For today’s announcement, we have a little bit of a twist. For the past several weeks, you’ve seen us release major cryptocurrencies like BTC, XLM, XRP, DASH, ETH and many more. We chose these coins to your requests, as they are some of the most popular and useful cryptocurrencies. But now, you are witnessing YouHodler history. That being said, we are proud to announce the addition of our first token, Augur (REP) to our family.
Augur is a decentralized prediction market that can forecast the outcome of an event based on the “wisdom of the crowd” principle. Using this method, information collected from the crowd is averaged into the most realistic possibility and therefore the most probable outcome. For those that get the correct prediction, they are rewarded by the network. Incorrect reporting is penalized. Hence, this incentivizes truthful reporting. Another fun fact is Augur was the first major decentralized app (dapp) developed using Ethereum. Raising 2,000 BTC and 100,000 ETH on its first day alone, Augur cemented itself as a mainstay of the cryptosphere, with its native token (REP) as it’s the backbone.
There are a variety of unique features that Augur offers like the Augur Ecosystem, where developers, projects, and companies come together to build the Augur protocol. For those not familiar with the Augur and what they’re all about, we recommend visiting their site because they have some impressive accomplishments in this industry.
Just like all the other cryptocurrencies we feature on YouHodler, users can use Augur (REP) as collateral for a fiat or stable coin loan of their choice. In the future, users can convert, REP to any of YouHodler’s listed cryptocurrencies (BTC, BCH, ETH, LTC, XLM, XRP, DASH), stablecoins (USDT), or fiat options (USD or EUR). From there, it’s possible to withdraw your fiat loan directly to your chosen credit/debit card. For REP holders, this is great news as you can now utilize the value of your holdings in the real world without having to sell your prized REP assets.
We know the Augur community is a passionate one that has been through the ups and downs of this crypto market since 2015. They have a lot of valuable experience they can bring to your platform and we are happy to start this collaboration at this stage of our platform’s evolution. Adding Reputation token (REP) will definitely enhance our reputation to others in the crypto space and we couldn’t be happier about it.
If you have any further questions about what Augur is and how you can utilize this token on our platform, please talk to one of our admins on Telegram or contact firstname.lastname@example.org.
As always, thanks for your support and stay tuned for more great news coming soon.