Augur is a trustless, decentralized oracle and prediction market. Individuals can speculate on the outcome of future events, those who forecast correctly win money and those that forecast incorrectly lose money. Augur was founded in 2014 and officially launched on the Ethereum mainnet on July 2018.
Augur has a native token called Reputation (REP). REP is needed by market creators and reporters on the Augur platform. Both reporters and market creators can earn a return on their REP by participating in the network. Individuals are able to trade on the Augur platform even if they do not own the REP token.