📜Grants and Proposals
Thales truly believes in the principles of DeFi: decentralization, transparency and community governance. We want to help develop push the Web3 ecosystem and develop lasting relationships with like-minded protocols and networks. Part of this involves participating in grants and incentive programs. This page will contain information on current grant applications and steps to support Thales. You can help shape the discourse directly with your input!
Current Grants
Thales has applied for a 500,000 ARB token grant from the Arbitrum Short-Term Incentives Program (STIP). Any distribution of these tokens will be used to encourage engagement with Thales on Arbitrum by providing trader's with incentives, fee rebates, and competitions. We'll also match this grant with another 200,000 THALES for those same programs.
Here's a quick breakdown of our proposal for the 500,000 ARB:
10,000 ARB per week for Direct Usage Incentives (global trading volume incentives and incentives for discount buyers)
20,000 ARB per week for Fee Rebates (giving protocol and event fees back to traders)
160,000 ARB for Focused Event Incentives (community competitions, leaderboards and more, across Thales and Overtime Markets)
You can keep an eye on our proposal at https://forum.arbitrum.foundation/t/thales-final-stip-round-1/16836/11.
If you hold ARB tokens you can vote now on the Snapshot Proposal: https://snapshot.org/#/arbitrumfoundation.eth/proposal/0xd7c38a5af10a30d35b7f63564969097019aeb59e70a48d4364739ef8594f8f6c
Past Grants and Proposals
Optimism's OP Token Distribution
When the Optimism protocol launched it's OP token, it included an OP token distribution program as part of its decentralized governance initiative.
Thales worked with the community to craft a series of TIPs to distribute 900,000 OP tokens:
TIP-53 proposed to distribute 135,000 OP tokens via weekly emissions for THALES staking rewards.
TIP-55 introduced OP rewards for liquidity providers, with 315,000 OP and 900,000 THALES tokens distributed across weekly rounds.
TIP-56 suggested the use of both OP and THALES tokens to incentivize traders to generate protocol volume by participating in UP and DOWN markets and ranged markets, with 11,000 OP and 20,000 THALES distributed each 14 day epoch for UP markets and another 11,000 OP and 20,000 THALES for DOWN markets, as well as 6,000 OP and 10,000 THALES for ranged markets.
This was adjusted for Round 7 in TIP-97 to 5,000 OP and 7,000 THALES for each of the following: In the money (ITM) markets, Out of the money (OTM) markets and Discounted Markets.
Of the 900,000 OP token grant, that left 250,000 OP for other growth-related initiatives that were developed by the community and approved by the Thales Council.
You can review Optimism's Reward Impact Analysis for more details on Thales' grant here, or a shortened version in this tweet.
Overtime also received 300,000 OP as part of Optimism's Governance Fund Grants Phase 1. You can review the proposal here.
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