I'm Joey from Augur and Pantera, and we're going to go through Augur V2 and Yacht. So, the idea behind Augur really is to provide Oh, this is actually going forward on. So, okay. So, the idea behind Augur is to provide um you know, give users access to tools that increase and protect wealth through financing betting. And so, this really goes back to this concept of anybody anywhere in the world should be able to create a financial market on whatever they want.
So, that could be anything from a horse race, a soccer match, uh whether Trump will be impeached, uh or the price of Tesla at the Friday closing bell. And so, our mission, the way we're going to actually do that, is by creating the world's most accessible, no-limit betting platform. And this really goes back to when I was in middle school, I was betting on these horse races. I bet 25 to 30 races a day. And I kind of noticed that if you're good at it, uh you'll actually get cut down, so your limits get reduced.
And all of a sudden, you can't bet very much. And so, that's really the problem we're trying to solve. Uh the limits problem and then the the accessibility problem. So, Augur V1 was really a proof of concept. Uh it wasn't really a great user experience.
Um you know, you had to download an app, took hours, sometimes days to sync. Uh you got hit with this kind of big landing page. Uh you connect a wallet. Uh you had to download MetaMask. Um And once you got there, you know, there were markets were really wide, you couldn't really see that much.
Uh trading page was kind of uh indecipherable. You had to scroll down, place your bet, bunch of text, more text, more text. And and it was pretty bad experience. We just wanted to prove out uh that it was actually possible. We were doing a lot of things people thought were super crazy.
Uh people said that, you know, it'd be impossible to do all this stuff. We wanted to prove that you could do it even if it had a really bad user experience. And so the original plan was at least to be one of those functional but not usable. Then add 0x to allow off-chain trading, so you can get off-chain order placements, cancellations, and modifications. That's really important because it allows market makers to actually market make and be priced their odds, especially in events that move quickly.
Then add Dai and Maker. And the reason for that is if you're betting in ETH, you need to be confident on the ETH price up or down over a timeline ago in the event you're betting. Uh which is really difficult. And then finally release a version three that has high throughput and low latency even on order fills. And at that point, it should be no different than a regular betting or trading site except that it allows you to access it from anywhere.
There's no limits and it's global and it's just a great user experience. And so in Q1 2020, we're going to release all of it. Uh V1.5 with 0x, V2 with Dai, and then shortly after uh V3 with fast trading. And so here's kind of a preview of Augur V2.
So the markets are much more condensed. Uh it's much easier to browse. If you log in, there's some sign-in options where you can log in with the email, uh Google, phone number, and then MetaMask as well. So it's really simple sign-in process. If you want to add funds, you can add them in with a debit card, uh eventually credit cards.
Uh it's a much more seamless process. Actually using the notes for this stage, you'll be able to use Dai only. So you don't need to own ETH at all in any other part of this process. You never really need to know that you're using Ethereum. And I think that's really powerful.
It's like here you can see someone is betting on whether Trump will win. They earn and then now they want to buy the price. And then we actually show that it's pending. Uh V1 it just kind of magically appeared like 30 seconds to a minute later. Here it actually gives you kind of real-time updates uh based on what's happening on chain.
Your order's placed. And that's kind of a a trade in Augur V2. Don't really even know you don't you're using these. And so, what's next for Augur is really kind of a master plan part two, which is all these UI's we sort of designed them mobile first, uh starting with a mobile experience cuz that's where about 60% of that betting takes place, uh and then working backwards to the desktop experience. Uh making tools that make it really easy to market and make uh because having that clarity is super important.
Um focusing on user acquisition growth, and also bringing sort of the offline social betting experience online. Uh we're going to have some features coming up pretty soon that that do that. And there's one more thing we're going to do, which is we're going to release a betting UI. So, this looks pretty similar to something like that there. Uh it's a little bit more modern, and it allows you to back back and lay uh individual events.
Uh the numbers there are how much money you win if you bet. So, 6.3x your money, how many dollars you can bet. And then we're going to eventually release even simpler version of this uh that's just really easy to use. And that's that's basically what we're working on.
And then one really final thing, please in some 10 seconds, is in Augur V1, 14% of markets that were created were invalid. So, this is a huge problem that people historically associated with Augur. After we implemented changes in the end of June to alleviate those problems, of the most recent 143 markets created on Augur, only one of them was invalid. And in V2 we have even more changes to try to lower that even further. Thanks.
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