Augur -Updated details+ New devlopment update

  • Augur Weekly Development Update — May 31st

    A re skin of the main account page will be merged in the coming days, wrapping up all the full-screen re skins before we begin working with IDEO. Our six week collaboration with them starts next week!

    Also starting on Monday, Sergio Lerner will begin reviewing and auditing our data API and trading contracts. Sergio is a well respected cryptocurrency security consultant, and will be drafting a report with his findings. Audits are moving forward as planned, with the reporting contracts coming next down the line.

    You can watch Olaf Carlson-Wee of Polychain Capital talk Bitcoin, Ethereum, tokens (and Augur!) on Bloomberg this morning here.

    Please reach out to us with any questions, or if you want to contribute to Augur! You can find a list of previous development updates here.

    — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — -Technical Updates: — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —-

    May 30th, 2017:

    augur:  - Updated dev log from main.jsx & stub for account core stats selector test.  - Added tests for account-nav-items and asset type constants. - Full pass over codebase to update ETH nomenclature.  - Reformatted ternaries and chains calc-order-profit-loss-percents. - Removed unnecessary conditions in generate-trade.

    augur.js:  - Fixed tests for splitOrder, selectOrder, positions, placeTrade, parametrizeOrder, executeTrade, and buyAndSellShare.

    May 29th, 2017:

    augur:  - Flipped locations of ETH/ETH tokens and cleaned up the wording. - Export view now displays a QR for the privateKey with a button to download the encrypted keystore. - Added ability to export loginID file.  - Refunded styling and transitions of AirBitz account export.

    augur.js:  - Fixed tests for tradingActions, submitReport, and submitReportHash.

    augur-core: - Updated trading escape hatch & signatures. - Throw if cost-per-share equals market range.

    May 28th, 2017:

    augur:  - Update generate-trade with for additional profit/loss return values. - Added profit / kiss + percent returns to outcome-trade-summary.  - Add more tests for calc-order-profit-loss-percents and cleanup.

    augur-core: - Updated and fixed data_api tests for testing compatibility.  - Added new emergency stops.  - Updated with new controller signature.  - Finished controller emergency stops, with tradingEscapeHatch in progress.

    May 27th, 2017:

    augur:  - Added profit and loss module and tests.

    May 26th, 2017:

    augur:  - Beefed up export component to have better messaging/security around encrypted generation.  - Initial inclusion of transition group to encryption password confirm.  - Saved current progress on account-export-airbitz component.

    augur-core: - Updated compiled files, contracts.json, and API maker script.  - Added upload to chain script to upload_contracts folder.

    May 25th, 2017:

    augur:  - Updated validation, error messaging, and generalize some of the form styling.  - Style fixes and properly validating transfer form.  - Moved keyfile encryption and generation methods to auth helpers.  - Fix to link component to properly accmodate data hrefs.

    May 24th, 2017:

    augur:  - Initial structural layout of transfer component. - Moved convert ETH actions to auth module.

    — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — —-


    The Augur Team

  • A Roadmap For Augur and What’s Next

    The Augur core dev team has been making progress towards our platform release. In spirit of keeping everyone on the same page, we wanted to inform the community on what you can expect to see in the near future.

    What will be in the initial Augur release?

    The ability to create markets: binary (yes/no), scalar (a range of values, i.e. how many iPhones will Apple sell in Q4, how many inches of rain will fall in x location, etc.), and categorical (will it be Trump, Hillary, Johnson, or other?), the ability to trade, and the ability to resolve markets using reporting with both backstops implemented will be in the initial launch.

    Markets denominated in other markets, like trading upon the outcomes of “What will GDP be granted that Kanye wins?” will be possible. To hedge against the possibility that Kanye loses, you can also short an equivalent amount of “Kanye Will Become President in 2020” shares. This is possible due to the markets’ shares being ERC-20 tokens, but needs to be implemented in the UI (uncertain whether that’ll make it to MVP launch in the UI, but it’ll come eventually).

    There’s tons of things that could be built around Augur, adding features to Augur, or additional contracts interacting with Augur, but none of it needs to go in the core platform at this point.

    In order to have the full security model of reporting, both the backstops of everyone reporting on a given event and forking need to be available, otherwise the incentives aren’t setup properly, and it wouldn’t be too difficult to resolve a market wrongly. We don’t want someone’s first experience with Augur to be something where they buy Kanye shares, he wins, and then the oracle says Trump won: the backstops are needed to prevent that. A diagram of the process is below, and a dispute works by posting a reputation bond. If the dispute was valid and the initial outcome was wrong then you get your bond back and more rep. If you posted a dispute and it wasn’t needed (i.e. it was reported on correctly the first time), you lose your rep bond.

    Below is a diagram of the current reporting process, which is about 6,000 lines of code shorter than the old process:

    What was removed for launch?

    These things were removed for complexity reasons:

    • Events resolving early (so instead of making “Will Elon ever make it to Mars” and having one market until say 2040, instead users should make markets like “Will Elon make it to Mars by the end of 2018?” and another one for 2019, etc.)
    • The reporting commit and reveal has been removed because it’s unneeded complexity and cost (if people collude, the system will just end up going to the next backstop). This was suggested by Vitalik long ago and we finally got around to removing it.
    • Markets with more outstanding shares in the first wave of reporting (limited reporter numbers) getting more reporters was removed.
    • Indeterminate, unethical are all lumped under one invalid now.

    What will be in future Augur releases?

    • More than 8 outcome markets, perhaps using the LS-LMSR, since it’s actually good for things like this — these add a lot of complexity and don’t work very well when using an order book so they were removed for the time being.
    • Allow markets denominated in other currencies (as opposed to just ETH + other markets themselves) which requires that the currency has an ETH exchange rate with a decentralized exchange so we can count it towards outstanding share value which is needed for the reporting system.
    • Town Crier,,, and RealityKeys as first resolver options built in the UI (and using the reporting system as a backstop, which allows for much quicker market resolution most of the time).
    • Off chain trading using the 0x protocol.
    • State channel trading.
    • A more mobile friendly UI.


    For audits, we want to have experts inside and outside the community review the code, and then we’ll implement the fixes and share the reports. Audits are in progress and will be continuing over the upcoming weeks. If you know anyone who you think would be good please email us at [email protected], we’re always looking to add more people who can further audit our contracts!

    Release Schedule

    1. Security Audits (in progress)

    2. Code Bug Bounties

    3. Bug Bounty Prediction Market Release

    4. Augur Lite release with a maximum amount of shares outstanding / open interest in the markets (meaning only a small amount of money can be locked up in them). Alternatively, make it so users can only deposit a maximum amount, say, 5 ETH.

    5. Full Augur Release

    We want to launch slowly. In the beginning the core dev team will essentially have carte blanche to modify things, replace / upgrade contracts, etc in the case of a fault event or vulnerability after launch. The idea is to sort of start with “training wheels” and slowly remove them over time as the system proves to be secure. If something went wrong we could quickly update the contracts. If we maliciously updated them a fork of Augur would almost certainly develop, which is good! Early on the probability that the developers are malicious is lower than the probability of bugs and vulnerabilities. Later on we can switch to a decentralized way of updating things.

    The Decentralized Mode for Updating:

    • Contracts must be updated by a re-upload, people can transfer their rep / claim it on new contracts, traders & market creators cancel orders and migrate to the new contracts.
    • For bugs found involving money or rep, contracts are locked and an escape hatch is enabled which allows withdraws of shares and cancelling orders for a value half way between the bid-ask spread at the time of the lock and another escape hatch is enabled which allows withdrawal of any bonded rep or rep being used for reporting. All rep in the ERC-20 contracts is fungible as usual so it can migrate to the new contracts. All ether is withdraw-able but ERC-20 wrapped ETH transfers are disabled on the old contract.
    • When a bug is not found and it’s just some, for whatever reason, backwards incompatible upgrade, people should be allowed to migrate over to the new system. I.e. don’t emergency stop + withdraw at fixed price, instead allow users to trade around and sell complete sets and or wait for any straggling REP to resolve their markets. Ideally we’d be able to just add additional contracts for most new features and updates most of the time though, making this not required.

  • Augur Weekly Development Update — June 7th

    This past week Joey Krug published “A Roadmap For Augur and Whats Next” — highlighting
    what will be in Augurs initial release, what was removed for launch,
    what will be in future releases and a release schedule. If you haven’t
    read it yet, you can find it below:

    We started our work with IDEO this past week, which will run for the next six weeks. Their team is excellent, and Sprinkle & Tom will be with them at their offices working through user on-boarding, experience and the UI.

    The account re skin is just about finished up minus some tests, and we merged the potential profit / loss calculation for when you’re making an order. A sneak peek of the new accounts page can be seen below:

    Joey Krug also spoke at Token Summit this past week, and his panel has been uploaded to YouTube:

    Our audits are still in process, and we have another group that will be beginning our trading contracts at the end of this month (more details next update). Sergio should have some initial feedback for us by next week.

    As always, reach out to us if you have a question or want to contribute!

    Technical Updates:

    June 6th, 2017

    - Remove object/prop duplication in outcome-trade-summary.  - Import classnames modules as className from account-view, report-form, and value-denomination.  - Added tests for update-is-mobile and update-footer-height action.

    June 5th, 2017

    - Refactor Checkbox to class component and append tooltip if truncated.  - Added Mac OSX 53.0.3 text-overflow fix.  - Reduce sidebar widith to 260px and truncate tags.

    June 4th, 2017

    - Updated AirBitz management method and added tests.  - Updated tests for transactions selector.  - Fixed load-account-data test and update assets.  - Cleaned up deprecated tests and fixed login-account selector test.

    June 3rd, 2017

    - Updated mock augur getAdjustedPositions namespace in tests.

    June 2nd, 2017

    - Fix to create market review.  - Updated build & firebase deploy target.

    June 1st, 2017

    - Updated lock & refactored for consistency.  - Moved generate-trade helper to trade module + inverted max/limit conditionals for reduced cognitive load. - Refinement to the profit and loss calculator.  - Implemented fix to totalCost calculation for scalar markets and updated its tests.


    The Augur Team

  • Augur (REP) Master Plan

    Augur’s purpose is to democratize and decentralize finance. We’ll do this by enabling anyone, anywhere, at anytime in the world to create and speculate on derivatives at a low cost for the first time. If Bitcoin gave us decentralized currency and Ethereum brought decentralized computation, Augur will enable a decentralized financial system. We have cryptocurrency, now we need something to use it with. As a side bonus, prediction markets give us better forecasts for the future, more direct hedging and speculation mechanisms, and finally fulfill the vision set out by Hayek[¹] and Arrow & Debreu[²] long ago.

    The first version of Augur will likely be somewhat slow and slightly expensive (think pennies and many seconds per trade), but it’ll certainly be a beautiful glimpse of what’s to come. Any new technology has higher costs in the beginning and lower costs once it’s more optimized later on. The long term plan is to overtake all derivatives trading though liquidity and network effects, although in the beginning these limitations mean the first markets and activity on Augur will be surrounding new markets or markets that are currently expensive or limited in certain ways. Think Chinese and Russian investors wanting to speculate on US stocks, or vice versa, people wanting to speculate on sporting events more cheaply, or people who just want to create a new market for something that doesn’t exist at the moment due to multi-million dollar startup costs for creating a new financial derivative. With augur we can remove that million and drop the cost down to “multi dollar.”

    Since it’s run on Ethereum, it cuts out the middlemen and brings costs down to the economic minimum to operate things securely. On Betfair you’re paying 10%+ fees, on Augur it’ll likely be 1% or less. For the first time people will be able to trade on a censorship resistant, global trading platform without having to trust counter-parties. Liquidity will be truly global because Ethereum doesn’t care if you are from China or the US or Russia, you’re just a pseudonymous address.

    Futures contracts will resolve without trusted third parties, but instead with a security model similar to Bitcoin or Ethereum themselves (vulnerable to 51% attacks, but always forkable in the event of one). In Augur’s case a fork is much more clear cut because it’s over reality, people won’t want to trade or make markets on a platform where it says Obama lost the 2012 US Presidential election. People will even be able to use leverage (using scalar markets on Augur you can effectively get leverage). For example, a market on the price of Apple with a range of 150 to 250 is more levered than one from 0 to 300. Leverage is when for every dollar you bet your position is equivalent to some lever ratio, so 3–1 leverage means for every dollar your position goes up or down you actually lose 3 or gain 3 dollars. This is in contrast to margin, which is when you are borrowing money or shares to buy or sell. Margin with margin calls is functionally almost the same as leverage in practice.

    Once 0x is out later this year or next faster trades and dark pools will be possible. 0x enables partially off chain trading so people can create, modify, and cancel orders quickly without having to post a transaction to Ethereum each time. This’ll also decrease costs for placing and taking orders in general. Dark pools being a desirable thing may come as a surprise, but big whales aren’t going to want to be moving the market by placing super large orders on the book, they’ll prefer dark pools just as they do in traditional financial markets. Proof of stake will help with faster trades as well since block times will decrease by about a factor of 3.

    While the initial version of Augur will have markets denominated in ETH (which although that’ll work fine for short term trading / markets), for longer time horizon events the volatility will be too high. You don’t want to go long “Apple” on Augur, be right about the company, and end up losing money due to Ether volatility. The solution to this is to allow markets to be denominated in stablecoins, or cryptocurrencies that are stable with respect to the dollar or other fiat money. Makerdao is working on stablecoins, and we do actually also get part of this to some degree out of the box. On Augur you can make a market speculating on the price of ETH in USD denominated in Ether as a way to get a rough stablecoin where one side is levered long ETH and one is short ETH but long USD. Since the collateral/currency it’s denominated in is in ETH the short side is effectively the stablecoin and the long side is effectively levered ether. If Maker is out by then and live it’ll likely be a superior option though.

    We’ll also need to add the capability for automatic rollovers via an additional contract; I wrote a high level interface for a contract to do this the other day. The idea behind automatic rollovers is when you’re speculating on a prediction market, say an ETH-USD one, they have expiration dates like futures markets, so you can’t just buy one side and hold indefinitely. An automatic rollover contract would buy perhaps the “What will ETH be at the end of June?” contract. When June is over it’d sell the complete sets for June and take the remaining funds and buy complete sets for the July contract. People would actually be buying shares in this pseudo-ETF that always owned the current month ETH price market and automatically rolled over by selling the last month’s positions each month. This would enable users to just buy one asset and hold instead of having to exit each month and buy back in manually. Compared to regular futures contract rollovers, with this type people would just be paying the complete set fees, but not losing any money due to market movements from exiting and entering a position. Based on some napkin cloth math, they’d likely be a better deal, and certainly no worse than existing futures ETF tracking error (some of the top oil ETFs over the past year had a 75% cost compared to spot price returns, crazy)!

    The main remaining piece of the puzzle is to enable more transactions per second, which means using sharding and/or raiden. This is probably the hardest and furthest off. My estimates for the various pieces that’ll help with it:

    — Proof of stake (about 1 year and perhaps a 3x improvement)

    Wasm (2 years and a 10x improvement due to much more efficient and faster contract execution times)

    Sharding (3–5 years is my estimate and a 100x improvement)

    Raiden (1.5–3 years and a 1000x improvement)

    Once we have it though, we’ll finally have a system that could take over all of the world’s derivatives markets, and that’s pretty damn powerful.

    In Short

    1. Release a v1 (“Buffett”) according to the release schedule, it’ll be cool, pretty, and a bit expensive

    2. Integrate 0x and release a v1.5 that allows partially off chain trading so people can create, modify, and cancel orders quickly (“0/Zero”)

    3. Integrate Maker once out (or if not out, explain how to use / create contract for difference stablecoins) and release a v2 (“Soros”)

    4. Add automatic rollover contracts

    5. Release a v3 with super high transactions per second using sharding and/or raiden (“Simons”)

    What is needed to make a killer derivatives app / prediction market platform

    If Augur is to succeed it needs to be 10x better than than any existing system, and this is what is needed:

    1. Fees lower than current options available (e.g., \< betfair)

    2. Censorship resistant and trustless global trading platform

    3. Ability to create your own markets

    4. Markets that resolve without a trusted third party

    5. Stablecoins (cryptocurrencies that are stable with respect to the dollar)

    6. Faster trades

    7. Higher transactions per second

    8. Margin

    9. Leverage

    10. Automatic rollovers

    11. Dark pools

    [¹]: Link to knowledge and society


    (written by: Joey Krug)

  • Augur (REP) Weekly Development Update — June 21st

    This past week part of our team spent most of their time with IDEO, while we also continue to iterate on and further test our contracts. The design work is going extremely well, everybody on the team is very happy with what we’ve seen and we look forward to sharing their work with you when the collaboration is wrapped up.

    Audit reports will be shared after they’re complete, to ensure a non-biased approach from developers reviewing the code. We have some new members joining the team very soon too, and they will be properly introduced after their first day :)

    Our StackExchange proposal is now up to 72%! If you haven’t already, please commit and share with your friends who may have a StackOverflow account with 200 reputation. A StackExchange for Augur will be a great way to aggregate answers to questions, as well as further grow the community.

    Augur — A Stack Exchange Proposal
    Proposed Q&A site for developers, economists and users interested in the open source, decentralized, prediction market…


    Please reach out to us if you’re interested in auditing parts of our codebase (middleware, serpent compiler, or contracts), or just have any questions!

    Click here to join the Augur Project on Slack!
    Stay up to date with daily conversations and discuss with other Augur community members!

    Technical Updates:

    June 20th, 2017

    - Fixed a multiplication issue with makeOrder, updated WCL_tests to re-randomize numbers if they will make unrealistic orders.  Updated README for augur-core to be more specific.  - Updated requirements for augur-core.  - Updated tests for cancel-open-orders-in-closed-markets, next-report-page, pagination, update-selected-page-num and update-selected-filter-sort.

    June 19th, 2017

    - Added emergency stops tests in augur-core.  - Merged account re skin into master.  - Refactored inclusion of PropTypes due to react depreciation.  - Add contitional to prevent reference to value or state changes to unmounted components.

    June 18th, 2017

    - Ran all tests against the contracts. - Fixed a bug in - Fixed trading escape hatch and got tests passing for it.

    June 17th, 2017

    - Moved contract from extensions to functions folder.  - Updated and debugged the controller for augur-core.

    June 16th, 2017

    - Refactored and simplified WCL tests, cleaned up lots of duplicate code. - Added best/worstOrderID price comparison to findBoundingOrders.  - Added take-then-make and take-then-take publicBuy and publicSell tests. - Refactor to load-markets-by-topic. - Removed unused markets-tags.jsx.

    June 15th, 2017

    - Added getBetterOrderID and getWorseOrderID methods to  - Added ez-mode buy and sell functions to new extensions/ contract.  - Added event logs assertions to take orders tests.  - Updated tests for generate trade, auth login account selector, auth action update assets, auth actions transfer funds, and account selectors core stats. - Added OSX Firefox 53.0.3 text overflow fix.


    The Augur Team

  • Augur REP Bounties

    Out of the original REP distribution, the Foundation held a bit of REP for community bounty payouts. We’re pleased to announce a payout to Beau Gunderson, who wrote a Serpent linter!

    serplint - 🐍 a linter for

    The Serpent linter catches any undefined variables, making it so our engineers don’t need to manually find them. If you add all the time up, this issue has caused weeks worth of lost productivity over the lifespan of the project. This tool is extremely helpful to our development team.

    While we don’t have guidelines defined for bounties, we’re always open to seeing what people want to contribute towards. Anything we find useful can have a bounty case made for it. Bounties are paid in REP and the amount is defined by our team after assessing your contribution.

    Join our Slack and let us know if you want to work on something!


    The Augur Team

  • Augur Weekly Development Update — July 5th

    We’ve been preparing for the on-boarding of a couple new employees, such in updating our documentation, conventions, and internal guidelines for developers. Next week we will include the three new team mates in our update, all engineers.

    IDEO is now halfway done, and producing some great results. Their team really took the time to understand every in and out of Augur, and it shows in their work. We hope to update our branding and main landing page in the next week with what IDEO made for us — and share the full app mockups once our engagement is complete.

    Augur was featured in Wired this week with Numerai and Blockchain Capital, a piece that will be in the upcoming print magazine:

    The Blockchain Fuels Startups — Unlike Any You‘ve Ever Seen
    Bitcoin was hailed as the digital currency of a utopian future, but, at least in the US, few people use it. (At…

    Be careful of phishing attacks with MyEtherWallet, attackers have been spamming many crypto chat rooms:

    Tom will be talking about Augur and the release schedule at this months San Diego Bitcoin Meetup, and our StackExchange needs just 20% more committed! Please reach out to friends with StackExchange reputation if you’d like to help out.

    As always, join our Slack to keep up / ask questions!

    Join Augur Project on Slack!

    Technical Updates:

    July 4th, 2017

    - Refactored transactions loading actions to be a component instead of just a function to allow for full exporting of transactions. - Fixing function call name for isContainerForDisputeBondToken(). - Add explicit requires to the potentially unsafe subtraction caller functions and ref those in the comments. - Modify fixmes to note why the bare subtraction operation is safe without safesub.

    July 3rd, 2017

    - Augur.js updates: price normalization, removed old trading files, order book price normalization, and generate order update. - Started working on adding export all transactions button. - Fixing typo when calling createDisputeBondToken(). - Only call reputationToken.transfer() if amount to transfer is > 0.

    July 2nd, 2017

    - Migrates tradingEscapeHatch and associated tests to new reporting / testing infrastructure.  - Simplified fix helper and standardizes usage across the project to be strings everywhere.

    July 1st, 2017

    - Fixed bond payout logic.

    June 30th, 2017

    - Added additional routes - More test work, adds some fixme/todos, logs, and fixes some more bugs in augur-core.

    June 29th, 2017

    - Fix to fees not re-calculating and fixed resize event handler attachment. - Added a check for create-market-preview setStates to ensure create market fields clear when creating a new one. - Fix to validate that the share token is a share on the current markets branch. - Slight merge of switches to the new reputation scheme.


    The Augur Team

  • Augur (REP) Weekly Development Update — July 12th

    This week, we’d like to welcome both Alex Chapman and Jackson Broussard to the Augur team! As a back-end developer, Alex will be working on the contracts, focusing on incorporating feedback from audits and testing. As a front-end developer, Jackson is starting to build out IDEO’s new designs for the Augur client. They can both be found in our Slack as @achapman and @jackson, be sure to welcome them aboard if you see them in a channel!

    As our IDEO engagement is wrapping up, we’re planning out the roadmap for the new client skin. Their team really took the time to understand Augur and how trading works; they’ve taken input from our entire team, Ron Bernstein, and a dozen or so generous community members who gave us their time. We will release an interactive mockup of the new app once all the screens are finalized at the end of our collaboration.

    SmartContractSolutions wrapped up their audit of the Serpent compiler this past week. This was a big task for them, and they delivered great work. Our engineering team will be working with the Serpent maintainers on incorporating the findings over the next few weeks. This is all being documented and will be published with the rest of our audit reports upon completion.

    A reminder that we will never, ever, send you a bot message / direct message on Slack about anything related to tokens. There are rampant MyEtherWallet phishing links going about, some coming from the official slackbot. As a best practice for MEW users, always be sure to type the URL yourself into the browser. Never access your wallet with a link you clicked from anywhere.

    We created an #announce channel in the Augur Slack that all official communications will come from. You can join our Slack here.

    Last but not least, our StackExchange proposal is up to 92>#/strong###. We only need 8% more committed to get our own beta StackExchange site. Any help taking it the final mile is much appreciated from our whole community!

    Augur — A Stack Exchange Proposal
    Proposed Q&A site for developers, economists and users interested in the open source, decentralized, prediction market…

    Technical Updates:

    July 11th, 2017

    - Updated latest fixes to the contracts re: feedback. - Sorted markets within reporting window based on OI in augur-core. - Fixed an auto-login issue / bug. - Started adding AugurUI: Conventions section to the docs. - Added an additional test for the loadMoreTransactions method.

    July 10th, 2017

    - Updated tests for trigger-transactions-export-test.js - Removed method constants as they only really appear in constructRelayTransaction, replaced hardcoded eventAPI strings with constants in the transactions modules section of the code. - Employed transactions constants across other modules outside of transactions where appropriate.  - Added sortedLinkedList, factory, and tests to augur-core.

    July 8th, 2017

    - Reshuffled the code examples to attempt to fit the UI convention sections better. - Switch to helper functions for processing provided hints.

    July 7th, 2017

    - Work on sandboxing the changes to the way topics and markets are sorted, and displayed to IDEO’s design.  - Adding bond payout test file. - Fixing circular dependency with dispute bonds.

    July 6th, 2017

    - Added tests for transactionsExport action creator and reducer.  - Refactored again to remove state addition, added a callback to loadAccountHistory.  - Updated my-reports, my-positions, and my-markets to pass the correct props to transactions-loading-actions.

    July 5th, 2017

    - Fixed an issue in the animations where slow speed animations we’re not being properly defined.  - Updated UI conventions docs work.


    The Augur Team

  • Augur Weekly Development Update — July 19th

    This past week our new engineers have been ramping up, and we’ve been reviewing feedback from auditors. Our engagement with IDEO has wrapped up(!), and the development of the new client skin is underway. Rather than posting mockups, we will be deploying a new development server that will incorporate the new design as it’s being built. This will come once we have a few of the core screens completed. IDEO really did a great job, and we can’t thank their team enough. We look forward to sharing their work with you!

    Augur - A Stack Exchange Proposal
    Proposed Q&A site for developers, economists and users interested in the open source, decentralized, prediction market…

    We completed our StackExchange proposal last week(!!), meaning our private beta will go live to all the committers this upcoming week! Thank you to everyone who participated, committed and shared, soon enough we’ll have a universal place where we can answer questions from the community.

    A reminder to avoid scams in crypto Slacks, unfortunately this is still an issue. Please report the phishers Slack accounts to team admins.

    We will have some more information in the next week around the status and results of some of our audits — stay tuned! Our docs are also being updated at, for all the developers out there.

    Join the Augur Project community on Slack!

    Technical Updates:

    July 18th, 2017

    - Committed locally working tests on the contracts.  - Completed the market section of call API in docs. - General progress update on the new skin.

    July 17th, 2017

    - Fixed requirements and did a bunch of merges for augur-core. - Started call API updates for develop contracts. - Add Shifty for value animation.  - New styles and structure (very) roughly in place.

    July 15/16th, 2017

    - Fixed bytesToHexString to only add 0x once. - Fixed other cash tests and debugged, and the trading tests. - Fixed timestamp issues by switching block to head_state. - Latest tests update for contracts.

    July 14th, 2017

    - Fixed log listeners.  - Fixed sortedLinkedList tests.

    July 13th, 2017

    - Fixed an ordering issue, added last item check, and fixed off by one errors.  - Added remove to iterable map and delegator todo back in. - Removed block num todos, reporting switched to timestamps due to block num not working / confusing people, as long as the systme is fine with strictly incrementing time but not second level accuracy (but min. level for sure) — it’s fine.

    July 12th, 2017

    - Make sure hex stings have even lengths in contracts. - Added tradeGroupID to takeOrder functions; changed orderId to orderID for consistency. - Got contract tests to pass with Beau’s gas fix.  - Updated expiringEvents API call, APIs markets, and reporting contracts for call API in the documentation.


    The Augur Team

  • Augur Weekly Development Update — July 26th

    Our front-end team has been working away on the IDEO resign, where the active work will be deployed to theAugur Development Server. You won’t see much of a difference just yet, but changes are coming!

    The documentation coverage is making way, and our back-end team is evaluating the Serpent compiler feedback along with wrapping up some testing for the bond payout logic. Security audit status will have its own update soon.

    We’ve hired on one more front-end developer, and an intern back-end developer. Both will be introduced upon their proper start date. A bunch of the team is based around the SF bay area now, and we plan to co-locate some of our engineering work within the next month.

    Join our Slack, (and watch out for scammers):

    Join the Augur Project community on Slack!
    Stay up to date with the latest

    And you can still commit to the StackExchange before the beta goes public to obtain access:

    Augur - A Stack Exchange Proposal
    Proposed Q&A site for developers, economists and users interested in the open source, decentralized, prediction market…

    Technical Updates:

    July 26th, 2017

    - Updated docs: started transactions api, added registration token transactions to the transactions API. Completed the reportingToken transaction API section.  - Reinclusion of the markets header and merged in routing refactor. - Conditionally load markets from component based on current location. - Fixed the dispute bond tests.

    July 25th, 2017

    - Bug fixes for & increasing gas limit for our own testing. - Fixing remaining bugs found after testing all test cases in bond payouts. - Added new logo, small cleanup / and performance improvement.  - Fixed publish wrapper.

    July 24th, 2017

    - Fixed forked token redemption and added scalar test cases.  - Added redeeming of registration tokens & other bug fixes to dispute bond token test script.

    July 22/23rd, 2017

    - Updated ABI labels.  - Split api.json to events.json and functions.json; method -> name.

    July 21st, 2017

    - New client: full Markets nav functionality (+tags), framework for future side-nav functionality, top bar now displays stats, general style fixes, light clean-up.  - Modifying to use categorical market and renaming it. - Updated docs: added topics, orders, and orders Fetcher contract to call API. - Restore the original contract mapping on reset. This seems the cleanest way to keep consistent mappings when resetting.

    July 20th, 2017

    - New client: Sidebar nav basic implementation, inner nav congruent with design + usable for selecting markets, “origami” SVG additions.  - Updated docs: added registration token section, ERC20 getters to registrationToken, reputation token, cash contract and share token to the call API section.


    The Augur Team

  • Augur Serpent Compiler Vulnerability, REP & Solidity Migration

    Update: REP migration is complete!

    If you are a REP holder, there is nothing you need to do!

    New REP contract : 0xE94327D07Fc17907b4DB788E5aDf2ed424adDff6

    Note to EtherDelta and Oasis users: We are diligently working on getting EtherDelta and Oasis users refunded as quickly as possible, but we want to be careful to get it right since the refund is coming out of our pocket.

    Augur’s smart contracts are currently written in Serpent, a low-level programming language that pre-dates the widely-used, higher-level Solidity language. This past May, we hired Zeppelin Solutions to perform a formal security audit of the Serpent compiler. After two months of review, Zeppelin has published their audit results. [1]

    The most hair-raising finding in Zeppelin’s audit report is a previously-unknown buffer overflow vulnerability in the Serpent compiler. This, combined with Serpent’s un-enforced types and a bug in Serpent’s computation of memory addresses, caused a non-loss-of-funds vulnerability in the REP token contract. The vulnerability allows someone to increase the token creation timestamp, indefinitely disabling transfers of the token. For a technical breakdown of the vulnerability, please read Zeppelin’s analysis.

    Over the past two weeks, Augur and Zeppelin have been working around-the-clock on a strategy to migrate REP to a new, secure contract. The new REP contract is written in Solidity, and is derived from OpenZeppelin’s ERC20 token contracts, which have undergone extensive security audits. Today, at 10:01 AM PST, the Augur team intentionally triggered the vulnerability, increasing the creation timestamp by about 31 billion years. The old Serpent REP contract is now frozen: REP transfers can no longer be carried out using the old contract.

    Right now, we are copying all REP balances to the new Solidity REP contract. If you are a REP holder, there is nothing you need to do! As soon as the REP migration is complete, your REP balance will be exactly as it was before the migration. The REP migration should only take a couple hours, if all goes well.

    Serpent REP Token Link // Solidity REP Token Link

    We notified exchanges, wallets, and block explorers on 2017 July 27 at 10:00am PST. The Augur and Zeppelin teams are currently working with them to update their software to use the new REP contract.

    Confirmed: Poloniex, Kraken, Bittrex, Liqui, Bity, Gatecoin, BTER, Mr.Ripple, GateHub, HitBTC, ShapeShift, Changelly, Jaxx, Parity, MyEtherWallet, MetaMask, OASIS and EtherDelta

    Non-Confirmed: EtherScan, Exodus, EtherCamp, Yunbi, Cryptopia, BX Thailand and CryptoDerivatives

    Our technical team takes Augur’s security extremely seriously. This is why we paid to have the Serpent compiler audited, and why we are deeply concerned by the audit’s results. Whether or not to migrate Augur’s smart contracts to Solidity has been a topic of ongoing debate within our team for over a year now. However, after reading the Serpent audit report, our back-end team is now in unanimous agreement: we have to migrate to Solidity.

    We estimate that migrating all of our smart contracts (about 4,400 lines of code total) to Solidity will take about 6 weeks. The migration will be a simple translation from one language to another. This is a straightforward process, similar to translating a document written in English into another language you’re fluent in, then running your translated text through a series of tests to ensure nothing was lost in translation.

    Our team is focused on the REP migration today. Please join our Slack if you have any questions about either the new REP contract or the Solidity migration. We will post a follow-up as soon as the REP migration is  completed!


    [1] We shared a draft of the compiler report with Vitalik, which prompted his tweet about Serpent: “PSA: I now consider Serpent outdated tech; not nearly enough safety protections by current standards.”

  • Augur Weekly Development Update — August 2nd

    This past Friday in collaboration with Zeppelin Solutions, Augur disclosed a critical non-loss-of-funds vulnerability in the REP token contract. The Augur team intentionally triggered the vulnerability, freezing REP for 31 billion years. New REP using the Zeppelin Solutions Solidity ERC20 contract was issued out to all REP holders hours after the freeze. The migration went just about as smoothly as it could have, taking a total of ~4 hours from the initial freeze to publishing a new contract address with all new REP distributed.

    If you are a REP holder, there is nothing you need to do!

    Almost all exchanges, wallets, block explorers and services have updated to the new contract address. Let us know in Slack if you see a service that has not updated their REP address. We’re working on refunding EtherDelta and Oasis users this week, and will have an update following.

    Details are available in our previous post:

    The Serpent compiler audit was the initiator of discovering this
    vulnerability. The full Serpent audit report by Zeppelin Solutions can
    be read below:


    In light of the audit results, our back-end team is now in unanimous agreement: we have to migrate to Solidity. The conversion from Serpent to Solidity is estimated to take six weeks. In this time, we are also looking to get both the Solidity and Viper compilers independently audited.

    CoinDesk did an article today on moving off Serpent:

    The new IDEO client is coming along, and we’ve updated a bit of our
    branding across some of our social profiles. The Augur beta
    StackExchange went live yesterday, if you committed, you can now ask and
    reply to questions!

    If you have any questions regarding the REP migration, please reach out!

    Updated repositories this past week:

    Augur Contracts (augur-core):

    Augur Client Front-End (augur):

    Augur Documentation (augur-docs):

    REP Migration Scripts & Contracts:
    React-Blockies (custom):


    The Augur Team

  • Augur (REP) Release JavaScript v4.1.0


  • Augur (REP) Release v3.11.0

    help section for connect + create


  • @AugurProject

    Augur (REP) Release  v3.14.1- 

    bug fix to animated background


  • Augur (REP) Release v3.20.0

    airbitz re-integration


  • Augur (REP) Release v3.22.0

    create market resolution


  • Augur (REP) Release JavaScript API  v4.4.0

    npm install augur.js


  • Augur (REP) Release JavaScript API v4.5.13

    artifacts didn't come along for the ride

    Download v4.5.13 :

  • Announcing the Augur Bounty Program

    Augurs lead developer, Jack Peterson, gave a preview into our bounty program at his talk during Devcon3 this year. Titled “Missing links in the Ethereum development stack”, Jack went on to discuss how the Ethereum development community is in need of additional public tooling.

    Four bounties were announced at Devcon3, and now two have been officially scoped out and launched live. These include the “Safe Solidity Solium Rules” and a “Portable Solidity Debugger” for 1,150 REP and 2,000 REP.

    Details for each bounty can be found at

    We believe these additions to Soliums linting rules will be beneficial to anyone developing with Solidity, as well as having a portable debugger. These bounties can be claimed by anyone, as long as your PR is merged into the main projects repo. Additional bounties will be added to this page over the coming weeks.

    For questions, comments or concerns, come reach out to us in our Discord.


    The Augur Team

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