Blockchain-based prediction market Augur is reportedly significantly overestimating its usage, a founding partner of cryptocurrency hedge fund Tetras Capital claimed on social media on Jan. 10.
The latest criticism of the project, Alex Sunnarborg took Augur to task following publication of its most recent weekly report showing the amount of money circulating within its markets.
Specifically, the report claims around $2 million is currently involved in wagers set up by users. Sunnarborg, however, notes the figure includes wagers which have already closed.
“Augur metrics showing ~$2 (million) ‘total money at stake’ include markets that have already ended,” he tweeted, adding:
“If we exclude markets that have ended there is (less than $100,000) total money at stake on Augur.”
The largest wager still active is a bet on the market cap of Ether (ETH) overtaking that of Bitcoin (BTC) by the end of this year.
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