Today, global prediction platform Augur announced the launch of Augur Turbo, a fast-resolving, easy-to-use, decentralized prediction market platform for sports, cryptocurrency, politics and current events. Whereas the Augur v2 protocol incentivizes truth-seeking with a human-based oracle, Augur Turbo officially integrated Chainlink’s decentralized oracle networks (DONs) to bring secure data feeds and immediate settlement to the platform’s global sports prediction markets.
Traditional prediction markets are highly centralized and impose restrictions, limitations and high fees. Augur Turbo’s set of open-source smart contracts allows users to create their own global on-chain prediction markets with fair odds, low fees, permissionless access, fast settlement and guaranteed payouts. Now live on Polygon’s layer-2 scaling solution, Augur Turbo users now have minimal costs, from hundredths of a cent to use the prediction market to a few cents to create a new market.
Chainlink’s DONs will deliver highly secure, reliable off-chain global sports data (schedules, scores, team and player stats) on-chain to ensure fast, accurate and transparent settlement of Augur Turbo’s sports prediction markets. DONs allow Augur Turbo users to create their own prediction markets for the NBA, MLB, MMA and Olympics, with support for the NFL, college football, soccer, tennis, golf and e-sports on the horizon.
Augur Turbo’s Director of Operations Tom Kysar appeared on CoinDesk TV’s First Mover to talk about how Turbo’s integration with Chainlink solves the cost, speed and user experience issues of Augur v2’s human-based oracle.
“It was the definition of manual. And today we can use Chainlink, which comes in automatically,” Kysar said.
Augur Turbo’s intuitive user interface was designed with DeFi users and sports fans in mind. With Chainlink and Polygon providing secure, scalable infrastructure, Augur Turbo allows creators to quickly bootstrap new prediction markets with Chainlink Data Feeds. Because Chainlink is blockchain agnostic, Augur Turbo can expand to additional blockchains and layer-2 environments as needed.