Ethereum-powered decentralized prediction market Augur is getting more and more support from leading cryptocurrency ventures after it was added on Jaxx. Now ShapeShift.io, an instant digital asset exchange for Bitcoin and other blockchain tokens, has integrated the Augur Reputation (REP) token.
Augur’s REP token is a decentralized oracle solution which allows its holders to report on the outcome of events on the prediction market platform. Each token entitles its owner 1/22-millionth of all market trading fees in return for faithful reporting on market outcomes. REP’s market cap is now about $64.5 million, making it the 8th largest blockchain asset in the world.
“Decentralized prediction markets are one of the most important applications to derive from blockchain technology,” explained Erik Voorhees, ShapeShift’s CEO. “Augur has pioneered and popularized the concept and we’re honored to support REP on ShapeShift from day one.”
Traders and developers can immediately utilize the ShapeShift website or API to convert between REP and most other leading blockchain assets such as Bitcoin, with no account or sign up needed.
“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,” said Tony Sakich, Augur’s director of marketing, “It’s wonderful to have such an easy tool to recommend novice users who are interested in REP for the first time!”
Kraken, one of the largest cryptocurrency trading venues in the world, has also revealed that it is now offering access to leveraged REP trading.
The exchange will offer three Augur based trading pairs (REP/XBT, REP/ETH and REP/EUR) but REP will not be a collateral currency, meaning that its users cannot open margin positions against the value of their REP balances.