Veil has listed two user-nominated Augur markets
As part of Veil’s launch last week, we encouraged the community to nominate Augur markets for listing on Veil. Today we are announcing the listing of the first two user-nominated markets:
- Will Coinbase delist ETC by the end of 2019?
- Will a SpaceX Starship test vehicle have a successful test flight before March 2nd?
These and future user-nominated markets can be found at our User Nominated markets channel.
While we received many nominations, we chose these markets for three reasons:
- User engagement. These two markets combined have over 35 ETH in open interest on Augur and were each nominated multiple times.
- High confidence in the validity of the markets. It’s important that our users trust our markets to resolve correctly, and we’re hesitant to list any market that has a chance of being invalid or misleading. To that end, we sought feedback on these markets from active reporters in the Augur community (on the #reporting channel of Augur’s discord). With the exception of a few edge cases outlined below, we’re confident that these two markets will resolve as valid.
- Low (<1 %) market creator fees. Lower market creator fees make it cheaper for Veil and other users to engage with these markets.
Will Coinbase delist ETC by the end of 2019?
Ethereum Classic (ETC), one of the earliest cryptocurrencies supported by Coinbase, underwent a 51% attack earlier this month. The attack was reported on by Coinbase engineer, Mark Nesbitt, and Coinbase subsequently paused trading of ETC. This market questions whether Coinbase will all-together remove ETC from the company’s consumer exchange or continue to offer it for trading by the end of 2019.
Notes on reporting and resolution
At a first glance, it appears that the market resolution details for this market could’ve been clearer and more comprehensive. Based on our discussion in the Augur #reporting channel, we’ve identified two possible issues and included our interpretation:
- The market resolution details vaguely reference Coinbase’s “Consumer exchange” and the resolution source is just https://www.coinbase.com. Our interpretation is that reporters should use the list of assets “Available on Coinbase” from this link as the source of truth.
- The case where Coinbase delists ETC and then adds it again—all in 2019—is not covered in the resolution details. Our interpretation is that the market should resolve to “Yes” if at any time before the end of 2019 Coinbase delists ETC, regardless of whether it is relisted after that.
Will a SpaceX Starship test vehicle have a successful test flight before March 2nd?
SpaceX has been constructing a prototype of their Starship vehicle in their Boca Chica, Texas facilities since late December 2018. This test vehicle will be used for vertical take-off and landing hopper tests, similar to early hopper tests for the Falcon 9 booster. While the company already finished the construction of their first prototype, there may be delays for the tests due to strong Texas winds. This market lets users speculate on whether SpaceX will be successful before March 2nd.
Notes on reporting and resolution
- The resolution details in this market clearly lay out criteria for a “successful test flight” as “the test vehicle landed and stabilized in an upright position after reaching an elevation strictly greater than 1 meter above the original launchpad elevation.” We think this description is clear and comprehensive.
Nominate your own markets
We encourage more people to nominate markets for listing on Veil. When you’re thinking about what markets to nominate, please consider the factors discussed above. We want to ensure that all markets on Veil are clearly defined and will resolve as valid through Augur.
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