THALES tokenomics v2.0

A comprehensive and updated guide to the THALES token

Current tokenomics

THALES is a standard ERC-20 token deployed on Optimism (where its deepest liquidity resides), Polygon, and Ethereum mainnet with a maximum total supply of 100 million tokens, used by the community as the governance token of Thales DAO.

  1. 8.75% to SNX stakers [Already distributed]
THALES token distribution v2.0

Tokenomics history

The THALES token was launched on L1 Ethereum in September 2021 via DODO Crowdpooling Event (with an oversubscription that exceeded the hard cap by 500%!). The TGE (or token generation event) minted 100,000,000 THALES tokens as capped total supply.

THALES original distribution
Simplified view of the new THALES token distribution, for comparison
  1. Changing Synthetix-related distribution
  2. Introduction of Gamified THALES staking
  3. Introduction of buyback-and-burn
  4. Thales Core Contributors allocation reduction

Synthetix-related changes

  • TIP-18 paused the retroactive distribution to SNX stakers as part of the introduction of gamified staking by TIP-17 (more on this below).
  • TIP-32 gave a deadline for claiming the one-off airdrop, unclaimed THALES designated for this airdrop were returned to the treasury of ThalesDAO.
  • TIP-37, championed by Kain (Synthetix Co-founder) effectively stopped the vesting of the retroactive distribution for SNX stakers. With this he forfeited his own allocation as the largest SNX staker for the greater good of Thales protocol 👏
  • 4,500,000 THALES to retroactive SNX stakers
  • 2,250,000 THALES to ongoing SNX stakers
  • 2,000,000 THALES to any SNX staker via one-off airdrop

Introduction of gamified staking

  • Base rewards (currently at 60,000 THALES weekly)
  • Bonus rewards (currently at 30,000 THALES weekly)

Introduction of buyback and burn mechanism

🔥 🔥 🔥

Thales Core Contributors allocation reduced

As explained in TIP-9, after a Thales Core Contributor stopped contributing and communicating with the rest of the team, the situation was shared with the community-at-large. It was decided by governance to re-allocate his future THALES tokens, send back 2% to ThalesDAO treasury, and reduce the Thales Core Contributor part of the distribution from 20% to 18%.

Closing thoughts

With the current tokenomics design Thales is ready to tackle the next years of development.

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Thales

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