Joseph Krug@AugurProject

www.augur.net

Graphics assorted CC images — PM outcome diagrams provided by Paul Sztorc

Prediction Market: a market where you can buy and sell predictions

Price of event: $0.42 =

42% chance of the event happening!

Prediction Markets

PM Types

AFTER THE EVENT: REPORTING

User hashesreport andbroadcasts

Reporting Quorumreached

Reportsdecrypted

ConsensusReputationupdates &

cash payouts

Marketopens

BettingEvent(s)mature

Eventhappens!

Eve

nt

Eve

nt

Eve

nt

Eve

nt

Eve

nt

Event included in

market

Eventcreated

BEFORE THE EVENT: BETTING / FORECASTING

Augur Overview

Determining Outcomes of Events (Reputation)

Intrade Fees go to Intrade

Centralized third party (InTrade)

No punishment for manipulation

Half the fees go to reporters (reputation

holders) – other half to market

creators (anyone can create a

market)

FullyDecentralized

Lose reputation if you lie

Prototype

Pay for oracle use

P2P Wagers

Non-PM Applications

Potential Applications

Or… Any question you can think of