Augur Comes Back Strong with US Mid-Term Elections

Author: 
Michael R.
Date: 
November 09, 2018
Read time: 
2 minutes
Augur
Prediction Markets
US Midterm Elections

Augur is a decentralized prediction market platform. A prediction marketplace is where any user can create their own market, which is simply a proposed bet on a future event. An example market can be “Will the Giants win the next Superbowl?” Then, betters are able to bet yes or no. These are referred to as binary markets because you either win or lose.

Augur is a decentralized prediction market platform. A prediction marketplace is where any user can create their own market, which is simply a proposed bet on a future event. An example market can be “Will the Giants win the next Superbowl?” Then, betters are able to bet yes or no. These are referred to as binary markets because you either win or lose.

Alternatively, what makes prediction markets more novel is that speculators can trade event shares. In other words, speculators can place orders, similar to an exchange, for a better price on placing a “yes” or “no” bet. There is an orderbook and the prices of each bet fluctuate. The creator of a market makes money from the fees that come from activity in their market.

At the core, predictions markets are similar to the futures markets in that it enables speculators to trade, or predict, on a future event.

Augur was one of the first major ICOs to launch on the Ethereum platform back in 2015. They had the most number of users the first day of launch with a total of 256 users. Today, they range from 20 to 70 users per day, according to DappRadar. With major hype, the user turnout for Augur has been a bit disappointing. Without being overly critical, it is worth considering that the dApp market as a whole took a huge hit with the current bear market.

Up until the recent US elections, the largest market in Augur’s history was, “Will price of Ethereum exceed $500 by the end of 2018?”  This market has around $500,000 staked from speculators. Then, the market for, “Which party will control the House after 2018 U.S. Midterm Election?” entered the scene. This market has around $720,000 worth of liquidity staked, or around 3,517 Ether. Ultimately, it is nice to see that Augur still has interest and the community expects it to continue growing. We will be keeping on an eye on Augur particularly with any future political events as these seem to be the most popular.

If you are interested in investing in the crypto space and interacting with projects like Augur directly, then the first step is checking out our start investing guide.

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