The most used protocols on crypto are futures protocols. In fact, Overlay protocol is not just a perp dex. In my opinion, it is the most important project that has joined the Movement ecosystem.
Move language is the most important language in crypto in recent times. We see many projects joining the movement ecosystem because it is secure for defi transactions. I think the most important of these projects is Overlay Protocol.
Overlay Protocol is a decentralized platform,and offers users the ability to build positions on a market or data stream without traditional counterparties (liquidity providers or market makers) taking the other side of the position. The protocol can offer markets on ANY non-manipulable & non-predictable numerical data feed. Overlay is offering us to trade everything without thinking about the liquidit.
THAT IS AMAZING.
Non-traditional crypto markets, such as markets that allow users to position on hash rate, gas, BTC difficulty, NFT bases, social tokens, yield rates, etc. Non-traditional markets, such as e-sports & sports, sneaker prices, scalar socio-political markets, nature and science markets, etc.
What do you think ? I am impressed. I can trade what i want! That’s really amazing.
You can find all the details from the docs.
I dont know the funds but backers are really good.
Also they have completed many audits.
Everything seems good. Lets check how can we use Overlay on Movement testnet.
You need an Evm wallet , and you need to add Movement EVM testnet. Than you can get tokens from the faucets.
- Get MOVE on movement faucet.
- Get OVL from Overlay faucet
- Choose market from the top and create a position for BTC dominance and ETH dominance.
That’s all.
Also you need to join the community.
There is some galxe missions for complete.
That’s all! Thanks for reading.
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