Overlay Protocol is a decentralized platform that enables trading various assets without traditional liquidity providers or market makers. Overlay Market provides a dynamic mint/burn model built around the $OVL token to solve liquidity problems for low-volume assets.
Overlay Protocol successfully raised $2.22M from Polychain Capital, ParaFi Capital, 1kx, The LAO, MetaCartel Ventures and others.
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A decentralized platform on Ethereum called Overlay Protocol enables users to create positions on many markets or data streams independently of conventional counterparties. It doesn't need market makers or liquidity providers since it provides markets based on pricing data feeds and non-manipulable and non-predictable data feeds. Users can concurrently set up positions against the protocol or all other OVL holders.
Overlay Protocol provides trading for several types of assets:
🤑 $OVL is the native token of the Overlay Protocol that enables users to lock $OLV, as collateral, to trade other assets on the platform and vote on governance proposals of the Overlay Protocol DAO.
The CoinLaunch team analyzed the Overlay Protocol and identified some pros and cons to consider before participating in the project testnet or purchasing $OVL tokens:
✅ Overlay Protocol pros:
📛 Overlay Protocol cons:
<a href="https://coinlaunch.space/projects/overlay-protocol/" title="Overlay Protocol (OVL)" target="_blank"><img src="https://coinlaunch.space/media/widgets/0/overlay-protocol.png" width="224" alt="Overlay Protocol (OVL)"></a>