- Augur (REP) has spiked over 35% in the last 30 hours.
- The Forecast Foundation is moving towards accelerating the development of the platform.
- REP could soon retrace before it continues its uptrend.
Augur is on a roll as its price surged over 35% against the dollar in the last 30 hours. The recent announcements regarding new upgrades and products could be directly related to the sudden spike.
On the Works
During Devcon 5 in Osaka, Japan, Augur founder Joey Krug revealed that Augur v2 is set to launch in Q1 2020. The original plan was to release several upgrades one by one. After an in-depth discussion, the team agreed to release them all at once.
“While Augur may be slow, expensive, and clunky today—that won’t be the case much longer.”
Augur v2 will integrate 0x to enable services associated with on-chain trading. Users will now have the ability to create, modify and cancel orders in a timely and cost-effective manner. This upgrade will also add MarkerDAO’s DAI as the settlement currency preventing users from being subject to ERC20 token volatility. Finally, the development team is working on enabling high throughput and low latency trades as the scaling solution for the prediction market platform.
As the Forecast Foundation prepares the new set of upgrades, Prediction Labs announced that it would introduce STLD Exchange alongside with Augur v2. The new service will provide instant-payout for select prediction markets on the betting platform. Users will be able to swap their shares for DAI the moment an event is completed on Augur instead of waiting for the platform to close the operation.
The market appears to have welcomed the steps taken by the Forecast Foundation to accelerate the development of Augur.