Augur is a token designed to combine a decentralised network with the prediction market, to create an accurate forecasting tool.
The aim is to create the chance to make real money by trading profits on the predictions.
It's not simply for stocks or altcoin markets; you can also predict the outcome of real events, for example, who will be elected as the president of the US, or which actor will win Best Actor at the Oscars.
A key selling point for Augur is that it is built on the Ethereum blockchain, meaning no central servers. You can also create your own prediction markets, meaning that you pay in money initially to set it up but you will then collect 50% of all trading fees that go into the market.