【Airdrop Tutorial】The First Decentralized Data Derivatives Protocol Overlay's Final Sprint Before Token Launch: Zero-Cost Airdrop on Testnet

Sharing a project that allows for a zero-cost airdrop; those with time can prepare in advance!

1. What exactly is Overlay?

Overlay is the first decentralized data derivatives protocol on the BNB chain. Simply put, it enables people to trade real-world data on the blockchain, just like buying and selling stocks or cryptocurrencies. @OverlayProtocol

What makes it special is that what you can trade isn't just ordinary assets, but various 'quirky' data indicators, such as:

- How much ETH is burned daily on Ethereum (cryptocurrency-related)

- The number of viewers for a specific streamer on Twitch (social media data)

- The price of a skin in the CS2 game (gaming assets)

- The temperature of a city (real-world data)

- Even the trends in adult content (non-traditional markets)

This data is turned into tradable derivatives by Overlay (like futures or options), allowing you to 'bet' on the rise and fall of these data points using cryptocurrency on the platform.

For example, if you think the audience for a specific Twitch streamer will surge, you can buy a 'call' contract to profit from the price difference.

Overlay transforms all real-world data into a money-making game.

It creates a brand-new market where you can trade things that were previously impossible to trade.

2. How is Overlay achieved?

Firstly, there is no counterparty required on this platform:

Traditional trading needs someone to buy and someone to sell (like the stock market).

Overlay uses a mechanism called dynamic minting/burning to automatically generate trading contracts with its token $OVL.

Whatever you want to trade, the system will 'create' it for you, eliminating the need for others to trade with you.

This allows niche markets (like game skins, weather) to trade easily, as not many participants are needed.

Thus, the reliability of data sources is crucial for this platform.

Overlay collaborates with data providers like Pyth Network to ensure that Twitch data, weather, game skin prices, etc., are accurate and real-time.

3. Why is this project worth participating in?

Firstly, it's a brand-new market.

Overlay expands DeFi beyond just the 'traditional' assets like Bitcoin and Ethereum. You can trade in emerging fields like Twitch, gaming, and weather, attracting many people, especially young individuals, gamers, and data enthusiasts.

This 'novelty' could make it spread quickly like short video platforms, drawing in large numbers of users.

Crucially, it addresses liquidity issues:

Many niche markets (like CS2 skins) have little trading activity due to the lack of buyers or sellers. Overlay's no-counterparty mechanism allows these markets to become active and trading to be more convenient.

Additionally, it has support from major institutions:

The project has raised $2.21 million in funding, backed by big names in the crypto space like Polychain, 1kx, and ParaFi. Their confidence in Overlay's potential indicates that the project has a solid foundation.

There is also high potential for returns:

As it is an emerging market, price fluctuations can be significant. If you have unique insights into a certain field (like gaming or social media), you could earn high returns through trading. Of course, high returns also come with high risks.

4. How to participate in this project?

Overlay TORCH is set to launch on the BNB chain TGE, and is currently in the final sprint phase before the mainnet launch and OVL IDO — referred to as the TORCH initiative.

Now is the perfect time for veteran players to engage deeply and for new players to stake their claims early; you can claim test tokens OVL, and then trade these test tokens on Overlay to earn points, with around 6,000 participants already involved.

- Trade on the Overlay testnet to earn daily updated point rewards.

- The OVL and tBNC claiming center is located in the official Discord's #claim-ovl channel, or you can visit the claiming center directly.

- Each address can only claim once, please use it wisely and don't lose it all in the first few minutes!

- The system will recognize abnormal trading behavior; volume manipulation is ineffective; frequent traders with excellent performance will earn more points.

- The activity period is expected to last 3-6 weeks, with a total of 2% of tokens allocated to the best-performing users.

In summary, this is a zero-cost project worth exploring if you have the time!