# Thales - The Parimutuel Market project that loved by people.

By [nanobro](https://paragraph.com/@nanobro) · 2023-05-11

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✅Giving away $thales and $OP coins every week

Thales is not a typical vanilla option, but a Parimutuel.

It's kind of betting, but it's also a great risk management tool.

Open a position with market prices ranging from $0 to $1.

If you choose the correct direction, you get ~$1. If you're wrong, you get 0.

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![](https://storage.googleapis.com/papyrus_images/c9972fd673fcce5260884051c810923c6ebda3be9963d0fe85f48e0d7c7fd6a6.png)

The rewards are shared between

1.  profitable position or ITM (in-the-money)
    
2.  losing position or OTM (out-of-the-money).
    

If it's ITM, we'll get a bonus in tokens. But if it's a loss (OTM), consider it a consolation prize that doesn't hurt.

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Let’s get start
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The website looks quite extensive.

For beginners, focus on the top section, which shows positions currently on sale at a discount from their true value.

It's easier to read as well.

Get familiar with the platform and then try exploring the tables at the bottom.

![](https://storage.googleapis.com/papyrus_images/1f12107d8e84254e297f85fd1aa5db0dcd7ca4556ce7ece30862e74b5cfdfefd.png)

Market page.

Bet on whether the price will go "UP" or "DOWN".

You will see the strike price = the price at which the option can be exercised. Position price refers to the price per option. Maturity date is the date when the option can be exercised and the expiration date .

For example, BTC UP: if on May 12th, the BTC price > $28,001, we will get ~$1 per position.

[https://thalesmarket.io/markets?referrerId=nanobro](https://thalesmarket.io/markets?referrerId=nanobro)

![](https://storage.googleapis.com/papyrus_images/4cefa829841d88a9e5c450493e08e95da0f4332406394feae91901572c7827e8.png)

↔️ Range market This one lets you choose between "in" or "out."

For example, in the picture, if we buy 5 "BTC out" using 0.19x5 = $0.95:

✅ If the BTC price is $24,999, we win and get ~$5.

❌ If the BTC price is $25,001, we lose.

[https://thalesmarket.io/ranged-markets?referrerId=nanobro](https://thalesmarket.io/ranged-markets?referrerId=nanobro)

![](https://storage.googleapis.com/papyrus_images/f95df15516c0782cf2c1bfce4626b59811a9be1d61edea3f51b928f537d7646e.png)

Anyone who trades can check the rewards at: [https://thalesmarket.io/op-rewards](https://thalesmarket.io/op-rewards)

It updates in real-time. Here, trading $10 yielded more than $20.

Tha's huge!

\*However, as more people join the trading, we may see OP + thales rewards decrease.

![](https://storage.googleapis.com/papyrus_images/acb8d4a64a26d96794658eea88240db762fafcfb537b4678199d920a59889de1.png)

Personally, I think that currently, it is more interesting than trading futures.

Because, in addition to the profits from trading, there are also profits from the $thales and $OP tokens.

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*Originally published on [nanobro](https://paragraph.com/@nanobro/thales-the-parimutuel-market-project-that-loved-by-people)*
