyable experience. Something that the current platforms have totally ignored or missed out on. We believe our efforts will create a level playing field in the prediction market and will truly democratize forecasting and open a whole new world of opportunities.
Do you believe that predicting events should be a fair and win-win experience? Let us know your thoughts in the comments below, or else connect with us on our Telegram and Twitter channels or just drop us a message on our website!
Follow us:
Telegram: https://t.me/augurynetwork
Twitter: https://twitter.com/AuguryNetwork
Website:https://augury.network/
