You've reached the official Thales documentation. This guide contains all the resources you'll need to understand the Thales protocol.
Thales Protocol provides an oracle-based automated liquidity solution that is used to create various types of on-chain Positional Markets limited only by the amount of data that is available to the blockchain.
The simple but powerful smart contracts that serve as the foundation of Thales Market allow you to participate in markets for different crypto assets, but this format is not limited to simple up/down positions. 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.
Every distinct market is a dedicated smart contract that uses an oracle to establish outcome conditions. Each of these market contracts mint positions in the form of ERC-20 Positional Tokens using USD as collateral. Traders can purchase these tokens for a fraction of a USD, and when the market resolves winning Positional Tokens are redeemable for one dollar while the losing Positional Tokens expire worthless. Thales' novel AMM architecture coordinates market-making with prices derived from live oracle data feeds while a market is in the trading phase, and at the time of maturity it resolves the market so traders can redeem their winning positions.