Thales May Digest

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

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

• Final results for Thales Council (Thales governance body elected by THALES stakers). New Council started its duties on May 1st and until the end of August.
• Thales AMM opens up deposits for THALES stakers with a 5:1 ratio of THALES:USD on both Arbitrum (USDC) and Optimism (sUSD)
• Thales 2.0: Redesigned UI/UX focusing on a simple but powerful design where all markets (UP, DOWN, IN, or OUT) are on the same screen, making the experience more intuitive.
• Thales markets also greatly reduced its SafeBox fees and now offers spreads that are tighter than ever, thanks to TIP-144.
• Upcoming: Continue enhancing Thales UI based on community feedback, Thales flex cards

Overtime markets

• THALES stakers can now provide liquidity to Overtime sports AMM with a 5:1 ratio of THALES:USD (previously 10:1 ratio), effectively doubling their allowance, thanks to TIP-140.
• Max cap for deposits on the sports AMM has been raised to 1m USD per chain (sUSD on Optimism and USDC on Arbitrum)
• Max Parlay quote has been raised to 50x
• Latest audit covering Overtime’s AMM liquidity pools has been shared here
• Onboarding campaigns with Velodrome and Camelot communities
• Overtime sports AMM upgrade including partial withdrawals (min. 10%) and the possibility of withdrawing independent of the allowance (when the deposit experiences positive PnL rounds and it deviates from the 5:1 ratio)
• New leagues added (all through Chainlink sports feeds): IIHF World Cup (Ice Hockey), Emilia Romagna GP (F1), T20 Blast (Cricket), Roland Garros (Tennis, with OP and ARB incentives)
• Totals and spreads added to Euroleague and IIHF WC
• First dapp to offer on-chain Same Game Parlays (SGP), so now multiple market types can be mixed within the same game.
• Ongoing incentives: Bookmark this page which is continually updated with Overtime current incentives.
• Overtime Sports AMM LP performance so far per chain:
  Optimism: +51.1% PnL in 12 weekly rounds
  Arbitrum: +43.8 in 11 weekly rounds
• Upcoming: Parlay AMM LP opening to THALES stakers, player props, more sports and leagues to be supported

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!