Augur Completed V2 Upgrade, Integrating DeFi Features

Augur Completed its V2 upgrade and integrated multiple DeFi features onto the platform as we are reading more in the upcoming altcoin news today.

The decentralized prediction market platform Augur completed its latest upgrade and according to the announcements it was successful. The upgrade is intended to address bugs and vulnerabilities identified with the current problems and rules surrounding the betting markets to introduce support for the DAI Stablecoin and other popular DeFi protocols and to institute affiliate programs as well.

Augur revealed as well that its v2 protocol contracts were deployed on the ETH mainnet and verified on Etherscan as they noted in a statement that “exchanges, wallet providers, block explorers, and additional services will be updating the REPv2 contract addresses over the coming day.” The latest upgrade comes five years after the project’s launch in 2015 and the first incarnation of Augur was seen widely as a proof-of-concept and the new version adapted to developments emerging from the DeFi (decentralized finance) ecosystem, supporting MakerDAO’s MKR, 0x’s ZRX stablecoin and Mesh Network, Uniswap v2 oracle network, and the  Interplanetary File Systems.

The update will include “invalid” as a predictable outcome for events with the platform team looking to find a solution to prevent opportunistic users gaming the protocol’s previous resolution system that surrounds invalidated markets.
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The team is urging users to let the Augur operators and services that have not been yet updated, to know about the overhaul.

The update requires REP holders to migrate their tokens manually to new REPv2 token via the Augur client and to participate the protocol’s reporting as Augur is also keeping a close eye on the custodial exchanges regarding the platform’s different plans for token migration. But, the announcement noted that there are no immediate requirements to migrate REP to the new v2, upgraded version. Augur added:

“The only time in which migration from REP to REPv2 would become a necessity is if an Augur v2 market entered into the forking process.”

Despite the upgrade, REP Will remain forever transferable as the team that has no administrative control over the token but the old one will not offer any functional use within the v2 version without being migrated.