

GroupGnōsis is proud to announce the launch of a proof-of-concept of the GroupGnōsis prediction market. The first market was on the amount of $USD that Augur would raise in their pre-sale. One could buy two types of shares: long and short. Long shares would appreciate in value if Augur raised more USD while short shares would be worth more if Augur raised less money. The exact payout for long shares: (total_amount_raised/20M) ETH and for short shares: (1 - (total_amount_raised/20M) ETH. The maximum value of one share is 1 Ether. Currently trades are restricted to 100ETH per buy for this proof-of-concept.



GroupGnōsis is a fully-featured platform that enables prediction markets to be constructed. It will serve as the backbone for a variety of forthcoming projects involving the development of information aggregating wisdom markets, risk hedging, information trading, decision making, and financial markets. The core of GroupGnōsis is a set of interacting blockchain-based smart contracts. A generic front end is available with which to create prediction markets, and specific, topical front ends are in development. Propositions may be decided using a number of different kinds of mechanisms including an independent data feed, oracle data feed, and an oracle entity called ‘Fact Server’.