Description
Overtime differentiates itself in the blockchain sports market space by offering a decentralized, non-custodial trading platform for sports events. It's inspired by Thales contracts, providing instant liquidity and competitive odds. Unlike typical sports markets, Overtime requires no KYC, user registration, or fund custody, and operates as a public good without its own token. Governed by the Thales Council, elected by THALES stakers, Overtime emphasizes community-driven proposals and decisions. The project's financial backing and grant status are not specified in the provided information.
Value Proposition
Overtimes Market is a sports markets AMM built on the Thales architecture. Overtime is a positional market for popular sporting events that operates without relying on a centralized entity like most sports markets. With Thales contracts used as inspiration for the Sports AMM and Parlay AMM. Traders can experience all the fun of sports markets with no KYC, no one taking custody of your funds, and no user registration. No one can be excluded or stopped from using Overtime.
This is the first product available to the public that can boast decentralization, instant liquidity and very competitive odds, all in one place. Overtime is bringing the game to the blockchain!
Governance
Overtime has grown out of the Thales protocol as an outlet for the community's desire to trade sports markets without relying on a centralized entity. This respect for decentralization has been inherited from Thales along with the governance structure that runs the protocol. The Thales Council consists of 7 community members that have been voted in by THALES stakers and serve a 4 month epoch. Voting is currently only done on the Optimism Network. This process is fully on-chain and transparent, gives everyone the same access to council positions, and encourages rotation among candidates. The community then creates, vets and submits Thales Improvement Proposals (TIPs) which the Thales Council review and vote on.
Tokenomics
Overtime Markets currently doesn't have a token.
Previous Funding
Overtimes Market has not received venture capital investments but has been granted 300,000 OP tokens from the Optimism Collective. This grant is being used to incentivize user growth and engagement with the platform. Importantly, these tokens are distributed to the community rather than held by the team.
