ShapeShift has integrated the Augur Reputation token, a tradable blockchain asset bestowing votes to users of Augur’s prediction market platform. Customers can now buy or sell Augur Reputation tokens along with bitcoin, Ethereum, Dash and dozens of additional blockchain assets.
Augur’s token is the first decentralized oracle solution implemented and allows its holders to report on the outcome of events on Augur, a decentralized prediction market platform. Each token entitles its owner 1/22-millionth of all market trading fees in return for faithful reporting on market outcomes.
Erik Voorhees, ShapeShift’s CEO, explained: “Decentralized prediction markets are one of the most important applications to derive from blockchain technology. Augur has pioneered and popularized the concept and we’re honoured to support REP on ShapeShift from day one.”
A limited supply exists of 11 million of these tokens due to the mathematical proof of ownership and a consensus of honest transaction validators. Ownership of Augur reputation grants the right to be paid in exchange for providing real-world information to Augur. By including these tokens on ShapeShift, software developers and users can immediately exchange between Reputation and assets like bitcoin or Ethereum, bringing greater liquidity to the ecosystem.
Tony Sakich, Augur’s director of marketing, commented: “ShapeShift is known throughout the crypto space as one of the best services for digital asset users. New users will have an incredibly easy to use method to convert cryptocurrencies into REP tokens and vice-versa. It’s wonderful to have such an easy tool to recommend novice users who are interested in REP for the first time!”