The Kraken Exchange Adds New Trading Pairs for the Ethereum-based Augur Prediction Market

San Francisco-based virtual currency exchange Kraken opened up six new trading pairs for the Augur Reputation Tokens (REP) today: REP/XBT, REP/ETH, REP/EUR, REP/USD, REP/CAD, REP/JPY. Kraken also said in their statement that margin trading for REP pairs will be available in the near future.

Augur is essentially a decentralized prediction market built on top of the Ethereum blockchain network. The idea behind the Augur platform is that the collective “wisdom” of the crowd is superior to that of any individual or expert.

Augur states:
“Prediction markets have proven to be more accurate at forecasting the future than individual experts, surveys or traditional opinion polling.”
While the prediction markets have not been launched yet, the tradable REP tokens will give holders the ability to earn for accurately reporting on the outcome of events/polls on the Augur marketplace at launch, “Reporters need only report correctly for the markets assigned to them but receive their share of 50% of the trading fees from all Augur markets,” writes Kraken.

The REP tokens began trading on Poloniex yesterday, with - an automated digital currency exchange based in Switzerland - announcing integration of REP via Twitter today.