Glossary
A defined list of terms specific to Augur that are deep-linkable.
| Term | Description |
|---|---|
| All Theoretical REP | The maximum possible total supply for a certain version of REP. This is the sum of REP existing in a particular universe and any REP that is eligible for migration into that universe.
Depending on the situation, there are two ways to calculate the value:
|
| Augur v1 | under construction |
| Augur v2 | under construction |
| Child Universe | A child universe is a universe spawned by its parent universe when a market in the parent universe forks.
In a child universe, the forking market is finalized as the outcome that aligns with that particular child universe. For example, a market has 3 possible outcomes: Yes, No, and Invalid.
When the market forks, 3 new universes are created: universe Yes, universe No, and universe Invalid.
In each universe, its corresponding outcome becomes the final outcome, such as in the universe Yes the final outcome of the forking market is Yes, in the universe No the final outcome of the forking market is No.
Strictly speaking, child universes are not created at the same time as a market forks. It is created when REP holder first migrates their REP to it after a fork starts. Therefore the REP holder who first migrates their REP has to pay not only the transaction fee of migrating their REP, but also the transaction fee of creating the child universe. In a child universe, there are no restrictions right after it is created. Users can do anything such as creating markets, trading shares, reporting, and purchasing participation tokens. |
| Creation Bond | under construction |
| Creator Fee | under construction |
| Designated Reporter | under construction |
| Designated Reporter Bond | under construction |
| Designated Reporting | under construction |
| Designated Reporting Phase | under construction |
| Dispute | under construction |
| Dispute Bond | under construction |
| Dispute Round | under construction |
| Dispute Round Phase | under construction |
| Dispute Stake | under construction |
| Dispute Window | under construction |
| End Time | under construction |
| Fee Window | under construction |
| Final Outcome | under construction |
| Finalized Market | under construction |
| First Public Report | under construction |
| First Public Reporter | under construction |
| First Public Reporter Stake | under construction |
| Forecast Foundation | A group of Augur developers. The members of this group are purely developers, not owners of Augur. They write the source of Augur and publish on Github. Check the official site for details. |
| Fork | under construction |
| Forked Market | under construction |
| Forking Market | under construction |
| Forking Period | under construction |
| Forking Threshold | under construction |
| Genesis Universe | under construction |
| Initial Report | under construction |
| Initial Report Bond | under construction |
| Initial Reporter | under construction |
| Invalid Outcome | under construction |
| Locked Universe | A locked universe is the parent universe after a fork starts. A universe has some restrictions imposed on it after a fork starts in it. Users cannot create new markets and cannot stake their REP on any markets, and no more markets can finalize. (See restrictions on use for details.) |
| Losing Universe | A kind of child universe.
The child universe that receives the most migrated REP from the parent universe by the end of a fork becomes the winning universe, the other child universes become the losing universe.
Non-forking markets in the parent universe cannot be migrated to losing universes, they can be migrated only to the winning universe. Losing universes receive only two things from the parent universe: One is the forking market that is duplicated from the parent universe and finalized as the outcome that aligns with the losing universe. The other is REP whose holders believe the outcome that aligns with the losing universe is true. When the system is working correctly, and people are behaving economically rationally (profit motivated), the expectation is that the losing universes will align with the lying universes. REP in the losing universe is expected to lose its value, since future traders won’t want to trade in a universe where reporters have a history of lying which means REP in that universe will not receive a meaningful amount of trading fees. |
| Lying Universee | A universe that has the forked market whose final outcome does not correspond to objective reality. When the system is working correctly, and people are behaving economically rationally (profit motivated), the expectation is that the losing universes will align with the lying universes, but that is not necessarily. |
| Market | under construction |
| Market Creator | under construction |
| No-show Bond | under construction |
| Non-Finalized Market | under construction |
| Non-Forking Market | under construction |
| Open Interest | under construction |
| Open Reporting Phase | under construction |
| Outcome | under construction |
| Parent Universe | A parent universe is a universe that has spawned child universes because a fork had occurred in the parent universe.
For 60 days after a fork starts (the 60 days is called forking period), REP in the parent universe can be migrated to a child universe. But after the forking period, you cannot migrate your REP to any child universe. After a fork starts, the parent universe is locked because there are some restrictions. Users cannot create new markets and cannot stake their REP on any markets, since REP in the parent universe must be migrated to one of the child universes during the forking period. Therefore no more markets can finalize in the parent universe after a fork starts. Users can trade and settle their shares on markets, and redeem participation tokens in the parent universe even after a fork starts. (See restrictions on use for details.) |
| Participation Token | under construction |
| REP Bond | under construction |
| REPv1 | under construction |
| REPv2 | under construction |
| ROI | under construction |
| Report | under construction |
| Reporter | under construction |
| Reporting Fee | under construction |
| Reporting Fee Pool | under construction |
| Reputation Token | under construction |
| Settlement | under construction |
| Settlement Fee | under construction |
| Share | under construction |
| Sibling Universe | A universe that shares a parent with the universe in question. Sibling universes are entirely disjoint. For example, REP can be used to stake on outcomes only for markets that exist in the same universe as the REP. It cannot be used in another universe. Also, during the forking period, REP holders can migrate their REP from the parent universe to a child universe, but they cannot migrate from one sibling universe to another. |
| Smart Contract | under construction |
| Smarty-pants | A role name in the Augur Discord server or the people who have the role. This role is given to the people who have shown a deep knowledge and interest in Augur. They have moderation privileges in the Augur Discord server. They do what they want to do, such as a moderate, help out, or just chat without any obligation nor reward. The addition of a member is decided by consultation within the members who already hold this role. They manage the ENS domain augur2.eth where Augur UI is registered (Click for details). |
| Tentative Outcome | under construction |
| Trading Fee | under construction |
| Transaction Fee | under construction |
| Truth Universe | A universe that has the forked market whose final outcome corresponds to objective reality. When the system is working correctly, and people are behaving economically rationally (profit motivated), the expectation is that the winning universes will align with the truth universes, but that is not necessarily. For any reason, the lying universes become the winning universes. |
| Unfilled Order | under construction |
| Universe | A universe acts like a container for the objects (such as REP, markets, shares, settlement fees, and participation tokens) required for Auger to work.
All of the objects belong to a universe.
The objects can be used only for the objects that exist in the same universe.
For example, REP can be used to stake on outcomes only for markets that exist in the same universe as the REP, it cannot be used in another universe.
Similarly, collected fees in the reporting fee pool are distributed to the owners of participation tokens that exist in the same universe as the pool.
When a market forked, new universes are created from the universe where the forking market exists. The universe where the forking market exists is called parent universe, and created universes are called child universes. When a fork starts, the parent universe is locked permanently. Besides, a new universe is created when Augur's smart-contracts are updated. When Augur launched on Ethereum Mainnet, it had only one universe called genesis universe, the version of this release is known as Augur v1. After that, the smart-contracts were updated and a new universe was created, the version of this release is known as Augur v2. |
| Validity Bond | under construction |
| Waiting For Window Phase | under construction |
| Winning Universe | A kind of child universe.
The child universe that receives the most migrated REP from the parent universe by the end of a fork becomes the winning universe, the other child universes become the losing universe.
All markets in the parent universe can only be migrated to the winning universe and the objects attached to the forking market, such as shares, open interest, unfilled orders, are also only migrated to the winning universe. (See migration of the objects for details.) When the system is working correctly, and people are behaving economically rationally (profit motivated), the expectation is that the winning universe will align with the truth universe. |