The second version of Augur is coming, stable currency DAI is introduced, and ETH is diluted

Since the first release of Augur last July, the team has been collecting user experiences and looking for bugs. It took a few months to update the Augur platform, and today Augur announced that version 2 is coming soon, optimized in almost every way.

The first is the introduction of stable currency DAI, which in the V1 version allows users to trade only with ETH because Augur is based on ethereum. However, the ETH price is extremely unstable, and the introduction of stable currency DAI can make this situation not happen again.

Invalid market orders, which had been much in dispute, have now been settled. After the previous prediction was ruled invalid, everyone split the result equally. In the new version, invalid results are also tradable and can be used as a hedge against invalid market orders.

One of the main mechanisms for maintaining network security in Augur is that the fees that traders pay reporters are always adjusted, partly by the token REP price of Augur. In V1, REP price is determined by a centralized organization. In the new version, REP price is determined by the method of public order. Twice a week there will be an open call for REP, figure out the REP price, and the system will have a small amount of inflation to compensate for the auction loss.

Most importantly, the soft fork in Augur has a solution, and users have 60 days to vote on whether to use or discard REP usage rights. In V1, the bifurcation behavior of a market order can be solved only if at least 5% of the holding amount is processed. Before the bifurcation of a market order at the first level is solved, the bifurcation order cannot be entered, which solves the security problem.

The standard for tokens has also been updated from ERC20 to ERC777 so that developers can use the tokenReceived feature, which allows developers to interact with Augur tokens.

At the same time, the introduction of DAI allows people who do not have ETH to participate, so the volume of ETH trading on Augur will be less and less, and people only need to pay for GAS with ETH.

The new version is also expected to add features that limit the duration of the market, both to prevent system instability and to prevent malicious interest earning.

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