Thales finalizes agreement for first-ever 0xDAO grant to drive volume

Thales and 0xDAO together stronk 💪

Thales secured a grant from 0xDAO for facilitating 0x volume growth, and with this marks new territory pioneering in DAO-to-DAO collaboration.

If you want to go fast, go alone; if you want to go far, go together
- Unknown origin proverb

No person is an island and organizations, of any size, shape, and flavor, are bound to interact with others if they want to survive, adapt, and thrive in any ecosystem.

We’ve been closely working with the amazing folks at 0x before, during, and after our implementation of 0x order books into Thales protocol as part of our trading-first model. Special kudos to Nikita, who has been nothing but amazing as a point of contact and caring development partner 🙏.

This relationship has been not only fun but fruitful in regards to finding ways how both projects can continue contributing to each other, being one of those initiatives the main reason for this article and something we are really proud to announce…

Thales gets awarded first 0xDAO grant

We are pretty excited about being the recipients of this first 0xDAO grant for 50,000 USD worth of ZRX to continue further development in regard to the management of Thales’ ZRX staking pool.

Incentive alignment couldn’t be more important when thinking about how to advance what both protocols aim to achieve.

Thales team is proud to work with a collective as well-organized and ambitious as the 0xDAO and excited that the current grant arrangement will create mutually beneficial synergies for both DAOs.

The 0x protocol provides the technical infrastructure to power the Thales dapp, however, it is the wonderful people who make 0xDAO and 0x Labs run that are essential for making possible both this particular grant initiative and the general integration with 0x.

The importance of DAO-to-DAO collaboration and composability in DeFi cannot be understated.

It may just be the future of France

Together stronk

The Thales staking pool is being bootstrapped by the ThalesDAO, which seeded the pool with some ZRX, as well as ZRX from the 0xDAO grant.

This staking pool enables ThalesDAO to participate in the revenue generation process on 0x, which pays out ETH to ZRX stakers and the Thales staking pool itself.

In the interest of attracting ZRX stakers to stake with the Thales staking pool, 40% of all rewards that Thales earns will be shared with ZRX stakers in the Thales pool. As of press time, this is at least 6% more fees shared with ZRX stakers than any other pool.

Consider yourself shilled.

Having control over our dedicated ZRX staking pool gives us more freedom in regard to parameters setting and lets us share a big percentage of the fees generated via 0x order books back to ZRX stakers.

But wait… how do ZRX pools actually work?

Introducing ZRX staking pools

From each trade executed on the 0x order book, a protocol fee is generated.

These fees are accumulated over a 7-day epoch, then automatically distributed by the 0x smart contracts to staking pools that have been set up by market makers.

The size of each distribution is determined by:

  • The relative number of ZRX staked in their pool.
  • The amount of liquidity the market maker provided during the epoch

Market makers, like the Thales staking pool, in this case, can choose to share a percentage of any rewards generated by their staking pool with delegators (also known as stakers).

For a given staking pool, there are two variables determining how much ETH will be earned. The first is the total number of ZRX staked in the pool. The second is how much activity is routed through this pool for the 0x protocol.

So, to maximize the amount of ETH for the ThalesDAO (which is a ZRX staker) and the ZRX holders staking in the Thales staking pool, the number of ZRX in the pool should be optimized to proper saturation. With respect to how the second variable volume impacts rewards for stakers in the Thales staking pool, the more the merrier of course.

This is just a brief to get you up to speed, if you want to dig deeper please check 0x documentation.

Wanna know how to participate?

Everybody welcome to our pool party 🏊

Just to reiterate, our ZRX pool has been already set up and will be sharing 40% of all rewards that Thales earns with ZRX stakers in the Thales staking pool.

You are more than encouraged to participate in the Thales staking pool as a ZRX staker to earn part of those sweet rewards.

The Thales’ pool can be found browsing here, going directly into its dedicated UI page here, or checking it directly on Etherscan here.

Sharing is caring

Yes, we can hear you saying, but where’s mah video tutorials for how to stake ZRX?

0x team has got you covered! (if this is too subtle of a cue, click here for the videos)

What to do now?

So, are you excited enough to start drooling about those shared fees, paid in ETH, higher than any other ZRX pool as of right now 👀?

Then by all means feel welcome to jump in with your ZRX, there’s still plenty of room in this comfy pool.

ZRX pool is just comfy

And if you are still not part of our Discord community, then this is your chance to join a place full of vibrant, like-minded peeps.

Looking forward to sharing ideas and some pool-time with y’all 🏊

Cheers.

Please note the Thales staking pool on 0x is a different staking program than the Thales staking module with native Thales DAO tokens, which is slated for later this year.
Stay tuned for it.

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