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Thales Vaults

​Thales Vaults are products that accepts user deposits and uses those deposits on automated trading strategies on the Thales Marketplace.
Vaults are currently available using sUSD
on Optimism
:optimism:
and USDC
:USDC:
on Arbitrum
.
The Thales vaults work by allowing anyone to deposit USD in a certain vault which is then utilized in cycles of 1-week trading rounds that execute specific trading strategies.
USD can be deposited by the user at any time, but it will only start getting utilized at the start of the subsequent trading round. A depositor can request a withdrawal of his share at any time, but his share will be unlocked and withdrawable only when the current trading round ends.
Thales Vaults can be found in the sidebar menu of the dapp, or by using this direct link: thalesmarket.io/vaults
Depositors can choose from different strategies with detailed descriptions of parameters such as utilization rate and maximum risk. Select a vault to view the specifics of that strategy and deposit USD to participate.

Vault Strategies

Strategies vary from targeting positions with odds above or below a certain threshold, or by including positions available at a certain discount.
  1. 1.
    ​Discounts vault: Buys positions that have more than 50% calculated probability and are available at a discount larger than 3%.
  2. 2.
    ​Degen Discount vault: Buys positions that are available for more than a 5% discount, without taking into account the probability of the position.
  3. 3.
    ​Safu Discount vault: Buys positions that have more than 75% calculated probability and are available at any discount (1% or higher).
Vaults are defined by trading strategy as well as the following variables:
  • Utilization rate
  • Price lower limit and upper limit
  • Max Skew impact
  • Max allocation on a single market
  • Minimum amount on a single trade and minimum deposit
  • Max total deposit and max users in the vault (Vault Caps)
Vault will be capped initially, with increases subject to community governance.
Currently Vault Caps on Optimism
:optimism:
are 100 users and 100,000 sUSD total.
On Arbitrum
vaults are capped at 100 users and 50,000 USDC total.

Main value propositions of Thales Vaults

  1. 1.
    Passive trading. There’s no need to withdraw and/or deposit for every round. If you keep your collateral inside a vault, it will automatically roll over (plus the winnings or minus the losses of the previous round) to the next round.
  2. 2.
    Vaults have lower Trading Fees (from 3% to 0.5%). Trader's benefit from TIP-105, which effectively gives more edge to Thales Vaults and their strategies, compared to a user manually executing the same trades.
  3. 3.
    The full amount deposited into the vaults (be it Overtime or Thales) by users counts toward the gamified staking “Protocol volume” bonus.