Thales Implements Token Pledge Service in Arbitrum under Synthetix Ecological Option Agreement
It is reported that Thales under the Synthetix ecological option agreement has deployed token pledge service in Arbitrum. At present, Thales supports the main …
It is reported that Thales under the Synthetix ecological option agreement has deployed token pledge service in Arbitrum. At present, Thales supports the main network of Ethereum, Optimism and Arbitrum. Among them, the basic reward is 20000THALES, which is distributed to all pledgers of weekly epoch on the Arbitrum chain in proportion, and the Bonus reward is 10000THALES, which is distributed to users of products built on Arbitrum in proportion. （Medium）
Thales has deployed token pledge service in Arbitrum
Interpret the above information:
Thales, a decentralized platform that lets users create and trade binary options, has reportedly deployed its token pledge service in the Arbitrum network under the Synthetix ecological option agreement. The platform currently supports the main networks of Ethereum, Optimism, and Arbitrum, and offers weekly rewards to pledgers in proportion to their contributions.
Under the agreement, users can pledge their THALES tokens to help secure the Synthetix ecosystem and earn rewards in return. The basic reward for pledgers on the Arbitrum chain is 20,000 THALES tokens, which are distributed weekly in proportion to the amount of tokens staked. Additionally, users of products built on the Arbitrum network can earn a bonus reward of 10,000 THALES tokens, also distributed in proportion to their stake.
The Synthetix ecosystem is a decentralized protocol that allows users to create synthetic assets, such as commodities, stocks, and cryptocurrencies, which can be traded on any exchange without holding the underlying asset. The ecosystem uses the Synthetix token (SNX) as collateral to issue synthetic assets, and its stability depends on the participation of a large number of SNX holders.
Thales’ token pledge service aims to strengthen the Synthetix ecosystem by encouraging users to stake their THALES tokens, which can be used to trade binary options on the platform. By pledging their tokens, users not only earn rewards, but also help secure the network and maintain its stability.
Arbitrum is a Layer 2 scaling solution for Ethereum that allows for faster and cheaper transactions by processing them off-chain and settling them on the Ethereum mainnet. By supporting the Optimistic Rollup technology, Arbitrum provides high scalability while maintaining the security and decentralization of the Ethereum network.
In summary, Thales’ implementation of token pledge service in Arbitrum under the Synthetix ecological option agreement is a significant step towards strengthening the Synthetix ecosystem and promoting the adoption of decentralized finance (DeFi) solutions. With the integration of Arbitrum, Thales expands its reach and incentivizes users to participate in a high-performance, low-cost network that is built on top of the Ethereum blockchain.
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