Thales Airdrop platform is bringing binary options to Ethereum for users to hedge and speculate on the prices of crypto assets, commodities, equities, equity indices, and proprietary crypto indices. Thales will be the hub for spinning up new binary options markets, swapping binary option position tokens on decentralized limit order books, and claiming the fruits of winning options positions and strategies.
Thales is airdropping a total of 2,000,000 THALES to various SNX stakers. L1 stakers, L2 stakers, xSNX stakers and Yearn vault stakers who’ve staked for at least one snapshot and claimed rewards at least once, every address who made a trade or minted in any market on Thales before the snapshot and every Thales’ POAP holder until the snapshot are eligible to claim the airdrop. The snapshot was taken on September 6th at 10 am UTC.
If you’re eligible, then you will be able to claim 137 THALES.
You will have to pass a simple quiz in order to claim your tokens.
The snapshot was taken on September 6th at 10 am UTC.
Eligible participants are:L1 users who’ve staked SNX for at least one week and claimed rewards (since the beginning of staking in 2019) Users who’ve migrated SNX using L2 bridge or staked SNX on L2 at the snapshot block xSNX stakers who held xSNX for at least a week Yearn vault stakers who had SNX in the vault for at least a week or held yvSNX at the time of the snapshot. Every address who made a trade or minted in any market on Thales before the snapshot. Every Thales’ POAP holder until the snapshot.
Eligible addresses can be found here.
For more information regarding the airdrop, see this Medium article or this guide.
Anyone in the world can create a binary options market based on the prices of supported assets.
Market makers don’t pay a fee but earn as liquidity adds up.
Permissionless, non-custodial and unrestricted.
Trade Binary Options.
Binary options enable users to go long or short on specific outcomes based on price feeds.
Know your odds, capture opportunities to profit on trends, or hedge risk on volatile assets.
Trade, mint, and exercise binary options like never before!
To get started you’ll need
Web3 wallet, like Metamask
Ether to pay for network fees (also called gas)
Synth USD (sUSD), which can be obtained on Uniswap, 1inch, Curve etc.
Who is Thales?
Thales was a thinker born in ancient Greece who liked to collect data and study natural phenomena but was taunted by others with the uselessness of philosophy because of his poverty.
One year, Thales discerned the olive harvest will be bountiful next season by his study of the heavenly bodies. Armed with his knowledge he bets on this with a small sum of money by paying deposits for the whole of the olive presses in Miletus, which he hired at a very low price as nobody else was bidding.
When the harvests arrived he realized a large sum of money by renting the presses on his terms when demand grew, becoming the first known person to exercise an options contract.
Thales DAO tokens will be a standard ERC20 token using the ticker THALES. 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.
THALES token will have a total supply of 100,000,000 (100 million) and will be distributed as follows:
35% to SNX stakers, divided as follows:
2% Retro airdrop to anyone who ever staked SNX
15% Retro pro-rata rewards
18% Ongoing rewards
30% Growth fund, divided as follows:
9% Strategic round
2% Crowdpooling event
18% Thales DAO treasury
1% THALES/ETH LP rewards
20% Thales Core Contributors
15% THALES staking rewards
Why use Thales?
The key advantages of using Thales are that nobody can stop you from interacting with the Thales smart contracts, and you do not have to rely on a third-party to custody your funds. The Thales team has only built the software for these systems to run, but the Thales team will never touch user funds.
A key selling point is the Thales smart contracts only consume uncensorable, decentralized stablecoins as inputs, the sUSD. The only way to participate in trading or minting of binary options on Thales is with sUSD, the flagship decentralized stablecoin of the Synthetix ecosystem.
In this way, Thales offers traders around the world the chance to bet on their beliefs about crypto prices. If a trader thinks the price of Ether will go much higher, the trader will be interested in long binary options on Ether.
There are two main user types for Thales. The first are punters, speculators, and people who want to take a chance on crypto prices. The second are people who make the market for these users to pick their bets.
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