Overtime V2 public beta is LIVE
Since its launch in May 2022, Overtime Markets has redefined decentralized sportsbooks by allowing users to take their position fully onchain, globally accessible without restriction, with fully collateralized positions.
We’ve come a long way since our first game! Overtime has now grown a lot over the past two years and we have some numbers to boast about. We’re proud of the $76 million in volume, 20,000 users, $26 million in winning payouts, and 488,000 positions taken on our platform and couldn’t be here without all of you.
Today, we’re excited to announce that Overtime V2 is ready to be deployed on Optimism mainnet, packed with new groundbreaking onchain features and improvements.
You can try out the Overtime V2 Public Beta dApp now on: https://v2.overtimemarkets.xyz/
Live Markets
One of the most requested features is finally here. Onchain live markets are now a reality, adding the missing piece compared to traditional Web2 sportsbooks. Thanks to our data provider, OpticOdds, and a massively reworked contract architecture, live markets are now at your fingertips. Get ready to place your positions in real-time and experience the thrill like never before!
Expanded Market Offering
Overtime V2 brings more markets and more sports, significantly expanding our offerings. With enhanced scalability of the smart contracts powering Overtime, you can expect significantly more markets for individual games and more leagues and sports overall. Whether you’re into soccer, basketball, volleyball, or more, we’ve got you covered.
Improved Odds
In Overtime V1, odds become less favourable if one side is a clear-cut favourite, and most users pick it. This was cumbersome for popular picks and markets as the curve would increase the price of the popular pick. Well in V2, this is no longer the case. We’ve eliminated the skew impact, providing better odds for our users, making your experience more rewarding and on par with any centralised web2 sportsbook experience.
Redesigned UI
With the familiarity of the V1 design that you know and love, our new look and feel are built on your feedback. The redesigned UI makes it easier to navigate and find what you’re looking for, providing a more intuitive and enjoyable user experience.
Collateral Upgrade
In Overtime V2, USDC is introduced as the default collateral across all chains (Optimism, Base, and Arbitrum) for stability and broad acceptance, reducing volatility risks and providing a more reliable user experience. Users will still be able to take positions with other supported tokens such as USDT, DAI, Bridged USDC, sUSD OP, ARB. Furthermore, in V2 we’re adding ETH as a native collateral option! This introduces an uncensorable, transparent trading aligned with Overtime’s decentralised ethos, enhancing security and trust. ETH is THE token behind the crypto landscape we are built on. With this addition, ETH is all you need to start your Overtime journey. Finally our last addition as a collateral is the THALES token. THALES is the governance token of the Thales Protocol which deployed the smart contract infrastructure that Overtime V1 and V2 uses. Users placing trades with THALES will get 1% of extra payouts for each game they have in their ticket.
For example, if a user has picked just a single game, he will have just the extra 1% increase in the potential payout. Likewise, if the user has created a 10-leg parlay, for each of these games, he will get an extra 1%, so 10% in total. Let’s say the user has created a 10 game parlay for 50 USD using THALES, with a total quote of 20. His potential payout would be a 1000 USD before, but because he is using THALES he will be getting 1100 USD if he is correct.
Additionally, when placing a trade with THALES, the safebox & performance fees are immediately burned forever, reducing the total supply of THALES.
Liquidity Pool
New tokens as collateral also means new Liquidity pools. First off, we have merged both the single & parlay pools into one. In the past, users had to choose between the Parlay or single AMM liquidity pool, this time around you won’t have to wonder which one is the most profitable. Next up, users will be able to deposit into three different pools per chain based on the new native collateral. These pools are USDC, ETH, and THALES.
Improved Vouchers System
The new voucher system in V2 offers improved abilities for user to leverage our free position mechanism whenever won in our marketing campaigns. These vouchers are designed to provide greater flexibility and value, enhancing the overall user experience on Overtime Markets. The new vouchers will no longer be implemented as NFTs, but as a proxy contract that stores voucher balances. This allows us to use multiple collaterals for voucher distribution.
Euro 2024 & Copa America Rewards
We’re thrilled to launch Overtime V2 with OP and THALES rewards!
Euro 2024 : June 14th to July 14th
Copa America : June 20th to July 14th
Euro 2024 and Copa America will run concurrently, offering traders the chance to compete for a 20,000 OP incentive pool. Users will be competing based on pro-rata volume. That’s not all! To amplify the excitement of live markets, the top 20 PnL users in live markets will each receive a 100 THALES voucher.
We’re excited for you to experience Overtime V2 and all the enhanced features it brings. Your feedback has been instrumental in shaping this update, and we can’t wait for you to try it out. Share your thoughts and suggestions with us to help make Overtime even better.
Start your Overtime journey now: https://overtimemarkets.xyz/
If you have any questions or need further assistance, please don’t hesitate to reach out to our support team. In the meantime, start your Overtime v2 journey now: https://v2.overtimemarkets.xyz/
About Overtime
Overtime is the first fully decentralized sports platform. Overtime allows users to trade seamlessly with our sports AMM so there is always a position to be taken on your favorite games. Born out of Thales protocol, Overtime keeps pushing the mission of gamifying DeFi one step further and helping close the gap with the inclusion of real-life sport events.
Website: https://overtimemarkets.xyz/#/
Discord: https://discord.gg/thales
Twitter: https://twitter.com/OvertimeMarkets
Documentation: https://docs.overtimemarkets.xyz
