All REP holders should migrate their tokens by August 1, 2026 to stay a part of the lively Augur ecosystem
Augur, certainly one of Ethereum’s earliest decentralized prediction market and oracle initiatives, right this moment introduced that the second and ultimate part of Moonfork has entered its ultimate part, with a two-month transition interval for all REP token holders ending on August 1st.
REP holders should migrate their tokens 1:1 to an outcome-specific model of REP by August 1, 2026. The transition is one-way and can’t be reversed. Tokens remaining within the legacy Augur universe after the window is closed will now not be capable of observe lively protocols and should lose financial worth. From then on, REPs that haven’t been migrated will now not be convertible.
The migration software is out there from Augur’s official fork interface (6.augurfork.eth.limo) together with step-by-step guides and FAQs.
This fork is a sensible demonstration of how a decentralized system can shield truthful outcomes with out a government adjudicating them. Its safety will depend on participation. REP protects a protocol provided that its proprietor acts.
Dwell testing of Augur’s financial safety mannequin
Moon Folks started on April eighth with an deliberately escalated controversy over the query, “Did the Artemis II mission efficiently launch within the first week of April?”
This dispute was began by Micah Zoltu, a long-time member of the Augur group, to check the complete decision technique of the protocol below actual financial situations. The right consequence was “sure”.
The method was designed to check mechanisms reminiscent of participant incentives, capital formation, dispute escalation, and token migration from begin to end. Augur entered a fork after sufficient REPs have been dedicated over consecutive battle rounds to allow the protocol’s ultimate decision backstop.
Forking consists of two phases.
Section 1: Escalation Recreation
From April to early June, REP holders have been capable of wager competing solutions via a sequence of more and more costly dispute rounds.
Every spherical required more cash than the earlier one. Members who wager on the in the end accepted final result have been entitled to returns financed by the shedding aspect, creating an financial incentive for the broader market to oppose manipulation.
“Most individuals work together with Augur throughout escalation video games, the place you compete for outcomes to see who can increase essentially the most cash. The loser pays the winner, who has a bonus as a result of it is simpler to boost cash with an final result that folks consider to be true. So on this part you attempt to outdo the attacker, and if you cannot do this, transfer on to part 2,” mentioned Phil Monastirsky, co-founder of the Riches Basis. Steward Auger.
The method of escalation continued till the battle reached the Augur watershed. Section 1 is now full.
Section 2: Obligatory REP migration
The protocol is at present divided into separate outcome-specific universes. All REP holders might want to choose a universe and migrate their REP to the corresponding token.
“We could not beat the associated fee to the attacker, so we’re now making an attempt to maximise the associated fee to the attacker by forcing them to introduce tokens that haven’t any worth,” Phil mentioned. “The protocol is cut up into tokens that correspond to attainable outcomes, and also you want 51% to win. Future Augur charges will solely proceed for truthful tokens, forcing attackers to maneuver 51% of the token provide to nugatory ones. In Augur Lituus’ design, this rises to just about 100%. So long as the price of doing so is bigger than the revenue gained from misresolving the market, we’re secure.”
Future official auger growth, funded by the Riches Basis, will proceed in house topic to a veritable profitable launch of Artemis II throughout a market-specified interval.
The Basis transferred its holdings and added liquidity to the corresponding tokens.
What REP holders have to do
REP holders should take the next steps by August 1st:
- Hold your REP in a self-custodial Ethereum pockets or ensure your change helps migration
- 6.Go to augurfork.eth.limo/#/migration
- Join the pockets holding your REP
- Migrate REP 1:1 to an outcome-specific token that corresponds to the true final result.
- Affirm receipt of latest REP tokens in linked pockets
As soon as the migration is full, it can’t be undone.
REPs held on centralized exchanges might require motion by the change somewhat than particular person customers. The Lituus Basis has been working with exchanges to help the transition on behalf of customers. Kraken confirmed help. Different exchanges don’t and holders mustn’t undertake help until explicitly said by the change. Present Alternate help standing is maintained at v3.augur.internet/#exchange-support.
Alternate help is topic to vary throughout the transition interval. Holders who can not verify help might want to withdraw REP to their self-custodial pockets and full the switch instantly.
Why forks are necessary
Prediction market platforms in the end depend on the decision course of to find out what outcomes happen and the place funds needs to be disbursed.
Many techniques depend on companies, committees, token voting, multisig, or discretionary intervention. Augur was designed primarily based on a special mannequin. That’s, it’s an open financial course of wherein members can problem outcomes and earn monetary rewards for defending outcomes that the broader market perceives to be true.
When a dispute reaches the fork stage, the REP is cut up into tokens related to every attainable final result. The holders determine which future financial actions of the protocol can be carried out by migrating to which universe.
This design shifts the safety query from whether or not a sufficiently rich attacker can quickly affect votes. As a substitute, we ask whether or not the attacker is keen to accumulate and sacrifice sufficient REPs to help a faux universe that customers, builders, and liquidity suppliers might later abandon.
Display the mechanics behind Augur’s subsequent chapter
Moon Fork is testing the Augur v2 battle structure. Though future implementations will differ from the unique system, the reside train illustrates the escalation and fork patterns that underpin Augur’s continued oracle analysis.
That effort contains Augur Lituus, a proposed modular decision layer designed to permit prediction markets and different purposes to outsource controversial real-world outcomes to open and economically safe oracles.
The Lituus Basis is funding continued work on Augur’s decentralized decision infrastructure. The prediction market platform, which is being developed via a separate Darkish Florist workstream, is predicted to help branches created via forks somewhat than the normal non-migrated REP token.
Dwell migrations show Augur’s core themes in motion. In different phrases, prediction markets mustn’t depend on a single celebration having the authority to declare what has occurred.
Necessary migration info
Migration deadline: August 1, 2026
Migration fee: 1:1
Migration standing: Required for holders who need to stay a part of the lively Augur ecosystem
Course of migration: One-way and irreversible
Migration portal: 6.augurfork.eth.limo/#/migration
House owners ought to discuss with the official migration interface and Augur channels for the newest technical directions and change help updates.
Concerning the auger
Augur is a decentralized prediction market and oracle venture initially constructed on Ethereum. Its dispute system makes use of open participation and financial incentives, and makes use of algorithmic forks as a ultimate backstop to resolve contested outcomes in the true world.
Concerning the Ritus Basis
The Lituus Basis manages the rebirth and continued growth of Augur. The Basis helps open supply growth that drives Augur’s oracle analysis and engineering.
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