Augur, the global, no-limit betting platform just launched Version 2 with their updated platform and revamped user interface. Augur v2 comes with a whole suite of improvements including trades being made with the DAI stable coin, and being able to trade on markets resolved as invalid. Users can make limitless bets on any predictable outcomes from sports to politics and more.
The easiest way to make a prediction on Augur
The Torus integration comes built-in with Augur v2 to offer a smoother onboarding process from logging in, to topping up wallets and making a prediction on the markets. Here, we will walk through the easiest way to make your first prediction on Augur.
Login with Google
Log into Augur with your Google account by entering your account credentials and verifying your 2FA if you have previously set it up.
Adding Funds
If you have just created your new wallet with Torus, the first thing you would want to do is to add funds into your wallet to finance your predictions on Augur.
Predictions are made in DAI, and gas fees to process the transactions re paid in ETH.
You can choose from one of four methods to add DAI to your wallet: Buy it from an integrated FIAT on-ramp provider, convert existing REPv2 or ETH from your Torus wallet to DAI, send funds from your Coinbase account0, or send funds from another Ethereum wallet.
Buying DAI and ETH
You can choose to buy DAI with your Credit or Debit cards, or Apple Pay from our integrated FIAT on-ramp providers like MoonPay, Wyre and Ramp. You can select the providers that would give you the best rates for your region. You can also choose to buy ETH from Simplex and Xanpool and swap it out for DAI later.
Depending on the amount of tokens you wish to purchase, you might be required to do a quick KYC, having access to your identification documents like passports would be handy for this process. Once verified, you’ll need to enter your payment details and proceed with the sale.
Placing a Bet
Once you have DAI in your wallet, you can then proceed to select the market you wish to bet on.
After selecting your market, you can then choose the outcome you predict to come true.
Enter the number of shares you wish to buy, where each share is priced between $0.01 to $0.99.
Enter the limit price, which is the price that you would be willing to buy or sell per share. If you predict that there is a 40% chance of the outcome occurring, you would buy shares at $0.4. If your prediction is correct, you will make a profit of $0.6 per share.
Once you have confirmed all the details for your bet, you can then place the buy order for your prediction.
After placing the buy order, you would need to sign 4 approvals in the prompted pop-up windows before the order would be successfully placed.
You can familiarise yourself with Augur and how their markets work by diving into their documentation.
Make a Prediction on Augur with Torus to win prizes! (5th July — 23rd August 2020)
To raise awareness of our latest integration with Augur v2, users who make a prediction on Augur with their Torus wallet would stand a chance to win 200DAI!
- Users who log into Augur with Torus and make a bet will get a guaranteed 5DAI, limited to the first 80 logins.
- After they have conducted their first bet, they would then stand a chance to win a grand prize of $200 in ETH.
- Prizes would be delivered to qualifying Torus wallets at the end of the campaign.
Join Our Community
Join our community to stay abreast with the latest updates from Torus and drop us a message on any of our social channels if you are keen on integrating Torus with your own DApp.
Log into Augur with Torus here.
