Augur crypto prediction market abandoned as REP token in the dumps

Augur is far from its heyday as the project's native REP token continues to plummet

Augur, once described by Forbes as “a significant leap forward in the world of decentralized applications,” seems to be bottoming into a pit of despair.

The Ethereum-based decentralized prediction market, which also included sports betting, was created in 2015. Its native $REP token reached an all-time high of more than $100 in 2018, the token now sits at $2.29.

In July 2020 Augur v2 was implemented throughout the platform. Augur v2 enabled the usage of DAI stablecoins for trading and market resolutions, a new user interface, and new feeless order books. Now, it seems Augur has been abandoned by its developers.

With the token sitting -99.33% below its all-time high, the token’s discord community confirmed that nobody is actively working on the Augur platform for at least a year. Forecast Foundation, a non-profit organization made up of software developers-built Augur v1 and v2 before calling it a day.

The Augur subreddit is littered with posts asking if Augur is truly dead, some posts are more than a year old. One Redditor posting from 2 years ago claimed they sold their Chainlink for Augur tokens.

Augur’s official Twitter account has not been updated in more than a year and a representative at Augur has failed to respond to CGN when asked for comments about Augur’s current wellbeing.

It’s not unheard of for cryptocurrency projects to become abandonware or even rug pull. Whether Augur will return or not is a mystery, but the project has become yet another cautionary tale in the cryptocurrency world.

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Written by Alex Buckley

Alex is an editor at CryptoGamblingNews.com who focuses on cryptocurrency and web3 gambling.

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