Kraken Launches Support for Augur Reputation Tokens (REP)
Today Kraken launched support for trading Augur Reputation Tokens (REP). The Augur team expressed their excitement for this important step in the overall Augur launch, saying:
“We all know that Kraken is one of the top exchanges in the space. This is more important: we are personal fans of the overall Kraken trading experience. We use Kraken, we trust Kraken and – this true – even Joey Krug’s mom uses Kraken! We are elated that they’re featuring REP trading on their platform. We predict that trading of REP on Kraken will be strong 🙂 “ – Augur team
The REP trading pairs available at launch include REP/XBT, REP/ETH, REP/EUR, REP/USD, REP/CAD, and REP/JPY. This follows closely on the heels of the Poloniex REP launch yesterday.
Kraken also stated that margin trading was “Coming soon”.
What is Augur? What is REP?
Built on Ethereum, Augur is a decentralized global platform for prediction markets. Augur allows anyone to create, trade or monitor prediction markets on any topic.
An essential service to the markets is a decentralized oracle that reports the final outcome of events the markets were predicting and this is where REP comes in. Owning REP and storing them in your private wallet grants the right to get paid in exchange for accurately and reliably reporting on the outcome of events. Reporters need only report correctly for the markets assigned to them but receive their share of 50% of the trading fees from all Augur markets.
The prediction markets will not be enabled until later (exact date not set – possibly a few weeks), so for now REP can only be transferred and traded on Kraken.
To learn more about Augur and REP visit the project website: https://www.augur.net/