Description
Overlay is a decentralized finance (DeFi) protocol that allows users to trade synthetic assets based on real-world data feeds, such as cryptocurrency prices, traditional financial markets, and election outcomes. By leveraging smart contracts for execution and settlement, Overlay enables permissionless access to financial markets, eliminating the need for traditional intermediaries. Users can open long or short positions by locking up Over Tokens (OVL), the platform's native token, into various data streams. The protocol uses reliable oracles to source data and dynamically mints or burns OVL based on net profit or loss, adjusting the token's supply accordingly. Trading fees in OVL contribute to a community-governed treasury that incentivizes liquidity providers and ensures a stable price feed for the OVLETH pair. Initially launched in a controlled environment called Litter Box, Overlay restricts the circulating supply to fewer than 20,000 OVL tokens to maintain stability and security.
Overlay is a decentralized finance (DeFi) protocol that allows users to trade synthetic assets based on real-world data feeds, such as cryptocurrency prices, traditional financial markets, and election outcomes. By leveraging smart contracts for execution and settlement, Overlay enables permissionless access to financial markets, eliminating the need for traditional intermediaries. Users can open long or short positions by locking up Over Tokens (OVL), the platform's native token, into various data streams. The protocol uses reliable oracles to source data and dynamically mints or burns OVL based on net profit or loss, adjusting the token's supply accordingly. Trading fees in OVL contribute to a community-governed treasury that incentivizes liquidity providers and ensures a stable price feed for the OVLETH pair. Initially launched in a controlled environment called Litter Box, Overlay restricts the circulating supply to fewer than 20,000 OVL tokens to maintain stability and security.
