Augur released their reputation token, REP, yesterday and it was quickly added onto multiple trading platforms.

Throughout the day, Poloniex, Kraken, and ShapeShift announced via Twitter that traders could now trade with REP.

Kraken was the first to tell traders REP was available on their platform. Traders can acquire REP through USD, CAD, EUR, and JPY fiat pairings. Virtual currency traders can trade ETH or XBT in order to collect REP.

Augur expressed their gratitude towards the exchange.

We all know that Kraken is one of the top exchanges in the space. This is more important: we are personal fans of the overall Kraken trading experience. We use Kraken, we trust Kraken and – this true – even Joey Krug’s mom uses Kraken! We are elated that they’re featuring REP trading on their platform. We predict that trading of REP on Kraken will be strong :)

The demand for REP on Kraken was very overwhelming. Numerous requests for the token caused a delay in receiving REP.

Poloniex opened REP/BTC, REP/ETH, and REP/USDT markets for their customers. ShapeShift not only added REP to their platform, but SingularDTV’s token, SNGLS, as well. Traders can acquire both tokens without the use of an account.

Exchange trading markets were not the only ones looking at the new token distribution. MyEtherWallet added both REP and Plutus’ token, Pluton (PLU), as default tokens. Augur’s Director of Marketing, Tony Swish, took to Reddit to explain how  potential REP holders can store their tokens.

The prediction market held a crowdsale for REP last year, raising over $5.3 million. These tokens are only available for trading at this time. Augur is currently running in beta, but it will soon enable their markets. No time or date has been set. But when it does, these REP tokens can be used throughout the platform. If a user wants to get involved in one of the open markets, they can use REP to predict the outcome. If they predicted correctly, they will be rewarded in REP.

Danielle Meegan

Danielle Meegan is a writer at ETHNews who is based in Los Angeles, though she is a native of New Hampshire. Danielle has been published in a couple of magazines and newspapers throughout the years covering sports and entertainment. Danielle has dabbled with multiple virtual currency exchanges to understand the ins and outs of trading. As of right now, Danielle has invested in over 15 different virtual currencies, including Ether. Read More
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