Augur (REP): tokenomics, risks and score
The first decentralised prediction market, launched from one of the earliest Ethereum token sales, which was eventually abandoned by its developers.
What Augur is, and what it does
This asset has failed. It is recorded here so that a search returns what actually happened rather than promotional material that is still online.
What the REP token itself does: It receives a share of the fees the protocol collects, so holding it is a claim on real revenue.
Where it runs: Ethereum. Mechanism: Decentralised prediction market with token holder reporting. It has been running since 2015, so roughly 11 years.
The facts
- TICKER
- REP
- SECTOR
- Failed and defunct
- CHAIN
- Ethereum
- LAUNCHED
- 2015, so around 11 years of operating history
- MECHANISM
- Decentralised prediction market with token holder reporting
- MAXIMUM SUPPLY
- 11 million
- VALUE CAPTURE
- Fee share
- UPGRADE CONTROL
- DAO governed
- VESTING
- Complete
- LIQUIDITY BAND
- Micro cap. Thin, often a single venue or pool. Treat the quoted price as indicative only.
How the score breaks down
Each dimension is explained on the directory page, and the reasoning behind it is taught in the Academy research process.
Supply and value capture
A hard maximum supply that cannot be raised without the agreement of essentially every participant. A share of protocol fees reaches holders directly, which is the strongest form of value capture available.
Changes go through token holder governance, so control is distributed but influenced by whoever holds most. Ownership is moderately concentrated. A handful of large holders could move the market.
Where it is strong and where it is not
- Historically the first decentralised prediction market, and the concept it proved is now widely used
- Development has ceased and the protocol is effectively abandoned
- High gas costs made ordinary sized bets uneconomic
- Dispute resolution could take weeks to settle a market
- Superseded entirely by newer prediction platforms
Incident history
No major exploit, collapse or regulatory action on record against this asset.
Our read
The main risk
Development has ceased and the protocol is effectively abandoned in favour of newer platforms.
Before you buy anything
Check the contract address against the project's own documentation rather than a search result or a screener link, since impersonation tokens with identical names and logos are listed constantly. Check the order book depth before assuming you can exit at the quoted price. And write down what would make you wrong before you buy, not after. The Academy thesis module covers why that single habit protects more capital than any indicator.