March 28, 2023
Polygon News

Augur-Matic x Betting Rewards: US$1M Liquidity Mining

Augur: “your global, no-limit betting platform,” now on Polygon!

Augur-Matic Rewards

Polygon and Augur commence the Augur-Matic rewards program having US$1 million dollars in rewards. The objective here is to augment liquidity on Augur Turbo. Augur Turbo is a prediction market featuring daily sports, crypto, etc. category markets. The program sets incentives for liquidity providers (LPs) as they get rewards via liquidity mining (LM). In LM, decentralized finance (DeFi) product users tend to earn extra token over and above the regular yield simply via placing assets into a LP. Against this, the liquidity generated via bootstrap user adoption ensures the seamless functioning of Augur Turbo. Users win rewards via generating liquidity on all sides of the bet on the platform.

Augur Turbo: How Betting Works?

Augur Turbo allows buying shares via investing in an outcome that’s user-anticipated to benefit or one that would witness a price rise. Outcomes have prices that correspond to the outcome occurring probability. This price falls in the US$.01 and US$.99 range. Augur Turbo users can access various trading options on the Augur Turbo markets page. On this page, users can examine specific market details to then finally select the selected prediction amount they intend to buy or sell for a prediction order completion. Existence of appropriate liquidity levels in the concerned market is a must or else the transaction would fail. To make this work, Augur-Matic Rewards can be used. Using an automated market maker (AMM) model, Augur Turbo allows rendering AMM-determined odds. AMM facilitates trading digital assets automatically via LPs.

Polygon Improves the Betting Experience

LPs can avail advantages of Polygon’s affordable transaction processing feature. Via Polygon, Augur Turbo tends to cut user fees whilst allowing affordable access to the platform. Augur Turbo tends to leverage on the oracle system of ChainLink to offer to users high-quality data for determining events’ outcome. Ethereum-hosted Augur v2 used to experience a couple of issues pertaining to its cost, gas fees of using Ethereum, raw usability (UX), and speed. Dubbed to be the “Augur Turbo release,” the new UX is said to be identical to Uniswap, with AMM trading pools. Thanks to Polygon (MATIC), trading on Augur Turbo is now almost free.

Decentralized Prediction Markets on Augur & Augur Turbo

Augur’s prediction markets facilitate buying and selling predictions wherein users buy shares in particular outcomes, such as “what America’s GDP will be in the next quarter.” Augur isn’t the same as traditional betting markets (TBMs) in that it is not centralized. Where TBMs used to charge fees as high as 5%-10%, whilst also placing limits on establishing particular market-types on their platforms.

Per DeFi Pulse, Augur platform’s smart contracts have US$2.3 million locked at present. Having undergone beta testing, Augur Turbo intends to enhance prediction markets’ access. It is taking prediction markets to a large audience base. Augur Turbo has also inculcated prediction markets in the NFL, the NBA, Crypto, etc. Augur followed the suit of other promising DeFi platforms having opted for Polygon as a scalability solution. Major Polygon-opting DeFi platforms include C.R.E.A.M. Finance, Balancer Protocol, and Aave. Now that Augur is added to Polygon’s ecosystem, the latter is bound to gain weight in the DeFi space.   

About Augur Turbo

A PM Research endeavour, Augur is a peer-to-peer DEX. It enables universal and transparent market access. Augur is “your global, no-limit betting platform.” Augur lets you “bet how much you want on sports, economics, world events and more.” Augur simplifies for traders buying and selling shares. On Augur, LPs can supply liquidity and earn fees. Augur believes, “Betting today is broken & exploitative.” Betting industry today thrives on a false premise of getting rich quick. Extracting the maximum value from customers without delivering on their promises is their typical trait. Now, Augur Turbo is here to change the betting industry, once and for all, and for good—with “guaranteed payouts.” Augur operates on a not-for-profit basis with fees as low as 1.5%. Get ready for “the best odds, and the lowest fees,” with Augur.

Augur Turbo Socials

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