Thales July Digest

A brief version of the latest developments and a bit of what’s coming next!

3 min readAug 2, 2023

Thales monthly digests

The idea behind this new series in our blog is to pierce together all the latest developments and important protocol upgrades in one place in a very condensed manner, so it can be consumed in just a few minutes. Some links are added when relevant for those who wish to dive deeper into any of the subjects mentioned.

Let’s go!

Thales protocol

New assets added on Optimism: SOL (Solana), LTC (Litecoin), BCH (Bitcoin Cash), XRP (Ripple), and PEPE (PEPE)
New assets added on Arbitrum: SOL (Solana), XRP (Ripple), and PEPE (PEPE)
All new assets integrated into Thales markets through Chainlink price feeds
Release of Gamified THALES staking 2.0. Revamped mechanism based on TIP-135 which now includes a point-based system to distribute bonus rewards. You can read all the details regarding THALES staking on Optimism and Arbitrum in our documentation.
More than 1,300,000 THALES tokens burned so far thanks to TIP-50, TIP-128, and TIP-141. This represents almost 3% of the current circulating supply. You can check the burn count here 🔥
R&D on ZkSync deployment 👀
R&D on Base deployment 👀
R&D on Etherspot integration (account abstraction) 👀
Work on Speed Markets, based on TIP-149, coming along nicely with the first UI iterations being tested internally 👀
Thales AMM LP performance so far per chain:
Optimism: +10.3% PnL in 12 weekly rounds
Arbitrum: +8.8 PnL in 12 weekly rounds
Upcoming: Speed markets, flex cards, Thales vouchers, Thales.io stand-alone website, multi collateral (ETH)

Overtime Markets

Overtime had its first birthday! 🎂 (or 1-year anniversary since deployment on July 14th)
New sport added: Golf markets ⛳️
Overtime added new leagues (all through Chainlink sports feeds): John Deere Classic (golf), UEFA Champions League qualifications, UEFA Conference League qualifications, NBA Summer League, FIFA WC Women, PGA Scottish Open, and CSGO Intel Extreme Masters.
Overtime launches Affiliate competition. All the details can be found here (there’s still plenty of time to participate!)
Overtime deploys its own FPL (Fantasy Premiere League) for 23/24. This is the second year in a row Overtime sponsors this initiative.
Ongoing incentives: Bookmark this page which is continually updated with Overtime current incentives.
Overtime Sports AMM LP performance so far per chain:
Optimism: +54.7% PnL in 21 weekly rounds
Arbitrum: +49.4 in 20 weekly rounds
Overtime Parlays AMM LP performance so far per chain:
Optimism: +7.2% PnL in 7 weekly rounds
Arbitrum: +10.3% in 7 weekly rounds
Upcoming: Player props, integrations, more leagues

Overtime’s first-year timeline recap

Kicked off Overtime — July 14th 🚀
Hit the 1st million — Sept 21st 🎯
Received a generous OP grant of 300k $OP — Oct 21st 💰
Launched On-chain Parlays (A DeFi’s first!) — Nov 11th 🏀
Unveiled Overtime Vaults — Nov 15th 🏦
Made our Arbitrum debut — Feb 15th ⚽️
Introduced SportAMM LP — May 2nd ⚾️
Rolled out same game parlay — May 16th 🎾
Parlay AMM LP — June 27th 🏈

Overtime’s first-year milestones 🏆

Live on 2 chains (Optimism and Arbitrum)
Firsts to deploy on-chain parlays
Almost 250,000 transactions
A whopping 35m USD in notional volume
Over 2m USD in AMM deposits
Coverage of over 35 different sports leagues and multiple position types

Pretty exciting, eh?

Let’s stay connected

The best way to stay up-to-date with Thales and Overtime’s latest developments, and also actively participate with ideas, suggestions, and feedback is to join Thales Discord.

Make sure to also follow Thales and Overtime on Twitter.

Until the next monthly digest!