Thales expands to Arbitrum with Chainlink. Thales is a protocol and a platform. Named after the famous Ancient Greek philosopher, where you can participate in different positional markets with easy-to-understand derivatives.
Positional markets are based on the Parimutuel structure where participants pool collateral in exchange for positional tokens. When a market resolves the winnings devides its holders of the winning positional tokens.
Every positional token is price by Thales’ AMM between 0.1 and 0.9 USD. Depending on the odds it estimates based on the Black-Scholes algorithm. The lower the odds, the cheaper the positional token. When the market resolves, holders of the winning positional tokens can redeem each one for 1 USD. Losing positional tokens aren’t redeemable and hold no value.
This simple mechanism makes it easy to understand the risk and reward of a position and is flexible enough to serve as a money lego for several types of markets, including crypto-asset prices, sports results, and real-life events.
For this Arbitrum release, Thales decided to go with USDC and USDT as collateral, making the firm commitment to support sUSD as soon as it’s available and liquid on the Arbitrum network.
What does Thales bring to the Arbitrum table?
- Thales platform requires no registration. One web3 wallet is your passport to novel on-chain derivatives, with multiple forms of collateral (USDC and USDT for Arbitrum).
- The results for the settlement of markets are provided by Chainlink. Having integration with the industry leader in decentralized data feeds means one thing: Market results you can trust.
- When you buy positional tokens (UP, DOWN, IN, or OUT) there are no liquidations involved, you can only lose what you risk on each market and no more.
- You can sell back a positional token to the AMM and exit your position at any time up until 24 hours. From the market target date, provided there is liquidity in the market. There’s a possibility for early exits or profit-taking.
- Thales DAO has an amazing community very involved in decentralized governance practices, with engaged members and very smart individuals which help iterate and improve the protocol and platform(s) every day. Resilience is the name of the game.
New tokens: MAGIC and DPX
Once the Arbitrum deployment was decided Thales started researching and looking at Arbitrum projects (with their tokens) that fulfilled two criteria:
a) They had a passionate community behind
b) They had a Chainlink feed live to be used on Arbitrum
ABOUT Thales Market
Thales is an Ethereum protocol that allows the creation of peer-to-peer parimutuel markets that anyone can join.