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A comment on Introduction to Augur, an open-source, decentralized betting marketplace. Parent comment

Re:Introduction to Augur, an open-source, decentralized bett... by gibsons77 on Monday August 20, 2018 @11:13AM (#17800626)
No they do not. REP token holders get a "house take" in some contexts. Augur isn't a company, so a business model doesn't really make sense. Augur is a protocol, and the Forecast Foundation is a non-profit that supports some development.
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Re:Introduction to Augur, an open-source, decentralized bett... by wyldfire on Monday August 20, 2018 @11:16AM (#17800646)
> Augur is a protocol, and the Forecast Foundation is a non-profit that supports some development.

Who got the $5 million?

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Re:Introduction to Augur, an open-source, decentralized bett... by toine_toine on Monday August 20, 2018 @11:21AM (#17800685)
> Who got the $5 million?

The foundation to fund development (which they kept in Ether so is much more valuable than $5million when the sale happened).

He's right, it's a protocol. There is no method for them to take a cut. The protocol gives the fees to the REP holders who report the outcome by staking their REP tokens.

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Re:Introduction to Augur, an open-source, decentralized bett... by gibsons77 on Monday August 20, 2018 @11:24AM (#17800710)
http://allcoinsnews.com/2015/08/27/augur-raises-over-usd-4-m...

Tl;dr is that 80% went to public, 16% to founders and 4% to foundation.

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