Augur Gets A Community Development DAO Named OracleDAO

Decentralized autonomous organizations are rising in the world of decentralized finance. The latest DAO that Augur gets marks a fast growing tradition of governance by blockchain. Named OracleDAO, this will be a fork of MolochDAO which is an Ethereum community funding initiative that focuses on improving the decentralized prediction marketplace.

Launched last year, the MolochDAO has focused on funding the development of Ethereum 2.0 in the ETH news. The grant-making decentralized autonomous organization is aimed at coordinating the efforts to fund the public infrastructure that surrounds Ethereum. The community forked MolochDAO at the end of last month, creating the new OracleDAO, according to Augur.

Someone forked @MolochDAO and made OracleDAO!

"OracleDAO is a smart contract aimed and coordinating efforts to build tools and market Augur…this DAO will propose funding of marketing, research, and engineering related to the Augur project."https://t.co/19jbmtyYZo

— Augur (@AugurProject) March 4, 2020

Augur gets a new DAO named OracleDAO, which explained that its aim was to coordinate efforts to build tools and market Augur as its native token, REP. The people standing behind the initiative said that they expect to create Augur-related marketing, research and engineering funding proposals on the platform.

By forking Moloch, the organization also hopes to gain more freedom from the Forecast Foundation, a non-profit tasked with overseeing Augur development. The manifesto noted that the development was “active and strong” and improvements to other tools could also be made.

“Other’s have begun to build tools and market Augur, but those attempts are highly centralized and at any point could be removed, significantly reducing the quality of life of Augur’s users and REP holders,” said OracleDAO’s manifesto.

Augur gets a new DAO which was created to enable immediate changes in the current process of centralized development, according to its founders. This could help scale engineering by hiring external consultants to improve Augur. Or, it could fund the development of open-source tools which connect to the prediction platform.

Examples of projects which could be deliberated on include creating better Augur market scanner tools, support for more foreign languages and direct paying of influencers to promote REP. This is what is viral in the cryptocurrency news.

The fact that Augur gets the new OracleDAO proves that DAOs are emerging faster than ever – and that the cryptocurrency network is expanded. The move to decentralized finance (DeFi) seems to be pushing DAOs farther and the community seems to have moved on from the famous Ethereum DAO fork.

Currently, Augur’s REP token is trading at $12.68 and is on the 47th position on the market cap.