CoinDesk analyzed data Predictions.Global site that allows you to see the market forecasts of the project Augur without installing the app. They indicate that in the period from Sunday, July 15, through Monday, July 16, on the platform saw an increase of open positions by 51% to $325 000.
The news came just a week after the launch of the platform market forecasts, which quickly became one of the five most popular applications on the Ethereum.
Statistics Predictions.Global indicates the rapid growth of the amount of funds that the users bet on different outcomes of events. On 11 July, the first day when it was possible to bet the volume of open positions exceeded $100 000. On 15 July it reached $200 000, and on July 16, $300 000.
DappRadar, another data provider that measures the total volume of transactions passing through smart contracts Augur, not the volume of open positions, found that since the launch of the platform, it traded more than than 3000 ETH (worth approximately $1.5 million at current exchange rates). More than a third of the aggregate volume of trade falls on the last 24 hours.
The use of Augur is becoming more diversified. Data Predictions.Global show a steady increase in the number of prediction markets user-created Augur. At the time of this writing, there are 320.
Of course, most of the bets are concentrated in a small number of markets, while many markets at all. So, the share market, will exceed any year-end price live $500 account for approximately half of all open positions (about $150 000) and a large part of the growth of total volume in recent days.
Since the platform does not limit users, it is possible to observe the most absurd rates. For example, on more than one market are betting on the existence of God. In one case, the essence of the wager is, are they going to publish media reports, which could clarify the situation, until January 1, 2020. Someone wants to bet on a positive response to the divine question and waiting for someone who will accept his challenge.
According to DappRadar, intraday user base of the platform amounted to 265 people on launch day. Because of this for a short time Augur walked CryptoKitties in the ranking of the most popular decentralized applications. Since then, the number of users has decreased in recent days it was 113.
Payments on the first projections scheduled for this week. Those whose predictions proved correct, will get their money. After that, the likely increase in the number of users willing to take a chance on the platform of their funds.
According to the founders of the project, the purpose of Augur is to give people the opportunity “to create markets on the basis of any phenomenon”, without paying high commissions to intermediaries. While high gas prices Ethereum and other technical limitations indicate that the achievement of this goal may take a long time.