Veil
Basics
- UPDATE (12-7-2019): the team quit the project and stopped adding new markets and has shut down its contracts. It named the following three issues:
- "We tried to do too much. Prediction markets are a generalized form of betting, derivatives, insurance, and more. Focused versions of any of these verticals may be better for users than the generalized form.
- We didn’t offer a good onboarding experience. Crypto as a user base is still early, and we didn’t make it easy enough for users without crypto or a wallet to get started.
- We weren’t decentralized or regulated. Some users want a fully decentralized, unstoppable product and others want a regulated product. It’s hard to offer something in between that people find valuable."
The rest of the information bellow is from before the announcement of quitting.
- "Veil is a peer-to-peer prediction market and derivatives platform built on top of Augur, 0x, and Ethereum."
- Forked Augur to create AugurLite
- As written about in the blog Proof of Work#67:
" Veil (a prediction market interface initially built to execute onto Augur) has forked the Augur codebase and removed the decentralized oracle part (enabling market creators to choose an oracle, including the Augur oracle itself, or a centralized one instead) and thereby have also removed REP. This (ETH projects forking out somewhat unnecessary ERC20 tokens) is something I expected to see sooner, and I’m very curious to watch it develop with Veil. A skeptic would say that this move is likely to end up with a lot of people using centralized oracles, essentially obviating the need for a blockchain at all—an optimist would say that other decentralized oracles without tokens will become available, and there will be increased liquidity as a result of removing the REP requirement. "
- Launched officially in January 2019, Veil offers users a web interface to place bets on certain Augur prediction markets with greater speed and ease. The company does this by offering users instant settlement where outcomes of prediction markets are clear.
Investors
- Is part of the portfolio (9-3-2020) of 1confirmation. Still on their website, even though Veil has shut down.
