Thales PriceTHALES

What is Thales (THALES)?

Thales (THALES) is an Ethereum protocol designed to enable the creation of novel on-chain, permissionless, and non-custodial Parimutuel Markets. The project positions itself as infrastructure for community-driven prediction and event markets, operating entirely on-chain without centralized custody. THALES is the protocol's native standard ERC-20 token and serves as the governance token of the Thales Council, allowing holders to participate in the direction of the protocol. Thales (THALES) has since rebranded to Overtime (OVER); this page describes the legacy THALES token. In terms of supply, the total maximum supply is capped at 100,000,000 THALES, with a total supply of approximately 99.41 million and a circulating supply of 64.19 million THALES, representing roughly 64.19% of the total. The protocol applies a fixed 2% fee, and a Tokenomics V2 update was published to mark what was described as a new era for the THALES token.

Key Specifications & Tokenomics

• Name: Thales
• Symbol / Ticker: THALES
• CMC ID: 11973
• Official Website: thales.io
• Whitepaper: https://thalesmarket.io/article/whitepaper
• Source Code: https://github.com/thales-markets
• Documentation: docs.thalesmarket.io
• Blockchain / Standard: Ethereum protocol; ERC-20
• Token Type: ERC-20 governance token
• Category: On-chain Parimutuel Markets / Governance
• Total Maximum Supply: 100,000,000 THALES
• Total Supply: 99.41M THALES
• Circulating Supply: 64.19M THALES (self-reported, ~64.19% of total supply)
• Decimals: 18
• Fee Structure: Fixed 2% fee
• Allocation: An initial plan allocated 35% of total supply to SNX stakers, later amended through Thales Improvement Proposals (TIPs).
• Governance: Thales Council
• CMC Listing Date: 2021-09-20
• Contract Address (Ethereum): 0x8947da500eb47f82df21143d0c01a29862a8c3c5
• Additional deployments: Arbitrum (0xe85b662fe97e8562f4099d8a1d5a92d4b453bf30) and Optimism (0x217d47011b23bb961eb6d93ca9945b7501a5bb11)
• Community: discord.gg/thales; Twitter: twitter.com/thalesmarket; Announcements: thalesmarket.medium.com

Who created Thales?

Thales was listed on CoinMarketCap on 2021-09-20 and maintains ties to the Synthetix ecosystem through its token distribution. An initial plan allocated 35% of total supply to SNX stakers, later amended through Thales Improvement Proposals (TIPs). Governance of the protocol is carried out through the Thales Council, meaning the project is community-directed rather than presented around a single public figurehead. The protocol's whitepaper and source code are publicly available, supporting transparency at the technical level even where personal team disclosures are not prominent.

How does Thales work?

Thales operates as an Ethereum protocol that allows anyone to create on-chain, permissionless, and non-custodial Parimutuel Markets. In a parimutuel market, all participants' contributions are pooled together, and payouts are distributed proportionally among the winning side after the event resolves, rather than being set against a fixed counterparty. Because the markets are permissionless, new markets can be created without gatekeepers, and because they are non-custodial, funds are handled by smart contracts rather than a centralized operator. Markets use sUSD, a stablecoin, as collateral, and integrate Chainlink data feeds to provide reliable, tamper-proof information for market operations. The protocol applies a fixed 2% fee on activity, which provides a predictable cost structure. THALES, as a standard ERC-20 token on Ethereum, is used by the community to govern the Thales Council, giving holders a voice in the protocol's development and parameters.

What makes Thales unique and valuable?

Thales differentiates itself through its focus on Parimutuel Markets rather than order-book or automated market maker designs. This structure is well suited to event-based and prediction-style markets where liquidity is pooled and winners share the total pool. The protocol's permissionless and non-custodial design reduces reliance on centralized intermediaries, aligning with core decentralization values in the Ethereum ecosystem. Its fixed 2% fee offers transparency and predictability for users and market creators. The parimutuel primitive serves as a building block for further on-chain initiatives, including AMM-based positional markets and gamified experiences. Additionally, the connection to the Synthetix ecosystem through its token distribution gives THALES a defined community base. The THALES token's role as the governance asset of the Thales Council means its value is tied to the protocol's ability to attract market creation, participation, and sustained governance engagement.

What is Thales used for?

THALES functions primarily as the governance token of the Thales Council, allowing holders to participate in decisions about the protocol. THALES holders can stake the token to vote on representatives to the Thales Council. It is a standard ERC-20 token on Ethereum, which makes it compatible with a wide range of wallets, decentralized applications, and on-chain tools. Beyond governance, THALES underpins the economic alignment of the protocol's community, including Synthetix stakers who were part of the initial distribution plan. The protocol itself is used to create and participate in on-chain, permissionless, non-custodial Parimutuel Markets, with a fixed 2% fee applied to activity. THALES can be watched, bought, or sold on supported platforms, and may be available for swapping through decentralized on-chain products.

How Is the Thales ecosystem developing?

The Thales ecosystem centers on the Thales Council, the community governance body that uses THALES as its governance token, and on the Parimutuel Markets that the protocol enables. Protocol changes are introduced through Thales Improvement Proposals (TIPs), which have previously amended the token distribution plan. The initial allocation to SNX stakers reflects an ongoing relationship with the Synthetix ecosystem, which helps anchor the project within a broader DeFi community. A Tokenomics V2 update was published and framed as a new era for the THALES token, signaling continued iteration on the token's economic design. Holders: 20.33K (CoinMarketCap). The protocol's fixed 2% fee and permissionless market creation provide a foundation for further ecosystem growth as more markets are deployed.

How to mine Thales?

THALES is not a mined cryptocurrency. It is a standard ERC-20 token on the Ethereum protocol, and there is no proof-of-work mining process associated with it. Instead, THALES is distributed and used within the Thales Council ecosystem, with an initial plan that allocated 35% of total supply to SNX stakers, later amended through Thales Improvement Proposals (TIPs). Participation in the ecosystem is therefore centered on governance and on interacting with the protocol's Parimutuel Markets rather than on mining hardware or hash-based rewards. Users who wish to acquire THALES typically do so through supported platforms where the token can be bought, sold, or swapped, and they can then take part in Thales Council governance.

How to keep your Thales Coin safe?

Because THALES is a standard ERC-20 token on Ethereum, it can be stored in any wallet that supports ERC-20 assets, including hardware wallets and reputable software wallets. For stronger protection, a hardware wallet keeps private keys offline and reduces exposure to online threats. Users should always safeguard their seed phrase, never share it with anyone, and verify that any wallet or platform they use is legitimate before connecting. Since the Thales protocol is non-custodial, users interacting with its Parimutuel Markets are responsible for their own key management. It is also wise to double-check token contract details and to be cautious of phishing attempts that impersonate the project, especially given the existence of unrelated entities that share the Thales name. CoinMarketCap displays a CertiK rating of 3.3 (out of 5) and an audits section for THALES.

Risks and uncertainties

THALES is subject to market price volatility, and its value can fluctuate significantly. Regulatory policies for crypto assets vary by jurisdiction and may change, which could affect access to or use of the token. Technical risks include smart contract vulnerabilities and the possibility of exploits in the protocol or the wallets and tools used to interact with it. These factors should be considered alongside the protocol's design and governance.