Willemstad, Curaçao, April 2, 2025, news through Chainwire
Overtime , a blockchain-based sportsbook platform, has seamlessly integrated its core parent protocol, Thales, under the Overtime umbrella. This strategic move creates a cohesive brand identity and coincides with the launch of the innovative native $OVER token. Alongside this development, a new primary domain has been adopted, and the implementation of full Account Abstraction enhances the platform’s user interactions.
After more than four years of groundwork, Overtime stands as a comprehensive onchain sportsbook alternative, paralleling the features of conventional offchain services. Developed on Ethereum, it accentuates openness, security, and the unalterable nature of its operations. The history of Overtime’s performance includes:
- Over $200 million in volumes
- Support for over 100 sports and leagues
- 50,000 active users
- More than 10,000 unique betting markets
Get connected to the revamped Overtime domain at this link: https://www.overtime.io/
An Innovative Option for Sports Betting Fans
Overtime redefines conventional sports betting by offering a completely decentralized and open sportsbook platform. With Overtime, users face no hurdles like restrictive betting caps, random bans, or unpaid returns; they simply connect and start using it effortlessly.
Emerging organically, Overtime has fueled the expansion of Thales DAO. The community acknowledged this growth by supporting (via Thales Improvement Proposal 238) the comprehensive merging of Thales DAO into the Overtime brand.
Advanced Onchain User Experience with Complete Account Abstraction
As part of its advancements, Overtime introduces Overtime Accounts —a smart onchain account that simplifies wallet management and EVM network complexities.
With Overtime Accounts, users benefit from Particle Network for straightforward wallet creation via Social Logins and Biconomy’s SDK for managing smart-account functionalities, facilitating smooth transactions using its Paymaster, Bundler, and Session Keys system.
Once an Overtime Account is set up, users can allocate supported collateral to their specified address and interact with Overtime’s onchain sportsbook platform. Offerings include parlays, system bets, same-game parlays (SGPs), futures, and live betting. The account abstraction model enables transaction processing without manual confirmations or ETH for gas fees.
The design of Overtime’s user interface reduces blockchain-related hurdles, enabling users to enjoy sportsbook features without needing technical know-how of blockchain technologies. The interface offers a user-friendly experience akin to regular web applications while retaining Ethereum’s transparency and self-custody benefits.
A new Overtime UX is available here: https://www.overtimemarkets.xyz/
The new Overtime DAO token: $OVER
The introduction of the $OVER token comes with a revised total supply of 69.42 million, diverting from the initial 100 million for the THALES token. To facilitate the switch to $OVER, 30.58M THALES tokens will be burned. THALES token owners can exchange their $THALES for $OVER at a 1:1 ratio on the new overtime.io domain. This aligns with sustainable tokenomics focused on fostering the entire growth around the $OVER token.
The role of the new $OVER token includes several key functionalities:
- $OVER as Betting Foundation: Users placing bets with $OVER token gain better odds (2% over base odds) in comparison to other collaterals. This encourages $OVER token use and aligns token owners with active platform users.
- Token Buyback and Elimination: All Overtime fees contribute directly to purchasing $OVER tokens, directing the growth towards supporting the token. Burning buybacks reinforces the deflationary nature of the token.
- Governance Influence: Owning $OVER tokens provides voting influence within Overtime’s decentralized governance.
Using Chainlink’s CCT token standard, $OVER allows efficient and secure cross-network bridging through Chainlink’s CCIP. The token will be active on Optimism, Arbitrum, and Base, with liquidity on leading decentralized exchanges such as Uniswap, Velodrome, and Aerodrome.
How Overtime works
Overtime’s groundbreaking innovations showcase its pioneering stature:
- Bringing Onchain Parlays, System Bets, and SGPs to Reality: Leveraging cutting-edge smart contract technology, Overtime offers sophisticated sportsbook functionalities onchain.
- Incorporating Live Betting: Equipped with a Merkle Tree-based structural foundation and robust Chainlink oracle infrastructure, Overtime has successfully introduced Live Betting onchain without encountering frontrunning or harmful flows.
- Open Liquidity Provisioning: Anyone can participate in Overtime’s Liquidity Pools by depositing USDC, ETH, and BTC collateral to be part of platform performance and act as a counterparty to traders.
- Onchain Free Bets Platform: Users can convert their tokens into Overtime Free Bets, creating a modern tool for rewards and user onboarding.
A global movement
Overtime is leading a blockchain revolution, transforming a traditional sector by adopting onchain strategies. It operates as a fair, unrestricted, and universally reachable powerhouse, naturally set to surpass all legacy offchain systems.
Diverging from typical sportsbooks that may impose performance-based restrictions, Overtime utilizes a fully transparent onchain structure. Its design ensures engagement is driven by smart contracts, eliminating specific user restrictions. Participation hinges purely on the users' interactions with the liquidity smart contracts.
Thus far, Overtime’s digital incentives, rewards, and competition earnings have reached several million dollars. Its promotional efforts and airdrops are open to users meeting eligibility and regional criteria.
About Overtime
Overtime serves as a completely onchain sportsbook designed for easy access, allowing users to join via social profiles or EVM-compatible wallets. It supports various cryptocurrencies and incorporates fiat entry points through credit card transactions. Overtime maintains core functionalities of traditional sportsbooks, all within a decentralized framework. The protocol doesn’t enforce user bans or tailored restrictions, allowing open betting and withdrawals. Across each season, users can receive various incentives such as crypto airdrops, free bet credits, and more. Participants can also opt to contribute to the platform’s liquidity pool, effectively participating as liquidity providers.
Contact
Overtime Info
info@overtime.io
Disclaimer: This Press Release is issued by an external party responsible for the content. Always perform your own due diligence before acting based on the material presented.
