The fuel of the multiverse
Overline's native mineable currency OL is the fuel of the multichain universe. What ETH is to Ethereum, OL is to Overline.
9.8 B OL
~104.9 M OL
What is OL?
Like BTC is to Bitcoin and ETH is to Ethereum, OL is the native crypto asset of the Overline blockchain.
All actions on the Overline network can be expressed in OL - a similar comparison can be made to Ethereum's gas fees.
Whether someone is submitting a transaction, making a cross-chain trade, or sending something over Overline's wireless network, in order to do so they require a small amount of OL to submit their transaction to the network.
OL is also used as collateral, operating as a decentralized accountability mechanism to fuel Overline's cross-chain trades.
How does OL collateral work?
When a trade is placed on the Overline network, OL commensurate to the value of the trade is temporarily locked for a specified term known as the "Settlement Window".
During the settlement window, each party is responsible for fulfilling their side of the exchange. The Overline multichain will continuously observe connected chains to see whether the relevant assets are sent and received by both parties.
In this way, you can think of Overline like a completely decentralized referee/escrow for cross-chain transactions.
What are OL's tokenomics?
OL is a floating asset driven by free market forces, just like Bitcoin.
Due to OL's role in collateralizing trades, the value of OL is a good indicator of the Overline network's overall adoption and growth. As trades are placed on the Overline network, OL is temporarily locked as collateral, causing a temporary OL supply reduction. Because of this, as trade volume increases over the network, more of the OL supply is locked.
Similarly, as trading activity grows on the network, demand for OL grows due to the need to collateralize trades being made.
Reduced supply + increased demand = ... you know the thing, c'mon man!
Can OL be staked?
Not yet, however various solutions are being explored that would enable OL to be trustlessly lent out to traders for collateralization, therefore providing yield for OL holders.
Is OL used in Overline's wireless network?
On the multichain OL is used just like BTC or ETH in order to pay fees for miners to include your transaction into a block.
In the wireless network, this is very much the same, only the network fees are awarded to wireless node operators (hence the term "wireless mining"). Users can think of OL almost like the pre-paid credit many of you are probably familiar with from your telcos at some point or another.
Loading up on OL is like loading up on pre-paid credits/cellular data allowance.