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Thales integrates Chainlink Data Feeds as it expands to Arbitrum

Thales integrates Chainlink Data Feeds as it expands to Arbitrum
Thales integrates Chainlink Data Feeds as it expands to Arbitrum

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Chainlink Data Feeds were officially integrated by yet another service — Thales. The platform and protocol, named after a famous Ancient Greek philosopher, are well-known for offering access to numerous positional markets featuring easy-to-understand derivatives. The project announced its expansion only hours ago on Twitter, noting that it reached and exceeded $7 million in volume and that it continues to provide simple, novel, secure markets.

Chainlink shared the news of the integration, noting that Price Feeds feature will help secure Thales’ advanced parimutuel markets.

With Thales’ expansion to Arbitrum, the project has made a major step in the right direction and set the stage for the future of its operation. Every milestone and major accomplishment in the past has led to where it is now, and it is nowhere near stopping.

So far, the platform has over $8.5 million in volume between Polygon and Optimism. It also noted that users seemingly love its service in environments that can offer fast transactions and low fees. With that in mind, Arbitrum was the logical next step for the project, which seeks to offer only the best for its ever-growing userbase and passionate communities. Still, the decision was made by the so-called Thales Council — the project’s decentralized governance body in charge of making all official decisions.

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Chainlink will be crucial for Thales’ trust-building

According to Thales’ announcement, the integration with Chainlink is what decided which tokens will be available, as there are two conditions — they must be supported by Chainlink’s Data Feeds, and they need to be popular enough among the traders Both conditions were quite sensible, and the project ended up supporting BTC, ETH, as well as DPX and MAGIC.

Users will be able to join the platform with no registration required, and they can use a single Web3 wallet as their passport to all novel on-chain derivatives and with multiple forms of collateral. For Arbitrum, specifically, that currently includes USDC and USDT.

Of course, the results of all settlements will be provided by Chainlink itself, which is the main reason behind this integration. Having integration with the industry-leading decentralized oracles network will bring greater trust but also transparency, and the message that Thales is sending by integrating it is that its services offer market results that users can trust.

Thales also noted that there will be no liquidations involved when users buy positional tokens, and that they can only lose what they risk on each market and no more. Users can sell back positional tokens to the AMM and exit their positions at any time up until 24h from the market target date, assuming there is liquidity in the market.  What this means is that there will be a possibility for profit-taking and early exits.

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