Thales Royale Seasons are going live on Optimism!
Are you ready for the battle?
For those who were around and played the first iteration of Thales Royale on Kovan OVM (testnet), do you recall the thrill?
And for those who couldn’t participate in the initial test run and were eagerly waiting for a new chance…
Today is your lucky day! 🍀
But let’s not get ahead of ourselves here. Some people might still don’t know what Thales Royale is. For them, here’s a brief explanation.
What is Thales Royale?
Thales Royale is a sequential winner-takes-all positioning game played in 6 rounds.
In each round, players will be presented with an asset target price (in this case an ETH price feed, provided by Chainlink), and they’ll have to choose (during the 8-hour positioning period) if they think it will go up (△) and be above the target price or down (○) and be below it.
After the positioning period ends, there will be 16 hours of resolution period, where positions can’t be changed, completing a 24-hour round.
Once the resolution period reaches its end, the smart contract will retrieve the ETH price from the Chainlink feed to compare to the target price, and all players who chose correctly (either above or below target price) will advance to the next round.
Sounds simple enough, right?
The cool part is that players need to choose the right position 6 times in a row to win the Season, so it’s indeed a challenge, but with great added rewards!
Interested? Keep reading! 👇
How do I participate in Thales Royale Seasons?
Starting today, Monday 31st at 16:00 UTC, and every two weeks we’ll have one Thales Royale Season (from I to VI, yes we like the roman numerals) for you to participate and show the competition who’s the best trader around.
Here’s a list of current Seasons:
- Season I: Monday, January 31st, 16:00 UTC
- Season II: Monday, February 14th, 16:00 UTC
- Season III: Monday, February 28th, 16:00 UTC
- Season IV: Monday, March 14th, 16:00 UTC
- Season V: Monday, March 28th, 16:00 UTC
- Season VI: Monday, April 11th, 16:00 UTC
These events will all take place in the Optimism network (Layer 2), to leverage its near-instant confirmations and low-fee transactions (at the time of writing between 1–2 USD per tx, depending on mainnet gas conditions).
For these Seasons the buy-in is set to 30 sUSD, and the winners will split the pot composed of:
- All buy-ins
- 1000 THALES (incentive added from treasury)
- 1000 sUSD (incentive added from treasury)
Each winner (of every Season) will also get a special NFT, commemorating their triumph 👀
We’ve prepared a detailed guide in our documentation so we highly suggest you take the time to review it: How to participate in Thales Royale?
Here are some of the most important details:
Thales Royale Seasons:
- Event Sign-up phase duration: 3 days (72 hours)
- Number of Rounds per Season: 6 rounds
- Individual Round Duration: 24h (8h positioning phase + 16h resolution phase)
- Buy-in: 30 sUSD
- Total Prize pool per Season: Current Season’s buy-in pool + 1000 sUSD + 1000 THALES
- If there is only a single person “alive” after a certain round, he is declared the winner.
- If everyone is eliminated after a certain round, the final round participants are all declared winners.
So, what’s gonna be?
The battle is about to start and, as you read before, will become a seasonal thing.
Get your trading skills sharpened and be ready to join the fun in the Thales Royale channel in our Discord (some say the hype and trash talk is half the fun!)
Also, if you have any doubts, questions, or feedback regarding Thales Royale or anything Thales-related, the best place to ask it’s our Discord server.
We are very excited about continuing the development of gamified products that can leverage the power of Parimutuel markets in a fun way.
Join us for the ride! 🚀