Thales is an Ethereum protocol that allows the creation of novel on-chain, permissionless, and non-custodial Parimutuel Markets. Thales has successfully been deployed on Optimism, Polygon, and BSC, and we’re excited to see the protocol expand to Arbitrum too, with $THALES being bridged after a successful governance proposal.
By welcoming Thales to the Round Table, Camelot is committed to supporting deep and sustainable liquidity for $THALES on Arbitrum. After a successful governance proposal, the Thales DAO voted to seed $THALES liquidity on Camelot and match incentives through our Nitro pool structure.
Farming rewards in the form of $GRAIL and $THALES will go live at 6pm UTC today, with the team seeding initial liquidity beforehand too. Stay tuned for further announcements.
A partnership to support innovation on Arbitrum
Camelot is a custom-built protocol that aims to become the native Arbitrum DEX. By building multiple novel features from the ground up, Camelot enables higher capital efficiency and attempts to bring the real-yield approach to a DEX.
Camelot is designed to move away from the standard short-term yield farm model to prioritize long-term and sticky liquidity. Therefore, we’re excited to build deep and sustainable liquidity for Thales through our custom features, such as Nitro pools, dynamic fees, and spNFTS. Through this partnership, Thales will be seeding the initial pool with protocol-owned liquidity, with $GRAIL incentives being matched with $Thales rewards additionally. This means that users will be able to earn sustainable dual liquidity mining rewards on their THALES/ETH positions. Thales are building novel DeFi primitives that allow for further innovation in the ecosystem, and we’re therefore excited to support collaboration on Arbitrum.
Thales is a leading player in the parimutuel market space, and we’re excited to see the utility and value they bring to the ecosystem. It is a privilege to support them on Arbitrum by welcoming them to the Round Table, and we’re committed to a long-term relationship that provides them with a bespoke service.
The Round Table comprises the key Arbitrum builders, and we are excited that this partnership will further align the ecosystem with collaborating, innovating, and building.
Thales Protocol provides an oracle based automated liquidity solution for various types of on-chain Positional Markets only limited by amount of available data on-chain around which the markets can be created.
The simple but powerful smart contracts at the foundation of Thales Parimutuel Market allow you to participate in markets around different crypto asset prices, but that’s just the beginning! Thales protocol continues to innovate by developing more advanced trading products like Ranged Markets AMM, offering community based games like Thales Royale and leveraging on-chain sports data by developing the worlds first SportsAMM and ParlayAMM solution that powers the Overtime Markets product.
Thales’ AMM novel design for exclusive outcome Positional Markets can be explained as providing on-demand liquidity around a reference point. Unlike peer-to-peer solutions, Thales’ AMMs can support multiple markets with the same liquidity. The risk cap and skew impact variables allows the AMM to market make in units of risk rather than prices. This means that the AMM has theoretically unlimited capital efficiency, so long as the risk exposure of a pool remains within the risk cap. This, to date, has proved to be the only viable working solution for permissionless and on-chain liquidity and automated market making of exclusive outcome Positional Markets such as e.g. Sports Markets.
Custom-built Liquidity Infrastructure
Camelot’s vision is to build innovative infrastructure that supports other Arbitrum builders through unique custom features:
- Unique AMM implementation that supports volatile & stable assets with dynamic fees (custom fees per pool, as well as per buy or sell direction)
- A custom NFT wrapper for staked positions that allows LPs to be reused for further capital efficiency gains
- Nitro pools allow protocols to incentivize liquidity based on custom requirements permissionlessly
- Innovative escrowed tokenomics that enable a more sustainable protocol that can capture real yield for holders
Camelot will leverage all its unique features to ensure that liquidity is deep and adaptable — tailored to what is most effective for $Thales liquidity. For example, Nitro pools will allow Thales to incentivize liquidity in a custom way, such as by only rewarding LPs that lock for a certain time and deposit over a certain amount.
In addition, we could set custom fees for Thales pools or add even further custom requirements to Nitro pools. This high level of control will allow us to support the Thales DAO in building an efficient rewards structure for their token liquidity. Therefore, we can enable highly efficient returns on Thales liquidity while bootstrapping critical infrastructure that benefits the entire ecosystem.
Most importantly, by welcoming Thales to the Round Table and building deep liquidity for their token, we hope to foster further innovation within the Arbitrum ecosystem. For example, deeper liquidity for Thales could open up new opportunities for use in other DeFi primitives.
The quest for $GRAIL
The Camelot Castle has quickly become the natural home for Arbitrum native protocols, and we’re excited to be supporting so many builders.
In just over three months, Camelot now has over $82m TVL, with a current daily trading volume of $31m. The Round Table has expanded significantly, with Vela, Justbet, Factor, Perpy, Plutus, and many more joining the ranks. In the coming weeks, we’re excited to host the exclusive launch of some of the most promising Arbitrum protocols.
JustBet’s public sale will commence next week, with several others posted for March and April onwards too. Nitro Cartel, Factor DAO, and Dsquared liquidity all recently went live, and we’re excited to be the natural home for many native protocols.
We’re proud to be supporting the entire Arbitrum ecosystem, and we thank our Knights for their loyal support.