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Deep Dive into the Decentralized Binary Options of Thales Dapp
Thales has launched its MVP on Ethereum Mainnet on July 28th 2021. Notably, Thales was started as a project from the Synthetix community and is then expanded to develop a re-imagined trading model for binary options.
Let's understand the on-chain Binary Options.
In simple words, binary options are actually the contracts that have two outcomes, and the investors speculate on one of those outcomes. It is like a simple yes or no trade where yes means that you agree with the statement and no means that you disagree with it. Upon choosing the correct option, the investor will get a payout, and if the option is incorrect, the investor will not get anything.
Can on-chain binary options make you rich?
Binary options provide the investors with the fixed payouts. If you have started trading the binary options, you might find it advantageous because of its impressive returns. For instance, you can even double up your investment within few minutes.
Secondly, they quickly expire, which can allow the traders to pursue additional trades. You can still use your capital to make more money because it is held, hostage.
To sum up, it can rightly be said that it indeed is possible to make money quickly with binary options trading, and a lot of people are already doing it every day. But, you need to understand the risks as well to make consistent profits and to get rich.
What does Thales DApp have to offer?
Thales allows you to choose among 60 different assets for creating mint binary options tokens and trade them on Thales decentralized limit order books. These assets include equities, commodities and cryptocurrencies.
It is integrated with Chainlink to help access the new asset prices highly secure and reliable.
The smart contracts of Thales are well-suited for supporting the sports market. Keeping this in mind, it has released its MVP to Olympics sports markets in 2021 to make everyone a part of the macro-event tradition.
Thales aims to build a non-custodial, uncensorable and permissionless protocol to uphold the essence of Decentralized Finance. The primary concern for any DeFi project is its security, and Thales DApp can assure you of the safety because it never accesses the user funds locked in the pools.
Also, keep in mind that binary options will either get you the payout or your investment is lost. It would be best to be careful with Binary options trading because there is nothing in between total payout or nothing at all. It's more or less gambling. So, it indeed can make you rich within minutes if you are lucky enough. But, we suggest you be careful with Binary options trading.