[PRESS RELEASE – Willemstad, Curaçao, April 2nd, 2025]
Overtime, an innovative onchain sportsbook platform, has officially merged its operations under the Overtime brand, integrating its parent protocol Thales in a move to create a unified identity. This consolidation coincides with the launch of a new native token, $OVER, marking a significant milestone in Overtime’s trajectory. Additionally, the project has introduced a new primary domain and implemented full Account Abstraction to enhance user experience.
Boasting over four years of extensive development, Overtime has positioned itself as a leading fully onchain sportsbook, offering functionalities akin to traditional offchain platforms. Built atop the Ethereum network, the protocol is committed to delivering transparency, security, and immutability. Noteworthy operational achievements include:
- Over $200 million in transaction volumes
- Support for more than 100 sports and leagues
- 50,000 active users
- Over 10,000 unique betting markets
Interested users can explore the newly launched Overtime domain here: https://www.overtime.io/
A Decentralized Alternative to Traditional Sports Betting
Overtime sets itself apart from traditional bookmakers by offering a fully decentralized, permissionless sportsbook platform. Users can seamlessly access Overtime without encountering the restrictive betting limits, arbitrary bans, or withheld payouts common with traditional platforms.
Since its launch, Overtime has emerged as a significant contributor to the growth of the Thales DAO. In recognition of its success, the DAO community unanimously approved the merger into the Overtime brand via Thales Improvement Proposal 238.
Comprehensive Onchain User Experience Enabled by Full Account Abstraction
In conjunction with this launch, Overtime is also unveiling a novel concept: Overtime Accounts. These onchain smart accounts are designed to simplify interaction by abstracting the complexities of wallets and Ethereum Virtual Machine (EVM) networks.
Overtime Accounts leverage Particle Network for seamless wallet creation via social logins, and utilize Biconomy’s SDK for smart-account functionalities, which facilitate frictionless transactions through its Paymaster, Bundler, and Session Keys infrastructure. After users create an Overtime Account, they can deposit supported collateral into their designated address, gaining access to an array of features including parlays, system bets, same-game parlays (SGPs), futures, and live betting. Transactions will occur through a robust account abstraction framework that negates the need for manual confirmations or Ethereum (ETH) for gas fees.
The Overtime user experience has been meticulously crafted to lessen blockchain-related complexities, allowing users to engage with the sportsbook features without needing technical proficiency with blockchain processes. The platform’s interface presents a streamlined experience comparable to traditional web applications while harnessing the transparency and self-custody benefits of the Ethereum network.
A new Overtime user experience is available here: https://www.overtimemarkets.xyz/
The New Overtime DAO Token: $OVER
The newly introduced $OVER token will have a total supply of 69.42 million, down from the original 100 million THALES token. This adjustment will involve the burning of 30.58 million THALES tokens in preparation for the migration to $OVER. All holders of THALES tokens will have the opportunity to convert their $THALES to $OVER at a 1:1 ratio through the new Overtime domain, creating a pathway for sustainable tokenomics focused entirely on the $OVER token.
The $OVER token will serve multiple utilities, including:
- $OVER as Betting Collateral: Users will enjoy enhanced odds (2% better than baseline) by using $OVER as collateral, promoting usage and aligning token holders with the platform’s users.
- Buyback & Burn: All fees generated from Overtime will be directed towards $OVER token buybacks, reinforcing the project’s growth strategy and creating deflationary dynamics through token burning.
- Governance Token: Holding $OVER will grant users voting rights within the Overtime decentralized governance structure.
The $OVER token will be built using Chainlink’s CCT token standard, ensuring ease of cross-network bridging through Chainlink’s CCIP. The token will be available on Optimism, Arbitrum, and Base across prominent decentralized exchanges including Uniswap, Velodrome, and Aerodrome.
How Overtime Works
Overtime’s innovations reaffirm its leadership within the industry:
- Onchain Parlays, System Bets, and SGPs: By leveraging advanced smart contract technology, Overtime delivers sophisticated sportsbook features onchain.
- Live Betting: The robust architecture, combined with Chainlink oracle infrastructure, allows Overtime to facilitate onchain Live Betting while mitigating risks such as frontrunning and toxic flow.
- Permissionless Liquidity Providing: Overtime Liquidity Pools permit anyone to deposit USDC, ETH, and BTC collateral, providing exposure to platform performance and serving as a counterparty pool.
- Onchain Free Bets Infrastructure: Users can wrap their tokens and send them as Overtime Free Bets, contributing to user rewards and onboarding.
A Global Movement
Overtime embodies an onchain revolution, exemplifying how traditional industries can be enhanced through onchain technology. This reality emphasizes fairness, permissionlessness, and global accessibility, positioning Overtime as a formidable competitor to conventional offchain sportsbooks.
Unlike traditional platforms that restrict users based on performance, Overtime operates on a transparent and onchain infrastructure, ensuring participation governed by smart contracts devoid of user-specific limitations.
To date, Overtime has distributed millions in cryptocurrency incentives, rewards, and competition payouts. Participation in Overtime’s promotional campaigns and airdrops remains open to all users, subject to eligibility criteria and regional availability.
About Overtime
Overtime is a fully onchain sportsbook designed for accessibility, allowing users to connect through social accounts or EVM-compatible wallets. Supporting multiple cryptocurrencies, Overtime also provides fiat onramp options via credit card payments. Operating through decentralized infrastructure, Overtime replicates core sportsbook functionalities without implementing user bans or individual restrictions, enabling open access for placing bets and withdrawing funds. Throughout each season, users may qualify for various incentives, including cryptocurrency airdrops, free bet credits, and more. Moreover, users can participate in the platform’s liquidity pool as liquidity providers.
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