Two-thirds of all REP tokens are sitting unmigrated with barely a week until the deadline. That’s roughly 7.3 million tokens out of 11 million total supply that haven’t made the jump to the new REPv2_Yes_1 token, and Coinbase just made clear it won’t be doing the heavy lifting for its users.

The exchange issued a warning that it will not execute REP migrations on behalf of customers. If you’re holding REP on Coinbase, you need to move it to a self-custody wallet and handle the swap yourself before August 1, 2026. Otherwise, you could end up holding a token that’s functionally obsolete.

What triggered the fork

Augur, the Ethereum-based prediction market protocol, initiated a fork back in early April 2026. The catalyst was a dispute resolution mechanism test tied to a market query about the Artemis II launch.

The migration window opened in June 2026, giving REP holders roughly two months to swap their legacy tokens for REPv2_Yes_1 using the official migration tool hosted at augurfork.eth.limo. The deadline lands between August 1 and August 3, depending on the source, but the conservative play is treating August 1 as the hard cutoff.

This isn’t Augur’s first migration rodeo. The protocol previously went through a REPv2 migration back in 2020 following a major platform upgrade.

Only 33.6% have migrated

As of late July 2026, approximately 3.7 million REP tokens have successfully migrated. That’s just 33.6% of the total 11 million supply.

The Lituus Foundation, which has been involved in Augur’s ongoing development, has already migrated its own REP holdings and contributed liquidity to the REPv2_Yes_1 token.

The exchange wildcard

Coinbase chose not to support the migration on behalf of users. Other exchanges may respond differently. Kraken, for instance, could potentially support the migration directly or move toward delisting legacy REP, and either decision would meaningfully affect liquidity and trading dynamics for both the old and new tokens.

What this means for REP holders

If you’re holding REP anywhere, the playbook is straightforward but time-sensitive. Move tokens to a self-custody wallet compatible with the migration tool, visit the official augurfork.eth.limo interface, and execute the swap to REPv2_Yes_1 before August 1.