what's Overlay Protocol?
Overlay Protocol is a decentralized exchange (DEX) specializing in perpetual futures for exotic and illiquid markets. It enables leveraged trading (up to 10x) on unique data streams such as AI protocol indexes, blockchain metrics like Bitcoin dominance or hash rates, NFT floor prices, e-sports outcomes, social tokens, and meme token performance baskets. The protocol eliminates traditional order books and counterparties by using a novel liquidity mechanism for DeFi data streams, offering low fees (0.075% trading), minimal slippage (1%), and access across chains like Berachain. Users can trade anything from Counter-Strike skins indices to Twitter influencer activity, turning narratives and chaos into perpetual markets.
Overlay is a newly added, live dApp on Binance Wallet.
Offers a "Double or Nothing" betting feature with 15-minute cycles and exotic perpetual futures markets including pairs like MYX vs. ASTER and Silver vs. Gold, as well as indexes such as Elon Musk index and CZ Signals index.
Overlay is now integrated and live on Binance Wallet as a newly added dApp.
Multi-Collateral trading feature has gone live as a major product update. A trading competition launches with a $30K USDC prize pool, and the token is now listed on additional exchanges including Gate, MEXC, and BingX.
Token distribution campaign exceeding $500K initiated
Airdrop of 111 OVL tokens available for 200+ Binance Alpha Points holders, with 15-point hourly threshold reduction. Trading begins August 14th at 07:30 UTC.
Testnet shows strong traction with 80k+ wallets and 3.5M executed trades, while securing backing from Polychain, 1kx, and ParaFi with 1-year team/VC token lockup.
Operates as an oracle-based perps platform with OVL token serving as collateral and PnL denomination, also offers positions with USDT collateral and PnL, no expiry, and no counterparty liquidation cascades.
Token launches August 14th, 2025 (09:00 UTC) on multiple exchanges with Binance Alpha airdrop distribution.
Active grant proposal in Metaplex DAO voting phase for API development support.
Major sell-off occurring with key players $CHEX and $CPOOL exiting positions while team remains inactive.
New airdrop announced with potential value exceeding $1 million.
Public testnet launch imminent with v1.0 release and SDK toolkit completion.