Introduction

Thales is an Ethereum protocol currently deployed on Optimism that allows the creation of peer-to-peer parimutuel markets. A parimutuel market is a market where the collateral is placed in a single shared pool, and the final payout to the winning participants is not determined until a market-settling event has occurred. Thales protocol is the building block of novel on-chain initiatives: A platform for AMM-based positional markets, an exotic markets platform, and a survival winner(s)-take-all positioning on-chain game played in rounds called Thales Royale. The set of smart contracts composing Thales leverages uncensorable sUSD as collateral, an immutable source of truth for market settlement from Chainlink data feeds, and all the advantages (speed, costs, and security) of a rollup-centric network like Optimism.

Methodology

For extracting data related to the overtime market, I usedoptimism.core.fact_event_logstable, and below, I will mention the used contracts.

1. CONTRACT_ADDRESS='0x170a5714112daeff20e798b6e92e25b86ea603c1': This contract is related to overtime market and I used it for calculating the bet amount.
2. ORIGIN_FROM_ADDRESS='0x646f0733614cfcaffc72f6147228c72bc782d452',ORIGIN_TO_ADDRESS='0x2b91c14ce9aa828ed124d12541452a017d8a2148': In overtime market, each bet is related to each sport, and for finding sports tags I used this two contracts.
3. TOPICS='0x889e2060e46779287c2fcbf489c195ef20f5b44a74e3dcb58d491ae073c1370f': For finding tags correctly this topics is essential.

Overview

In this analysis, the below procedure was conducted:

1. Calculating the general metrics such as total volume, Number of bets, and the number of bettors on Overtime Markets over the past two weeks.
2. The top ten games received the most activity in total $sUSD volume and users in the last two weeks.
3. The distribution of USD volume of betting between sports in the last two weeks

Overtime Markets Metrics

In the last two weeks, 544 bettors bet 2370 times that, worth 251.5K $USD in Thales on optimism network.

The top games in terms of total $sUSD volume and users

The first bar chart below shows the top ten games on the overtime market in terms of total $sUSD bet on them—accordingly, the baseball game between Boston Red Sox Vs. New York Yankees with 18k $sUSD were ranked first. The MMA game between Leon Edwards Vs. Kamaru Usman with 14.9K $sUSD placed second, and the Baseball game between Philadelphia Phillies Vs. Miami Marlins, with 12.7K $sUSD, placed at the third rank.

The following bar chart shows the top ten games regarding the number of bettors, so two baseball games between Baltimore Orioles Vs. Boston Red Sox, with the contribution of 53 and 51 users, were the popular games among bettors. Also, the third rank belonged to the Soccer game between Manchester United Vs. Liverpool with 38 users.

How is $sUSD distributed between sports?

In the last two weeks, the following donut chart shows that baseball with 127K $sUSD allocated 50% of all bet volume to itself, and after that, soccer with 83K $sUSD (given 33% of bet volume) placed second, and MMA with 25K $sUSD (allocated 10%) placed at third.

In the last two weeks, I didn’t see a game related to basketball, but it is anticipated that basketball will acquire a significant portion of $sUSD volume in the overtime market.

The below bar chart shows the daily volume of $sUSD that users bet on the overtime market in the last two weeks. Based on the chart first week, the betting volume was rising, but in the second week, we saw a downtrend in the total inflow volume. Aug 14th with 70K $sUSD bet volume was the highest spike in this interval.