Startup Veil Forks Augur to Create Prediction Markets for 2020 Election

Prediction market and derivatives platform Veil announced Wednesday that it deployed a new version of Augur, the decentralized prediction market protocol.

"What we've done, is very recently we wanted to support the 2020 elections. No one has been able to support long-running markets on Augur, so what we've done is take some of the infrastructure to run [AugurLite]."

Augur normally is able to support long-running prediction markets.

As a result, Fletcher-Hill insisted the creation of these prediction markets on Augur now would make the bets "Susceptible to dispute" later.

Emphasizing that AugurLite was created not as a competitor to Augur but rather out of a clear need, Fletcher-Hill also reiterated that Veil would still be supporting the main Augur application and its forthcoming upgrade.

Launched officially in January, Veil offers users a web interface to place bets on certain Augur prediction markets with greater speed and ease.

"We will continue to support the creation and trading of [Augur] markets on Veil and are excited to integrate Augur v2 when it is upgraded later this year," Veil said via Twitter yesterday.

"No oracle is built into the protocol. Instead, markets have a resolver which can reference any oracle-an Augur market, Chainlink feed, or any arbitrary smart contract state."

Because of this, certain Augur community members have labeled AugurLite as a more centralized application than Augur.

AugurLite according to Fletcher-Hill isn't meant to replace or compete with Augur.