Ethereum Deployment News Augurs Well For REP Cryptocurrency

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Augur (REP) – the trustless, decentralized platform tailored for prediction markets – have declared the date of its launch onto the Ethereum mainnet. Via a Wednesday evening (PDT) announcement, the Augur team revealed the deployment (and REP migration) will begin on July 9th, 2018 at 11:01 PDT.

Sit Back, Relax

In a seamless transition that will see Augur’s extant contracts deployed on the main Ethereum network, the vast majority of individual REP token holders needn’t do anything in order to have their REP balance successfully migrate over to new REP token contracts (i.e., thus creating “the genesis Augur universe”).

Specifically, Wednesday’s announcement stated that “if you are a REP holder or user of a centralized exchange [e.g., Bittrex, Poloniex, and Kraken] or non-custodial decentralized exchange [e.g. Paradex, RadarRelay, and other 0x Relayers], there is nothing you need to do.”

One Exception

The only types of REP token holders that will need to take action (i.e., withdraw their REP prior to July 9th) in order to have their balances properly migrated are those using “custodial decentralized exchanges such as EtherDelta/ForkDelta, IDEX, and OasisDEX.”

More To Come

The team at Augur revealed that “further details on the deployment procedure and REP migration will be release over the coming weeks.” In the interim, users were invited to stress test the Augur UI.

Founder’s Augury

Wednesday’s announcement made reference to a recent Twitter thread from Joey Krug (Founder, Augur); an informative “recap of Augur’s development history.”

Whilst we encourage you to read through his thirteen tweets (click through on the below tweet), it was a reply of Krug’s that was just as revealing.

When asked if he believes that Ethereum was ready to support a would-be viral dApp in its current state, Krug replied, “nah it’s not.” Expanding on this, the Augur founder predicted that Ethereum “scalability will take a few years to improve;” insightful, given the fact that Krug has “been writing contracts on Ethereum since before Solidity was even a language.” 

News Augurs Well For $REP

When Augur shared the news of the imminent deployment to Ethereum (22:00 PDT), one REP token equalled $50.92. Some fifty minutes later, $REP had ballooned by ~15 percent to a peak of $58.57 – per CoinCheckup.

Image From Shutterstock



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