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Augur's report claim a big amount of interest of their betting platform, while the truth is they're struggling with a low adoption.
Betting platform, Augur just posted their weekly report on their Medium account recently. Dated January 10th, the report contains the development the Forecast Foundation has been working on in the past week, such as trading page redesign and finalizing the new code for P&L calculation.
The company also reveals the current market size of their DApp in number of contracts as well as in fiat and crypto value.
They claim to have a total of $2,040,934.63 or 13,451 ETH of Open Interest and $1,896,284.45 or 12,498 ETH of Cash Contract.
The claim is refuted by Tetras Capital’s co-founder, Alex Sunnarborg who claimed that the actual value is way below the stated amount on the report.
In a tweet, Sunnarborg said that the $2 million something amount included markets that have already ended.
“If we exclude markets that have ended there is <$100k total money at stake on Augur,” he added.
Augur metrics showing ~$2m ‘total money at stake’ include markets that have already ended.
— Alex Sunnarborg (@alexsunnarborg) January 10, 2019
If we exclude markets that have ended there is <$100k total money at stake on Augur.@AugurProjecthttps://t.co/Lrxr1GWCqLhttps://t.co/aw2PvBkV7A pic.twitter.com/2AtOA14rj9
The truth of the matter, Augur is not the only dApp that struggles with a low adoption. According to CCN, a report released on August last year revealed that there were only 8 dApps that have more than 300 active daily users, both on Ethereum and EOS network.
Some consider the low adoption as the evidence of the “fundamental failure” of dApps to deliver their promises, however, not everyone agreed to that opinion.
Gnosis founder, Martin Koppelmann still believes that the success of dApps shouldn’t be measured by the number of users, instead, it should be seen from how many dApps are created and use contracts from other dApps.
Despite the disagreement on the success measurement, no one could deny the success of TRON, which undoubtedly has surpassed the other similar platforms.
By the end of last year, TRON recorded more than 100 million transactions in 173 days across 50 dApps with 1 million accounts.
The founder, Justin Sun even invited ConsenSys devs to join the "TRON family", while regularly tweeting how his network successfully surpasses Ethereum in terms of transaction number.