Thales September Digest

Thales
3 min readOct 2, 2023

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

Thales monthly digest

This is the spot for all of Thales 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

  • Thales Markets are live on the Base Network thanks to TIP-156. The deployment to Base includes THALES staking and our newest product Speed Markets. ⏩
  • Speaking of Speed Markets, check out the Thales Postmint Campaign and Galxe Campaign to score some rewards for trading ETH and BTC markets on shorter time-frames. 🕐
  • Also, don’t forget that the Speed Markets Trading Competition ends on Oct 10th, with a total of 30,000 THALES up for rewards. The top 10 traders by net profit, top 10 by percentage and biggest net losing traders will all receive a share of the rewards! 🏁
  • TIP-163 introduced a Tokenomics update that increased Buyback & burn rates , updated the rewards multipliers for Gamified Staking , and increased the amount of USD you can provide to the AMM as a liquidity provider. 👀🔥
  • We welcomed a brand new Thales Council, thanks to the input of 145 stakers! Join the governance conversation in our discord. 👏
  • 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: Thales.io stand-alone website, multi collateral (ETH) for more products

Overtime Markets

  • Overtime is super excited to launch Player Props! Traders can now purchase positions around individual player performances. The initial rollout includes NFL rushing, TDs, receiving. Check out TIP-162 for all the details. 🏈
  • We’ve also deployed Overtime to the Base network. Get some collateral bridged and start trading NFL, EPL, MLS, Champions League and several European soccer leagues! ⚽🏈
  • Incentives for the Big Leagues continue: NFL, NBA, EPL markets on Optimism and Arbitrum include THALES and OP/ARB rewards. You can read this blog post for info on the formula that calculates rewards. 🏈🏀⚽
  • Parlays have been updated, with a new max limit for positions increasing from 8 to 10, with the limit for max quote up from 69x to 100x. This increases the potential max payout to $20,000!
  • BookieBot will become Overtime’s first Gold Tier affiliate! They will integrate Overtime’s deep liquidity and sharp odds to provide their users with access to the world of Web3 sports markets. As a Gold Tier affiliate, BookieBot will receive 50% of all protocol fees generated by their users. 🤖🏅
  • Overtime has launched our own Friend.Tech profile. Grab a key for the inside scoop on early testing, new features and all the Alpha! Our key will also get you Silver Tier referral status, bringing 0.75% of all USD volume you refer. We’ll also raffle off NFT vouchers each week for key holders, so go grab your key! 🔑
  • Overtime Sports AMM LP performance so far per chain:
    Optimism: +52.49% PnL in 25 weekly rounds
    Arbitrum: +49.19 in 25 weekly rounds
  • Overtime Parlays AMM LP performance so far per chain:
    Optimism: +7.75% PnL in 11 weekly rounds
    Arbitrum: +11.01% in 11 weekly rounds
  • Upcoming: Multicollateral buy-in and payouts. More sports, leagues and competitions are always on the way!

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!

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Thales

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