Proposal: Whitelist THALES with 100K BNT Trading liquidity Limit

BancorDAO Whitelist Proposal

This proposal is expected to appear on Snapshot for voting on 2022-05-08T15:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.

TL;DR

  • Proposal to whitelist THALES
  • Proposed trading liquidity limit is 100,000 BNT.
  • There are no security concerns that would prohibit whitelist status.
  • There is no reason to doubt the legitimacy of the Thales protocol.
  • The benefit to Bancor is clear. Further integrations once THALES is whitelisted can be pursued as well.

THALES token address: 0x8947da500eb47f82df21143d0c01a29862a8c3c5

Project Website: https://thalesmarket.io/

DAO Controlled Liquidity

The THALES treasury DAO intends to immediately fill the trading limit if it is approved. This would ensure that the capital in the pool is backed by the DAO and therefore would remain staked regardless of market conditions. THALES is happy to pursue larger limits and seed more liquidity should BancorDAO approve it.

Token Security

THALES token does not have an elastic supply, or rebase mechanism.
It’s an out-of-the-box OpenZeppelin ERC20 token.

Total supply is 100m with the majority of the circulating supply being on Optimism either staked on in LP pools.

Holders

Token Liquidity

THALES liquidity is as of now mostly on Optimism chain DEX Screener

Thales want’s to establish deeper liquidity on mainnet and finds Bancor as a perfect partner to do so.

Project

Thales is an Ethereum protocol that allows the creation of peer-to-peer parimutuel markets that anyone can join. This building block is the foundation of novel on-chain initiatives, from a platform for AMM-based positional markets to immersive gamified experiences, and much more.

Tokenomics

On the technical side, THALES is a fixed-supply standard ERC-20 token on the Ethereum network. Its only purpose is to govern the Thales protocol , granting voting power for DAO elections to those who stake it. This voting power for stakers is shown on the governance site and it can currently be used to participate in Thales Council elections. 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.

Community and Communication

Thales discord is a place where everyone is welcome and questions are replied to within minutes Thales

Thales publishes all news via its twitter and medium accounts:

Thales also maintain a telegram group as of recent:

Thales code is fully open source under thales-markets · GitHub

Available Audits

Market and Trading Data

  • THALES price at the time of writing is $0.454767
  • All-time high: $3.75 (Sep 16th, 2021 )
  • All-time low: $ $0.420852 (Mar 07, 2022 )
  • Price 90 days ago: $1.25
  • 17,835,308 tokens in circulation
  • 100,000,000 maximum supply.
  • THALES is currently listed on centralized exchange MEXC and XT.com
  • The current market capitalization is $8,101,563
  • The most recent 24-hour is $68,875

Benefits for Bancor:

White listing THALES can benefit Bancor by bringing new traders, marketing the existence of the pool. The Bancor pool will be protocol owned liquidity and the only L1 access to the THALES token.

THALES is happy to grow the pool and make further proposals to increase the limit if BancorDAO is supportive.

1 Like

@Danijel, thanks for bringing this proposal to our DAO. I too would love to see a Thales pool on Bancor :muscle: and it’s great to hear that the THALES DAO is willing to fill this pool completely once it is whitelisted.

The THALES treasury DAO intends to immediately fill the trading limit if it is approved. This would ensure that the capital in the pool is backed by the DAO and therefore would remain staked regardless of market conditions. THALES is happy to pursue larger limits and seed more liquidity should BancorDAO approve it.

1 Like