The new update has focused on patching and fixing bugs that left the platform vulnerable in relation to betting markets. The update also introduced support for the DAI stablecoin, as well as various other DeFi protocols.
Augur has been long pushing for the update, notifying that the entire ecosystem, from block explorers to wallet providers and exchanges, will all be pushing for the REPv2 contract update as well. The update was necessary to also be able to keep up with the decentralised finance ecosystem, otherwise known as DeFi.
In sorting out some technicalities, Augur has also decided to add a new market, listing “invalid” as a viable outcome for events, and thus adding another possible betting market. Should community members be aware of any Augur dApps that haven't been updated yet, their creators should be notified to comply with the system-wide upgrade.
Augur did mention, however, that the transition from REP to REPv2 is not time-sensitive at least for the time being, and developers and community members can take their time until further notice. Augur doesn't intend to suspend transfer opportunities, as it said that REP will “remain transferrable forever.”
Earlier this month, Augur announced that it was close to the update of its sports betting UI launch. Augur is a very intuitive betting platform that has pushed the limitations of traditional blockchain companies.
Augur remains a great project and the latest update confirms the pioneering technology, and we hope for further innovation with its sports betting platform.