On July 11, the Ethereum based Veil prediction platform was officially closed.
On July 24, the subscription will be deactivated completely. Veil's co-founder, Paul Fletcher-Hill, recommends that users pull Ether Ether and turn it into Ether.
The veil is a platform for predicting Ethereum-based markets, which use smart-contract to allow users to make and bet on Market results. Augur is also one of the prediction markets that are still actively operating.
Last April, Augur added stablecoin DAI from MakerDAO, on its platform to position transactions.
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The veil was created to bring mainstream Augur and accelerate its transactions for user experience. Veil allows users to trade faster through the 0x protocol on the Augur market and allows users to sell their shares to Veil.
The reason is Veil does not record the success due to several reasons. According to Fletcher-Hill, he noted a number of problems, and one of them was that the platform was not friendly to novice users.
"We don't offer a good orientation experience. Crypto as a user base is still early, and we don't make it easy enough for users without crypto or wallet to start (in Veil). "
Some other things that might be a problem are also considered such as not being decentralized, unregulated, and perhaps too many choices. Fletcher-Hill writes:
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"In the end, we failed to find a good match between what we built and the market as it is today. ... But today a small user community, and we think there are high-impact products and services that we can build for the future. "
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