What is augur (Rep)?

(REP) Successfully crowdfunded in August 2015 and launched in July 2018, the Augur platform operates as a decentralized prediction market running on Ethereum blockchain. Its REP token is used as the source of reward and “gas” for making predictions.

What are Augur contracts?

Augur contracts make use of two cryptocurrencies: Ethereum and REP, Augur's native coin. Reputation (REP) is a staking token employed by reporters on the Augur network to resolve disputes or anticipate market outcomes. Reporters cover a market by putting their tokens in escrow and betting REP tokens on a likely outcome.

What is augur's Rep cryptocurrency?

Augur’s REP cryptocurrency derives its value from its ability to ensure the successful execution of smart contracts that depend on the Augur network. Most notably, REP is built into the network itself and is the only currency that can be used for reporting event outcomes.

What is rep and how do I use it?

Most notably, REP is built into the network itself and is the only currency that can be used for reporting event outcomes. In order to report on event outcomes, and earn a share of the platform's fees collected during the trading event, Augur nodes (“reporters”) need to stake REP in a special contract.