Augur-Matic Rewards: $1M Liquidity Mining Program in Conjunction with Augur

Introducing Augur-Matic Rewards

Polygon and Augur are excited to announce the Augur-Matic rewards program. The program's $1 million dollars in rewards is set to boost liquidity on Augur Turbo - a prediction market that features daily markets in sports, crypto, and other categories. 

The program incentivizes liquidity providers (LPs) by rewarding them through so-called liquidity mining, in which users of a decentralized finance (DeFi) product earn an additional token on top of the regularly expected yield just for putting assets into a liquidity pool. In return, liquidity made available helps bootstrap user adoption and ensure the smooth running of Augur Turbo. Users can earn rewards by providing liquidity to every side of the bet on the platform.

How it works

On Augur Turbo, users can buy shares in an outcome they believe will occur or that the price of the outcome will rise from its current level. Each outcome has a price corresponding to the probability of the outcome occurring (the price is between $.01 and $.99).  Users of Augur Turbo can navigate the different trading options available on Augur Turbo’s markets page. The page lets users examine individual market details. Users then select the amount of the chosen prediction they want to buy or sell to complete the order of a prediction. There must be sufficient liquidity in a given market or a user’s transaction will fail.

That’s where Augur-Matic Rewards come in. By using an automated market maker (AMM) model, Augur Turbo makes it possible to render odds determined by the AMM. Unlike a traditional market consisting of buyers and sellers, AMM allows digital assets to trade automatically by using liquidity pools.

Polygon Improves the Betting Experience

 Liquidity providers stand to benefit from Polygon’s low-cost transaction processing. 

By incorporating Polygon, Augur Turbo will cut fees for users and let anyone use the platform for a low cost. Augur Turbo also leverages Chainlink’s oracle system to provide users with quality data to determine the outcome of events.

Tom Kysar, Director of Operations for Augur, said, “Augur v2 (on Ethereum) had a bunch of problems in regards to the cost to use it, gas price to use Ethereum, [and] raw usability i.e. the user experience of it, and speed. It was too slow fundamentally speaking. What we’ve come up with is the Augur Turbo release. The UX is very similar to Uniswap with AMM trading pools. It’s on Matic (Polygon), which makes it almost free to do trades and take other actions. Trades cost a hundredth of a penny.”

Augur and Augur Turbo Offer Decentralized Prediction Markets

Like traditional prediction markets, Augur’s prediction markets are a place to buy and sell predictions.  Users buy shares in an outcome such as what America’s GDP will be in the next quarter. Augur contrasts to traditional betting markets which are highly centralized, siphon fees of 5 - 10% and place limits on the types of markets that can be established on their platforms. According to Defi Pulse, Augur currently counts $2.3 million locked by the platform’s smart contracts.

Augur Turbo went through beta testing three months ago and aims to make prediction markets accessible to a broader audience. Today Augur Turbo has expanded to cover prediction markets in the NFL, the NBA, Crypto and more. 

Augur joins a growing number of Defi platforms to select Polygon as its scalability solution. Other DeFi projects that have made the move to Polygon include C.R.E.A.M. Finance, Balancer Protocol, and Aave. With the addition of Augur to the platform’s ecosystem, Polygon continues to gain traction in the DeFi space.

About Augur Turbo:

Augur is the world's most accessible, low-fee, no-limit betting platform. It allows you to buy and sell real-money stakes in world outcomes including sports, crypto, politics, and current events.

Augur is a set of audited and secure smart contracts. To learn more, visit, subscribe to the Augur newsletter, and follow @augurproject on Twitter.

Be a part of our social ecosystem!

More from the Polygon Blog
Data Availability is Not Data Storage

Recall this grade school experience: you raise your hand and ask, “Can I go to the bathroom?” To which your teacher responds with “I don’t know. Can you?” Might seem far fetched, but this is a perfect entry point to understanding the difference between data availability and data storage. Let's bring this analogy close to […]

Read More
The Future is Now for Ethereum Scaling: Introducing Polygon zkEVM

We all know that Ethereum needs to scale, and we at Polygon believe that zero-knowledge (ZK) tech is the most promising pathway to get there. But that path has often seemed as if it would be long and winding. The conventional wisdom has been that the crypto space would need many years to develop Layer […]

Read More
Polygon Reaches First Sustainability Milestone by Achieving Network Carbon Neutrality

Polygon has made a major first step toward becoming carbon negative with the retirement of $400,000 in carbon credits representing 104,794 tonnes of greenhouse gasses, or the entirety of the network’s CO2 debt since inception.  The milestone comes after Polygon in mid-April released its Green Manifesto, part of its broader vision for sustainable development. The […]

Read More
Polygon Avail Launches on Testnet to Turn Monolithic Chains Modular

If we want the entire world to join Web3, blockchains will need to handle more transactions. Monolithic blockchains can’t scale because they’re asked to perform too many tasks (execution, settlement, and data availability) at once. But if chains were able to focus on just one part of the stack at a time, the entire ecosystem […]

Read More
Plonky2 is Now Open-Source

Earlier this year, Polygon announced Plonky2, a zero-knowledge proving system that represents a major breakthrough for ZK tech. Plonky2 offers two main benefits: incredibly fast proofs and extremely efficient recursive proofs. It’s a huge leap forward for the ZK space, and we’ve been blown away by the response from the developer community: people want to […]

Read More
The Complete Beginner’s Guide to NFTs on Polygon

Ever wanted to learn how to buy NFTs, or are you looking for a new platform to do it? Then you might want to consider Polygon.  Learning about NFTs can be a big jungle, but on Polygon, we make it simple to get started through our beginner-friendly ecosystem. Buy NFTs with low gas fees and […]

Read More
Polygon is Now Home to Over 37,000 DApps

More than 37,000 decentralized apps (dApps) have been built on Polygon, according to latest data from Alchemy, the world's leading Web3 development platform. That’s almost double the number in March and a fourfold increase since the start of the year. The number of monthly active teams, the most direct measure of developer activity on the […]

Read More