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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!
The origins of Community Governance
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)
Thales worked with the community to craft a series of TIPs to distribute 900,000 OP tokens:
- 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.
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.