The premiere took place: 2018-08-01
Augur's Reputation token is used for reporting and disputing the outcome of events. Reporters are rewarded for reporting correctly.
Augur is a decentralized project, based on the open-source platform. It is a forecast market, based on the popular Ethereum. Augur users can create their own markets with questions so other users can buy by betting on the result to be rewarded for a successful forecast of events in our real world.
The beginnings of the Augur platform dates back to autumn 2014, but the final version was released three years later. An interesting fact is that among the creators of the Augur there is a Vitalik Buterin as an adviser - the creator of ETH.
The REP (Reputation) token itself is a tool necessary for the entire Augur project to work properly. REP tokens are distributed by the system between users depending on the correctness of predictions of selected events. In the case that the REP holder does not participate in the predictions, his tokens are not transferred anywhere by the system.
The market capitalization of REP for June 2018 is 345 408 800 USD.