Veil is built on top of Augur, the leading prediction market protocol on Ethereum. We think Augur is the most exciting and sophisticated set of smart contracts being used today. Augur lets anyone create, trade in, and report on prediction markets.

Veil is designed to bring Augur mainstream. All markets listed on Veil are represented as Augur markets on Ethereum, and we’ve augmented the Augur experience in two meaningful ways:

  1. Veil makes trading faster and cheaper. Ethereum transactions are slow, so we’ve used the 0x protocol to speed up trading and minimize the number of transactions you need to send. Veil order creation and cancellation happens off-chain, and Veil pays gas to persist trades to Ethereum.
  2. Veil helps you get paid faster. Augur’s decentralized oracle system ensures markets are resolved correctly, and it’s a necessary component of a trustless network. But the finalization process can take weeks to complete. Veil introduces a feature for supported markets we call instant settlement. That means you can redeem your Augur shares for ETH as soon as the market expires. Veil has high confidence that the markets will be reported on and settled correctly, so we let you sell your Augur shares to Veil immediately at the reported price rather than waiting for finalization in Augur. Instant settlement is optional, but the idea is to let you choose your own level of trustlessness.

There are three ways to use Veil—we recommend trying them all out:

  1. Veil, a streamlined UI designed for easy and fast trading. This is the default UI and is designed for accessibility and sharing.
  2. Veil Pro, an exchange-like UI meant for sophisticated and frequent traders.
  3. Veil API, our REST API for algorithmic or programmatic traders.

Our goal is to make Augur easy to use and ubiquitous. We foresee a not-so-distant future where millions of people create and trade in millions of markets. And we can’t wait to help make that a reality.

Mainnet launch: January 15, 2019

Veil will be launching on Ethereum’s Mainnet on January 15, 2019. Our alpha release has been live on Ethereum’s Kovan test network since September 2018. Try out the alpha now to get a sense for what’s to come.

Given the regulatory environment for derivatives in the United States, Veil will at first be launching internationally. The Veil platform is operated by Veil International, Ltd, a company in the Cayman Islands. The platform will not be available to users in the United States, Cuba, Syria, North Korea, the Crimea region, or any OFAC-embargoed nations.