As of now, Thales has continued to develop and reach every significant milestone outlined in the past.
Between the Polygon and Optimism network, Thales (and the systems built atop) have amassed a volume of more than 8.5 million USD.
With a large user base, active communities, and a strong staff behind it, Arbitrum was the next obvious step in Thales’ growth. Users enjoy using Thales in a setting with quick transactions and affordable prices.
The TIP-79 required the Thales markets (including ranged marketplaces) platform to be implemented on Arbitrum, and it was accepted by the decentralized governance body of Thales, known as the Thales Council.
Named after the well-known Ancient Greek philosopher Thales, this protocol and platform allow you to trade in various positional markets using simple derivatives.
Positional markets, hold on. What exactly does that mean? The Parimutuel framework, which allows users to pool collateral in exchange for positional tokens, serves as the foundation for positional markets. The owners of the successful positioning tokens divide the proceeds once a market resolves. In essence, Thales’ AMM (Automated market maker) values each positional token between 0.1 and 0.9 USD, based on the chances it calculates using the Black-Scholes method. The positional token is less expensive as the odds decrease. Holders of winning positional tokens can exchange each for one dollar when the market settles.
Losing positional tokens have no value and cannot be redeemed. This straightforward mechanism makes it simple to grasp the risk and reward of a position and is adaptable enough to act as a financial building block for various markets, including the prices of crypto assets, sports scores, and actual occurrences.
They explicitly promised to support sUSD as soon as it becomes available and liquid on the Arbitrum network by choosing USDC and USDT as security for this Arbitrum launch.
We’ve discussed what Thales is and how it functions, but we also wanted to discuss how it differs from other systems and where it has an advantage:-
- No registration is needed for the Thales platform. You can access unique on-chain derivative products with just one web3 wallet and various forms of collateral (USDC and USDT for Arbitrum).
- ChainLink offers the outcomes for the settling of markets. One thing that follows from having an interface with the market leader in decentralized data streams is reliable market outcomes.
- Since there are no liquidations when you purchase positional tokens (UP, DOWN, IN, or OUT), the maximum loss is the amount you are willing to risk on each market.
- If there is liquidity in the market, you can always sell back a positional token to the AMM and close out your trade anytime within 24 hours after the market goal date. Fundamentally, there is a chance for profit-taking or poor performances.
- The Thales DAO has a fantastic community that is deeply committed to decentralized governance principles. Its members are active and extremely intelligent, constantly iterating and enhancing the protocol and platform(s). Resilience is the key to success.