Tired of the Bear Market? Here’s an Opportunity for 50% ROI in Weeks by Being an Augur Reporter
All you need to do is tell the truth. Let me tell you how.
Augur is a decentralized prediction market protocol running on Ethereum. Anybody can create a market and anyone can trade on outcomes using ETH. The resulting winners are ultimately determined by REP holders through staking. If REP holders disagree on the correct outcome, the market goes through a series of “dispute rounds” where higher and higher amounts of REP are required to change what the final outcome will be. If the outcome you disputed for ends up winning, you earn a 50% ROI on your staked REP by taking the REP that was staked by the opposing side(s).
There has been something very interesting happening over the last few months on the Augur platform that hasn’t been talked about much yet, but will probably cause a big stir in our community over the coming month or two. There are currently a few markets that have been in dispute for many weeks, but the correct answer is very clear as outlined in the Augur Whitepaper. The current Augur Reporter community on Augur’s Discord believes that these markets are invalid, but they are being disputed by an unknown source.
Since each dispute round offers a 50% ROI, that means the total amount of REP required to fill a dispute bond rises exponentially. It’s only gotten to the point of tens of thousands of dollars today, but will hit hundreds of thousands of dollars in a couple weeks and millions of dollars in just over a month.
This market is currently the oldest one under dispute:
Will the weather be good for the Bastille day military parade in Paris tomorrow.?
https://reporters.chat/markets/0x67ef420c045f3561d11ef94b24da7e2010650cc3 (reporters.chat is a great place to discuss the resolution of markets, along with the Augur Discord)
The unknown source is disputing for “Yes”. The Augur Discord community is disputing for the “Invalid” outcome, because this market is subjective. As outlined in the Augur Whitepaper: “Only events that have objectively knowable outcomes are suitable for use in Augur markets. If reporters believe that a market is not suitable for resolution by the platform – for example, because it is ambiguous, subjective, or the outcome is not known by the event end date – they should report the market as Invalid. “
While the concept of “good weather” is an easy topic of conversation, it is something which means different things to different people and so is subjective and not possible to definitively resolve as a yes or no. The value of Augur to REP holders comes from collecting trading fees. In general, traders do not want to trade on ambiguous or subjective markets. They need to have some confidence on the objective truth for what they are betting about, otherwise Augur turns into an opinion poll. Poorly worded markets need to be punished by the platform to encourage the creation of good markets for traders to use.
There have been a number of markets which have gone through the dispute process and have been successfully resolved as invalid because they were ambiguous, subjective, or the outcome was not known by the event end date. All these disputes presented the opportunity for accurate and diligent reporters to resolve the market and earn 50% return on the REP they staked on the winning outcome.
Augur is one of the few dapps on Ethereum that are truly useful and can help give Ethereum real value over the long run. It is important that we all do our part in helping this community grow and succeed. Not to mention, you aren’t going to find a better place to earn a high ROI with cryptocurrency in the near future. Please get involved and help where you can!