Thales (THALES)

Thales is a decentralized binary options protocol that a group of Synthetix community members spun out from Synthetix in 2020.

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release: 28-7-2021
• Thales Market; binary markets which will airdrop tokens to SNX stakers (5-7-2021).

Audits & Exploits

• Bug bounty program can be found [insert here].

Token

Token Allocation

• From the token announcement (5-9-2021):

"THALES token will have a total supply of 100,000,000 (100 million) and will be distributed as follows:

1. 35% to SNX stakers, divided as follows: 2% Retro airdrop to anyone who ever staked SNX, 15% Retro pro-rata rewards, 18% Ongoing rewards
2. 30% Growth fund, divided as follows: 9% Strategic round, 2% Crowdpooling event 18% Thales DAO treasury, 1% THALES/ETH LP rewards
3. 20% Thales Core Contributors
4. 15% THALES staking rewards"

Utility

• From the token announcement (5-9-2021):

"Thales DAO token will be used to govern the Thales protocol. Any further utility is to be decided and voted on by Thales DAO token holders or their chosen representatives, the Thales Council."

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on: Optimism (22-12-2021).

How it works

• From Bankless (7-6-2022):

"If held until expiry, binary options have only two payoff possibilities: a predetermined amount of profit or nothing at all. Thales relies on Synthetix’s sUSD stablecoin for 1) minting its binary options tokens, and 2) as the platform’s unit of account."

Scaling

• Went live on Optimism (22-12-2021).

Oracle Method

• Uses Chainlink on Optimism (22-12-2021).

Roadmap

• Can be found [Insert link here].

Team, Funding and Partners

Team

• Full team can be found [here].

Funding

• Raised $2.5 million (20-7-2021) in a strategic investment round led by Framework Ventures and Apollo Capital.

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