DEFINITION of 'Augur REP Token'

The Augur REPutation token (REP) is the cryptocurrency underlying Augur, an open-sourced, decentralized, peer-to-peer prediction market platform.


Built on the Ethereum blockchain, Augur aims to create a highly precise prediction market that is based on the concept of “Wisdom of the Crowd” - the idea that the average prediction or reporting of enough people is far more accurate than that of a select number of experts.

On the Augur platform, one can trade on the outcome of any event, like a soccer game, and benefit by buying and selling derivatives like instruments using Augur REP tokens.

Each such event or market is created by creators who provide initial funding and liquidity by backing it up with Augur REP tokens. They receive a portion of the fee, in Augur REP tokens, for creating and running the markets. Other participants speculate on the outcome using Augur REP tokens, and win or lose the currency.

After the event is finished, a large number of participants report the outcome of the event using the Augur token (REP) and get rewarded or penalized for correct or incorrect reporting.

  1. Augur

    Augur is an open-sourced, decentralized, peer-to-peer prediction ...
  2. Crypto Token

    Crypto tokens are representation of a particular asset or a utility ...
  3. Unikrn

    Unikrn is the operator of an eSports betting platform that uses ...
  4. Simple Agreement for Future Tokens ...

    Simple Agreement for Future Tokens is an investment contract ...
  5. Gnosis

    Gnosis is an open-sourced, decentralized, peer-to-peer prediction ...
  6. Kraken

    Kraken is the world's largest bitcoin trading exchange.
Related Articles
  1. Tech

    Is 2018 the Year of the Security Token?

    With its ability to demonstrate value, security tokens could roil traditional financial markets in favor of the more hybrid blockchain models.
  2. Tech

    What is ERC-20 and What Does it Mean for Ethereum?

    Of all of the different token types available on Ethereum, ERC-20 has gained special prominence among developers.
  3. Tech

    Why Did The SEC Single Out Ether?

    An SEC official yesterday said that ether is not a security. Why did the agency, which has threatened to impose securities regulation on ICO tokens, clarify ether's status and not that of other ...
  4. Tech

    Once-Hot Cryptocurrencies: Where Are They Now?

    Attention usually goes to the latest big names. But what happened to the previously trendy?
  5. Tech

    Equity on Ethereum: Firm Offers Real Stock Through ICO

    Not a "utility token" in sight with this (sort of) ICO.
  6. Financial Advisor

    Finra Releases Q&A Guidance on Recruiting

    FINRA has issued further guidance on its recruiting practices rule, which includes clarifying the definition of a former customer.
  7. Tech

    How Much Does It Cost To List An ICO Token?

    A new post states that listing an ICO token on a cryptocurrency exchange can cost anywhere between $1 million and $3 million.
  8. Tech

    Gold-Pegged Vs. USD-Pegged Cryptocurrencies

    Cryptocurrencies pegged to the dollar or gold can offer protection from massive price fluctuations.
  9. Tech

    Why Crypto Users Need to Know: The ERC20 Standard

    ERC20 dictates the standard functions that ethereum token contracts must be able to execute.
  10. Tech

    Top 5 Cryptocurrencies by Market Cap

    In the ever-shifting world of digital currencies, these coins and tokens have come out on top.
Trading Center