  Augur is a trustless, decentralized oracle and platform for prediction
markets. The outcomes of Augur's prediction markets are chosen by users that
hold Augur's native Reputation token, who stake their tokens on the actual
observed outcome and, in return, receive settlement fees from the markets.
Augur's incentive structure is designed to ensure that honest, accurate
reporting of outcomes is always the most profitable option for Reputation token
holders. Token holders can post progressively-larger Reputation bonds to
dispute proposed market outcomes. If the size of these bonds reaches a certain
threshold, Reputation splits into multiple versions, one for each possible
outcome of the disputed market; token holders must then exchange their
Reputation tokens for one of these versions. Versions of Reputation which do
not correspond to the real-world outcome will become worthless, as no one will
participate in prediction markets unless they are confident that the markets
will resolve correctly. Therefore, token holders will select the only version
of Reputation which they know will continue to have value: the version that
corresponds to reality.
