On the Ethereum blockchain, Augur is a trustless, decentralized oracle and prediction market platform. Anyone can develop, monitor, and trade in prediction markets on any topic on the platform.
The system uses market incentives, "long-tail" dynamics, and blockchain technology to safely provide a more accurate, comprehensive, and unfiltered variety of dynamic event forecasts than any other option.
The REP token is used to settle market disputes. It is specifically staked for a market outcome for anyone desiring to report the correct market outcome. It also provides event outcomes to the distributed oracle. To obtain a part of the market's settlement fees, REP holders must put in work, such as staking their REP on correct outcomes.
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