According to Alex Sunnarborg, decentralized gambling platforms are also suffering from the same decreasing volume which is badly affecting the decentralized application (dAPP) ecosystem at large.
The founding partner of Tetras Capital, Alex Sunnarborg was reacting on the weekly report of decentralized gambling platform Augur. As per the weekly report of Augur, the total volume of active markets on Augur is less than $100,000. Augur is a decentralized prediction market platform which is built on the Ethereum blockchain. As it is a decentralized platform so users are allowed to create a prediction market unlike betting exchanges such as Betfair which only allow betting questions that are chosen by the site.
In its weekly report, Augur placed the total value of bets which were placed on the platform of $2,040,934.63 (13,451 ETH). The platform achieved this value across a total 1,724 markets. The report also mentioned the development the Forecast Foundation has been working on in the past week including finalizing the new code for P&L calculation and trading page redesigning.
Though, Sunnarborg refuted the claims of Augur about the open interest. In a tweet, Sunnarborg said that this volume achieved also includes already concluded bets. If these concluded bets are removed from the total bets then it will present a different picture of the platform’s adoption.
Augur metrics showing ~$2m ‘total money at stake’ include markets that have already ended.
— Alex Sunnarborg (@alexsunnarborg) January 10, 2019
This is not the first time that the low adoption of dApps compared to expectation has attracted the attention. Before this, the number of dApps with more than 300 active daily users across both EOS and Ethereum came to just eight in total. It is happening in spite of the continuous growth of dApps development, particularly on the Ethereum blockchain. Before this, in November last year, Augur made a record by closing $2 million bets on the US midterm elections but it turned out to be a false dawn as it has not taken off as most of the dApps developers were expecting.