Thales Q1 recap: Redesign, multichain, Oracle Council & much more! 🔥

6 min readApr 11, 2022

Hey everyone! We got pretty exciting news and lots of new developments to unpack so let’s get into it 💪

First things first…

Thales platform redesign

On April 4th the revamped design for Thales platform saw the light ✨

This new iteration includes a redesigned profile page with all positions, a market overview redesign with new filtering, and markets pages presented in a clearer way (both AMM and order book).

Check it here: 📈

New Thales platform UI 💙

All our documentation has been updated to reflect the UI and terminology changes. For example, you can check a trading guide here.

This was a coordinated effort between developers, designers, and pretty much the whole team iterating over how to solve the community’s pain points and make the trading experience as easy and as comfortable as possible.

We’ve been listening to our community’s feedback regarding the new design and we are already deploying fixes and improvements based on their request, like adding the ability to click on the wallet address in the top-right corner to redirect to the profile page (so it’s much easier to find now), updating the AMM views so it’s less cluttered and clearer, etc.

We’ll love to keep getting your feedback on it, so if you are up for it we are all ears (and eyes) in the #product-feedback channel in our Discord.

Habemus Oracle Council

If you haven’t been following the discussion around exotic markets and the Oracle Council we highly recommend you check TIP-35 with all the details, for context.

We are pretty excited to announce that this election was a total success with 11 candidates pitching and campaigning in Thales Discord.

THALES stakers voted between March 30th - April 4th, and elected the 5 members of the Oracle Council 👏

Oracle Council, colorized. Credits: Kristina, from Thales CC.

Congratulations to:
Cvija | Thales
MiLLiΞ __/
milkywave | (mzur)
Coa | Thales

Elected Oracle Council

Thanks to everyone who participated in this election, we are pretty excited to see how this new initiative develops and how the process for market resolution and disputes evolves at the hand of the Oracle Council 🔮

Exotic markets soon

Yes, with the Oracle Council elected and the Exotic markets platform demo being iterated internally (thanks everyone for their feedback!) we can see this release coming to live very soon…

Living the exotic life, wdyt?

Thales goes to Polygon!

Yes, you read that right, Thales goes multichain!

Just approved by Thales Council on TIP-40, the deployment of Thales platform and Thales Royale into Polygon is imminent.

We’ll have a detailed blog post soon, but for now, we can tell you that:

  • The tentative date for launch is Monday, March 18th 2PM UTC 📆
  • Thales platform (including MATIC markets 👀) will be deployed on Polygon along with Thales Royale events
  • There will be an incentivized trading competition with dual rewards (THALES and MATIC!) 🏆
Thales getting ready for his Polygon adventure

Stay tuned for the full blog post during the next few days!

Thales Royale

Thales Royale Season VI (6)

We are reaching the end of the first iteration of Thales Royale Seasons, with registration for Season VI (number 6) scheduled to start on Wednesday 13th, 4PM UTC. For this season we are adding 3 important changes, so we delayed the start of the registration period a couple of days to properly test everything.

The changes for this event are:

  • LYRA as the tracked asset
  • Possibility to choose all your positions for every round (UP or DOWN) when registering (you can change them later when playing every round)
  • Addition of an evolving NFT Passport! (keep reading for more info 👇)
Notice something different?

Remember that you can register for Thales Royale Season VI with either 30 sUSD or a Thales Royale Pass NFT.

Thales Royale Passport, an evolving NFT

After lots of research and development, with TIP-42 being just approved by Thales Council, we are pretty proud to present an NFT that evolves with your position when playing Thales Royale, opening up many possibilities for those looking to enrich the experience within the game.

Thales Royale Passport NFT, beautiful isn’t it?

After this deployment, the mechanism of participation is not in whitelisted buy-in wallets anymore but in the Passport NFTs themselves. The NFT itself represents the entity that is going through the Royale rounds.

You’ll be able to experience this at the upcoming event, Thales Royale Season VI.

Pretty groundbreaking stuff, right?

Royale of Royales

As we are approaching the end of the first 6 Thales Royale Seasons, we felt it’s good to remind everyone that all the winners from these 6 Seasons will get a sponsored entry (equivalent to 100 sUSD) into the Royale of Royales, a higher buy-in event where the best of the best will compete for some juicy prizes, exclusive NFTs, and the right to brag as the absolute Royale champion.

Expect a detailed blog post after Season VI ends.

TIPs recap

Presenting in a very brief way, some highlights from Thales governance and recently approved TIPs (Thales Improvement Proposals). This list is non-exhaustive, you can check all TIPs on Thales governance page.

Without further ado…

What he said.

TIP-37 | Stop vesting of the retro SNX rewards

Thales has effectively distributed almost 60% of its circulating supply to SNX stakers so far, so this TIP proposed to stop the retro-allocation to SNX stakers entirely (maintaining the ongoing allocation).

This TIP proposed an execution plan that involved stopping the LEGACY THALES migration contract, and auto-migrating all current holders of LEGACY THALES tokens. Effectively completely deprecating the LEGACY THALES token.

A reminder of the difference between LEGACY THALES and THALES.

Everything went smoothly and the change is already reflected on most dashboards like Coingecko.

This TIP was presented and championed by Kain (Synthetix founder), you can listen to this presentation here.

TIP-30 | Thales AMM v0.3 Update

This update (thanks to Thales big brains) comes with major improvements to pricing and skew impact mechanism, allowing for a subsequent lowering of strict safety limitation parameters and thus majorly improving UX for traders on the Thales marketplace.

TIP-34 and TIP-39 | Integrating new assets from Chainlink feeds

First TIP addressed the integration of ATOM, AVAX, BNB, FLOW, FTM, MATIC, NEAR, ONE and SAND as supported assets on Thales.

Second TIP opened up the possibility to integrate any Chainlink feed (approved by ProtocolDAO at their own discretion), removing some overhead.

TIP-41 | Extension of THALES token LP program

The Olympus Pro bonding program (utilizing THALES/WETH G-UNI LP tokens) on Optimism has been a success, with Thales acquiring over 100k USD (equivalent) of Protocol-owned liquidity.

This TIP proposes to continue this initiative, check the TIP for all the details.

Miscellaneous news

  • THALES has been finally listed on Debank platform
  • Zapper request is ongoing with more than 100 upvotes on the official request and Tweets asking for its support. Please help us upvote and sharing the tweet 🙏
  • THALES integrated into Discord Tipbot for both L1 (updated from old token contract, fully functional) and Optimism, so now you can also deposit/withdraw THALES token from OP (inside Tipbot it’s called opTHALES to avoid confusion with the one from L1).

Next steps

Well, the next steps are pretty clear and cut:

Get the Thales platform and Thales Royale into Polygon, start testing the Exotic markets platform internally along with the Oracle Council, continue developing Parimutuel sports markets along with Chainlink, and of course, continue innovating in the vast intersection between DeFi and GameFi.

Join us in this journey and be part of a paradigm shift in on-chain derivatives.

LFG! 🔥




Thales is an Ethereum protocol that allows the creation of novel on-chain, permissionless, and non-custodial Parimutuel Markets.