Overtime Markets is a product built on top of the Thales core infrastructure. The foundation market contracts used for Thales marketplace and the ThalesAMM contract were found to be a perfect fit to develop an instance of the contracts to revolve around Sports markets. With amazing relationship with Chainlink and their willingness to leverage Overtime to showcase their sports data capabilities, this is how Overtime was born. It is a separate product built using the Thales core infrastructure.
Overtime was not included into Thales OP token allocation distribution from Phase 0 because the product did not exist at that time. Phase 0 allocation was mostly designated towards THALES/WETH liquidity and thalesmarket.io product usage. We are considering the OP token incentives to be highly successful in what they were designated towards. Down below you can see some relevant metrics of Thales Marketplace growth since the start of OP incentives.
- Monthly Trading Volume increased from ~$350k per month to ~$2.5M trading volume per month
- Daily Unique Traders increased from ~10 to ~50
- Daily Trades Executed increased from ~30 to ~200
- Discord Members increased from ~2,000 to ~5,500
- THALES token on-chain liquidity increased 5x and remained stable at around $2m of effective liquidity on the incentivized pool at around a stable ~100% APY.
There are already clear positive results around the effects of the OP token towards growth, marketing and exposure, even though most of Thales Phase 0 allocation still has ~3 months of distribution period that will remain true to the original Phase 0 proposal.
@OPUser shared his findings around Thales Phase 0 distribution results here: Goverance Fund Accountability - An overview
Regarding the question around Builders on Thales. The 90,000 OP tokens allocated towards community builders on top of Thales remain unallocated in the Thales treasury since there was not much initiatives yet. These will remain reserved as future incentives for community builders willing to work on structured products for Thales and/or alternate front-ends and similar initiatives.
Even though Overtime product was not included in Phase 0, we subsequently took around 15,000 OP tokens from the Protocol Usage bucket of Thales and distributed them as various incentives towards Overtime product users for the past 2 months. These small experimental incentives showed to be very effective towards bringing new attention to the product.
