Augur, a decentralized prediction market, released a proposal for the migration schedule of Compound. The first step is to deactivate some cREP

Augur, the decentralized prediction market, released a proposal for the migration schedule of Compound. The first step is to deactivate some cREP in response to the upcoming Augur v2 launch on July 28. This is to prevent the supply and demand of REPv1 and eliminate the motivation to maintain REPv1 in Compound by eliminating the supply interest rate and the distribution of COMP. Users can migrate to Augur v2 voluntarily, but with the launch of Augur v2, future proposals should take stronger measures to reduce the existing cREP positions. Once Augur v2 is stabilized, future proposals can establish a new Compound market for it. Previously, Chainwen reported that Augur, a decentralized prediction market, plans to release the v2 version on July 28. Augur’s existing native token REP will be renamed to “REPv1”, and the new REP token on Augur V2 will be called “REPv2”. Augur will soon provide a migration tool for users to migrate their REPv1 tokens to the new Augur v2 platform. In addition, Augur v2 reintroduced the concept of “use it or lose it”, which means that all REP holders (REPv1 or REPv2) must participate in the fork of the entire network. If the holder does not participate in the fork within the 60-day fork window, the holder’s REPv1 or REPv2 will never be able to migrate to the Augur v2 platform and participate in the future Augur market.