- Thales integrates with Chainlink Automation on Arbitrum and Optimism platforms.
- The integration ensures Thales stakers can automatically claim weekly rewards.
In a tweet shared by Chainlink, they announced that “@thalesmarket has integrated #Chainlink Automation on @Arbitrum and @optimismFND,
Understand how Automation helps enable Thales stakers to automatically claim weekly rewards.https://t.co/9dImQy1DjR
— Chainlink (@chainlink) October 11, 2023
According to a subsequent detailed report on Thales Market Medium, Thales, an avant-garde protocol propelling on-chain, parimutuel markets, has activated this integration on both the Arbitrum and Optimism mainnets. The primary objective? To refine the claimOnBehalf method, ensuring it’s both secure and cost-effective. The result? Stakers no longer need to be on edge about missing their weekly rewards due to manual claiming oversights.
Why Chainlink Automation?
The decision to lean into Chainlink’s Automation service isn’t arbitrary. Recognized as the premier Web3 automation solution, a remarkable feature of Chainlink is the Automation Network. This network is spearheaded by the same cadre of seasoned and proven trustworthy node operators responsible for managing trillions in Web3, even during peak network activity and significant market fluctuations. Thanks to Chainlink’s sturdy infrastructure, every rewards claim is guaranteed punctuality and trustworthiness, further solidifying user trust in its impeccable performance.
Delving into Thales and Its Features
At its core, Thales serves as an automated liquidity conduit, pivotal for orchestrating diverse on-chain, parimutuel markets. Users are privy to benefits such as up/down positions and a suite of advanced products, including the Ranged Markets AMM. Before this integration, the weekly ritual for stakers was manual claims of their rewards, under the constant threat of forfeiture. Enter Chainlink Automation. With the claimOnBehalf method’s introduction, users can now shift to an automated rewards claiming system, simplifying the process.
Unpacking Chainlink Automation
More than a mere decentralized service, Chainlink Automation is meticulously crafted to shoulder tasks on behalf of smart contracts. Employing decentralized, ultra-dependable, and economically driven automation nodes, it ensures smart contracts are always primed for pivotal on-chain functions. Distinct features include:
- Consistency and Decentralization: Chainlink Automation is designed for rapid transaction recognition and confirmation, even amidst heavy network congestion.
- Economic and Temporal Efficiency: The platform eschews the need for in-house automation infrastructure, consequently economizing on developmental operations resources.
- Enhanced Scalability: It’s a gateway to faster scaling, dodging potential pitfalls linked to building reliable multi-chain automation infrastructure.
- Versatility: Automation makes previously unimaginable smart contract use cases accessible.
- User-friendly Design: The Chainlink Automation Job Scheduler’s no-code UI means even those not well-versed in code can schedule automation tasks with ease.
Pavle, the Lead Strategist at Thales, lauded the integration, saying, “Chainlink Automation is unparalleled in terms of reliability and performance. Now, our stakers can effortlessly claim their weekly rewards.”
A Glimpse into Chainlink and Thales
Chainlink, an undisputed titan in the Web3 services realm, oversees trillions in transactions across various sectors, including DeFi, gaming, NFTs, and insurance. As the decentralized oracle network’s vanguard, Chainlink empowers developers to produce feature-dense Web3 applications, offering unimpeded access to real-world data and off-chain computations across any blockchain.
In contrast, Thales, based on the Ethereum protocol, paves the way for creating peer-to-peer parimutuel markets accessible to all, catalyzing innovative on-chain endeavors from AMM-based positional markets to immersive gamified experiences.