Alex Sunnarborg, Tetras Capital’s cofounder, has recently claimed that Augur, the decentralized gambling platform, has a dearth of volume. He also said that Augur suffers from the same kind of volume shortage that continues to haunt the dapp ecosystem in significant part.
In rebuttal to the weekly report of the platform, Sunnarborg stated that the total volume of active markets in Augur is less than $100,000. The combined value of the wagers on the platform is $2,040,934.63, according to the study (equivalent to 13,451 ETH).
This value is based on a study of 1,724 markets. Later Sunnarborg on Twitter shredded the platform valuation by stating that it apparently includes bets that have already been completed. He added that when this value is removed, it would give a different figure of the adoption of the platform.
Augur metrics showing ~$2m ‘total money at stake’ include markets that have already ended.
If we exclude markets that have ended there is <$100k total money at stake on Augur.@AugurProjecthttps://t.co/Lrxr1GWCqLhttps://t.co/aw2PvBkV7A pic.twitter.com/2AtOA14rj9
— Alex Sunnarborg (@alexsunnarborg) January 10, 2019
Then Sunnarborg reinforced his point about the low usage of the platform and made another comment on the same theme. In his tweet, he also said that the main market of less than $10k in ETH would be higher than the BTC market capitalization at the end of the year.
Augur metrics showing ~$2m ‘total money at stake’ include markets that have already ended.
If we exclude markets that have ended there is <$100k total money at stake on Augur.@AugurProjecthttps://t.co/Lrxr1GWCqLhttps://t.co/aw2PvBkV7A pic.twitter.com/2AtOA14rj9
— Alex Sunnarborg (@alexsunnarborg) January 10, 2019
As reported in August 2018, the total number of dAPPS with more than 300 daily active users over EOS and ETH totalled eight. Later in November, Augur posted almost $2 million on the US mid-term election wagers. However, it proved to be a false start for the platform that did not take away as many dAPP programmers as it initially hoped.
Augur also had to contend with the appeal for its previously announced lack of censorship. As expected, this directly contributed to the embarrassing appearance of the Amazon Founder and US President’s assassination markets. Augur also recorded some gambles on the survival of late US Senator John McCain and actress Betty White.
Alex examines more questions about the long-term usability of dAPPS, besides moral considerations and problems related to Augur. While some repeatedly pointed out that low user numbers are evidence of dAPPs ‘ basic failure to keep their promise. On the other hand, the founder of Gnosis said that the success of dAPPS shouldn’t be factored by subscriber numbers.
