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Polymarket: Predict Everything

Overlay: Leverage Everything

What is Overlay?

Overlay is a decentralized data derivatives protocol that brings various indicators and events from the real world onto the blockchain for trading, such as ETH burn rate, CS2 game skin market value, AI token index, and more.

In 2021, Overlay completed a $2.21 million seed round financing, with participation from well-known institutions like Polychain, 1kx, and ParaFi.

Operating Mechanism

The Overlay protocol allows for the creation of markets based on data streams without the need for traditional counterparties or liquidity pools, achieved through the native token OVL:

Traders stake OVL as collateral to enter the market.

When profitable, the protocol mints OVL as a reward.

When incurring losses, the protocol burns OVL, reducing supply.

My understanding is: In the Overlay mechanism, the counterparty for the opening user is the platform itself, with both parties betting OVL on specific events or indicators for trend betting.

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