v1 Cutoff Update | Augur Prediction Markets FAQ - Frequently Asked Questions

Augur v1 Cutoff Update

The road to deployment, what it means for traders, market creators, and our plan for a smooth transition to Augur v2

September 13th, 2019, 12:00 pm

The Forecast Foundation is announcing a modified version of its Augur v2 transition plan, as follows:

The target release date for Augur v2 remains early January, with a market cutoff date of January 1st, 2020 at 00:00:00 UTC. Markets that enter reporting prior to this time can now be considered safe to trade on, provided they contain a sufficiently high Initial Reporter stake (see details below).

This revision opens the door for more users to create and trade on Augur markets as v1 begins to wind down.

With Augur v2, a REPv1 to REPv2 token migration is required, putting markets on Augur v1 at a higher risk of resolving incorrectly due to the assumption that a large amount of REPv1 will swiftly migrate to REPv2, potentially leaving insufficient REPv1 behind to accurately resolve markets.

By saying markets are safe to trade on, we mean that those markets will resolve using the proper economic and security guarantees that the Augur Oracle currently provides. To read more, see the previous transition post here.

Only markets that enter reporting prior to January 1st, 2020 at 00:00:00 UTC and meet a specified Initial Reporter stake threshold should be considered safe to trade on. The closer a market’s Reporting Start Time is to the cutoff date, the higher its Initial Reporter stake threshold.

The Augur reference UI will only display markets, by default, that meet the required stake relative to their Reporting Start Time. This allows traders to continue to use Augur without having to worry about which markets are safe or not.

Any markets entering reporting after January 1st, 2020 at 00:00:00 UTC or that do not meet the specified Initial Reporter stake threshold should be considered not safe to trade on, as they are at higher risk of resolving incorrectly.

Details for Market Creators

In the “My Markets” section of the Portfolio Page, you can now see the Initial Reporter contract address and the current REP balance in that contract for each of your markets. If and only if a market’s contract meets the required REP threshold will it be visible and waited on to finalize before v2 is launched.

The required REP stake for a market is based on when it enters reporting. Each REP threshold window begins at 00:00:01 UTC on the specified start date and ends at 00:00:00 UTC on the start date of the next window (or January 1, 2020 in the case of the final window). Note that these are separate from fee windows.

Required REP thresholds