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Providing Liquidity for the Sports AMM
Stakers of the THALES token are eligible to Provide Liquidity for the Sports AMM and gain exposure to the Sports AMM's performance.
User funds deposited in the Sports AMM will be used as collateral for all positions bought on the Overtime dapp. Liquidity Provisioning is available on both Optimism and Arbitrum.
Every THALES token staker will have a capped allowance on how much they can LP based on the amount of THALES token they are staking. The ratio between this allowance and amount of THALES staked will be controlled by a variable called:
This multiplier represents how much USD you are allowed to deposit into the AMM for each 1 THALES token staked.
Current
stakedThalesMultiplier value - 0.1This means the number of THALES you have staked divided by 10 is the number of USD you can provide in liquidity.
More THALES can always be staked to increase one's USD deposit allowance. You can follow this guide for steps to stake THALES on Optimism, and this one for staking THALES on Arbitrum.
You are not able to unstake your THALES while you are providing liquidity into the Sports AMM. If you wish to unstake your THALES you have to withdraw funds from the Sports AMM first.
The deposited USD will be used to collateralize the Sports AMM on a weekly round basis. A single game market can only belong to one round, which is defined based on the maturity date of the market (game end). When a round ends, the Sports AMM performance from all markets in that round is summed up, and allocated to all liquidity providers proportional to their share of the pool.
- Each LP-ing round lasts 7 days.
- User can Deposit at any time during any round. The deposited funds will be utilized as collateral in Sports AMM starting with the next round from time of Depositing.
- The minimum deposit is 10 USD
- The maximum deposit is 200,000 USD
- A maximum of 100 users can enter the pool at one time.
- The maximum amount of USD you can deposit is the number of your staked THALES divided by 10
- Funds roll over to next round automatically until a Withdrawal is signaled.
- User can signal a Withdrawal at any time during any round. The funds that are signaled for Withdrawal will be unlocked at the start of the next round from time of signaling.
You can only signal a Withdrawal of your entire deposit. Partial withdrawals are not available.
If the Sports AMM performance increases your deposits above your allowance limit, you will need to stake additional THALES to reach the new allowance to be able to withdraw your share.
If you signal a Withdrawal, your funds will still be exposed as collateral for the duration of the ongoing round and will only be removed as Sports AMM collateral when the round ends.
Providing liquidity exposes you to various risks including potential losses due to users winning in trading as well as smart contract security risks. Please make sure you understand these risks before depositing.
If you wish to start providing liquidity for the Sports AMM, make sure you have sufficient THALES staked so you can provide the desired amount of collateral to LP.
Connect your wallet to the Overtime dapp on the top right corner of the page.
Your
Max allowance of how much USD you can deposit is visible in the Total LP info card on the left of the page. Your allowance is calculated as following:
You can see your current and pending deposits and your Max Allowance in the "Your LP info" section
The time until the current round ends is listed on the left. You can use the GET THALES button to purchase THALES from Uniswap, and the STAKE THALES button to stake them.
You can view your current deposits from your Profile under the Vaults/LPs tab
To withdraw, you must have USD deposited in the current round.
I just deposited so I can't withdraw until my deposit is included in the current round, which starts in about 6 days and 10 hours
Connect your wallet to the Overtime dapp on the top right corner of the page.
For the REQUEST WITHDRAWAL button to be enabled, your deposited USD balance needs to be within the Max Allowance.
Step 3: Wait for current round to end to receive your funds directly to your wallet
Once you've successfully requested a withdraw, you'll see the estimated amount you'll receive at the end of the current round in yellow. The actual amount you'll receive will be calculated once the current round closes and is based on the PnL of the round.
You can not deposit when you have a pending withdrawal until the round has ended and you've received your deposit. Once the current rounds ends your total deposit will be automatically sent to you.