Description
Thales stands out in blockchain markets with its Parimutuel Markets, focusing on crypto asset price movements. Its governance token, $THALES, is used for protocol governance and DAO elections. Governance is decentralized, involving various DAOs and THALES token stakers. Thales raised $2.5 million from Framework Ventures and Apollo Capital, underlining its strategic growth and market potential.
Value Proposition
What makes Thales unique is the ability to offer Parimutuel Markets on the blockchain. In Parimutuel Markets, collateral is placed in a single shared pool, and that pool is awarded to winning participants after a market-settling event has occurred. A Market-settling event can be one of the two mutually exclusive outcomes, or it can be one of many mutually exclusive outcomes. The Parimutuel format is great for creating markets that focus on the price movement of crypto assets.
Governance
Thales protocol governance system is composed of various decentralized autonomous organizations (DAOs) that oversee different parts of the protocol’s operations and developments. At the core of this governance structure are the THALES token stakers, that are responsible for overseeing and electing the DAO members themselves by voting on the different elections. Each of these organizations has its own set of responsibilities and all of them together share the same mission of enabling the most optimal, efficient, and censorship-resistant way for the Thales community to be the main driving force of the project.
Tokenomics
$THALES is a fixed-supply standard ERC-20 token. Its only purpose is to govern the Thales protocol, granting voting power for DAO elections to those who stake it. Any further utility of the token that could be relevant to the protocol can also be decided and voted on by the ThalesDAO governance structures, more specifically the Thales Council.
Previous Funding
Thales has raised $2.5 million in a strategic investment round led by Framework Ventures and Apollo Capital.
