Thales
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FAQs
Frequently asked questions about Thales.

Who is eligible for the 35% token distribution?

All synthetix stakers will be included. This includes L2 and xsnx. Total supply will be 100,000,000.

What about yearn vaults?

Yearn vault is a staker. However, we are not fond of the dumping strategy, so we hope to instead be able to capture individual vault users and include them in the snapshot script when we work on it.

When will the snapshot be taken?

When we are ready to launch the token we will distribute the 15% allocated to retroactive users on a pro rata basis considering a history of SNX staking. More details are to be agreed with sDAO. It's important to note that the retroactive tokens will be linearly unlocking over a period of 12 months.

How will the other 20% be distributed?

After the retroactive allocation, a weekly distribution will commence based on Synthetix staking snapshots. 20,000,000 will be distributed over a period of 12 months.

When will the token be launched?

We believe in delivering a product first. Once the product is live, preparations for token distribution will begin.

What is the token utility?

Thales is a governance token and all other use cases for the token can only be decided by community governance.

Will the platform be on L2?

Yes, we expect to be on L2 not long after the L1 MVP release. Specifically, Thales is committed to rolling out on Optimism where the Synthetix debt pool will live. Thales contracts take sUSD as inputs to mint sLONG and sSHORT options tokens.

What kind of binary options will be supported?

Speculating on strike price for any asset supported by chainlink will be part of the MVP. We will also rollout decentralized custom options as soon as possible, e.g. will flippening take place in 2021?

When will the MVP launch?

We are hopeful for an early summer release 2021 (July-August) but we definitely want to make sure we do all our due dilligences testing and with auditors.

Which currency will be used on Thales platform?

Synthetic USD, or sUSD, is the only currency to be supported on Thales platform for the time being.
Last modified 2mo ago