Novel on-chain, permissionless, and non-custodial Parimutuel Markets.
Thales is an Ethereum protocol that allows the creation of peer-to-peer parimutuel markets that anyone can join. This building block is the foundation of novel on-chain initiatives, from a platform for AMM-based positional markets to immersive gamified experiences, and much more.
The set of smart contracts composing Thales leverages uncensorable sUSD as collateral, an immutable source of truth for market settlement from Chainlink data feeds, and all the advantages (speed, costs, and security) of a rollup-centric network like Optimism.
Decentralization is key to resiliency. This is why ThalesDAO, as a collective, is the owner of the protocol and it conducts governance through the Thales Council, elected by THALES token holders.
Because building on the right foundations attracts like-minded people who care deeply about the open finance vision. With the support of bright minds, talented souls, and passionate people from the Thales community the protocol gets iterated, battle-tested, and more resilient every day. We are on our way to becoming unstoppable.
What is a Parimutuel Market?
The definition of a Parimutuel Market is a market where collateral is placed in a pool and final payout to participants is not determined until the market-settling event is finalized.
What type of collateral do Thales' Parimutuel Markets support?
Thales smart contracts exclusively support sUSD, an uncensorable and decentralized stablecoin, as collateral. This stablecoin is the flagship product of Synthetix.
What is the utility of the THALES token?
Thales DAO (THALES) governance token is a standard ERC-20 token used to govern the Thales protocol. These tokens grant the respective staker a right to participate in the Thales governance functions. In this way, THALES staker represents the foundation of every key decision relevant for the development of the protocol. Any additional utility of the token, that could be relevant to the protocol, can be decided and voted on by the protocols community governance structure.