Hi everyone! Thanks for the Argur and team for the outstanding product that is open and available for the wide audience. Here is my take on pushing its adoption. It's just a raw which I would like to discuss and see if it looks viable to you people.
**NOTICE:** I'm just familiarizing myself with Augur and doesn't understand the platform full yet
Short description: automated arbitrage for merchants via wisdom of the crowd
- counter parties that are ready to make the deal comes to the platform and opens 2/3 multisig wallet. Buyer has a key, Seller has a key and a platform has a key. Buyer and Seller keys are not stored and wasn't uploaded to the platform at this moment
- seller describes what service is provided and upon what condition it should be considered as delivered.
- deal has an execution time
- buyer deposit the cost of the service plus 1% or $10 depends which is bigger. Let's cal this extra an *arbitrage incentive*.
- they conduct their business
- if they are consent with outcome they go to the platform and mark deal either as completed or failed and platform helps them to move their money or extend waiting period. Few possible options are: pay everything to a seller, refund to a buyer, split by percents, extend waiting time.
- if there is a dispute then parties provides their initial statements and platform creates a market for this service and uses *arbitrage incentive* as a no-show bond. That marks beginning of the Open Reporting.
- people are predicting whether result of the deal matched TOS described by the seller or not
- rest of the the *arbitrage incentive* is somehow used to incentivize people voting
- after certain period if there if there were enough predictions (say, more then 7) and 2/3 of them agrees on a deal outcome, then dispute will be resolved as it was predicted by the majority of predictions
- in case there was not enough predictions platform operator(s) can get in and provide their take on ...