OL is the Overline network's native cryptocurrency and is the fuel that powers the network. What ETH is to Ethereum, OL is to Overline.
When an order is matched on the Overline Interchange, both parties lock an equal amount of OL as collateral. OL ensures that both parties are held accountable.
Once locked, the maker and taker must send the assets that correspond to their side of the trade. For example, Alice and Bob enter an ETH/BTC trade. Both temporarily lock OL corresponding to the value of their trade, Alice must send BTC to Bob, and Bob must send ETH to Alice.
Overline's miners observe chains connected to the network. In the case of Alice and Bob they observe the BTC and ETH chains waiting to see transactions confirmed at the addresses nominated by both counterparties before the settlement period expires.
If both parties send their corresponding assets, they will both get their OL collateral back. However if only one party fulfills their side of the trade, the other will lose their OL collateral as a penalty, and the other party will receive it as compensation.
Like BTC is to Bitcoin, and ETH is to Ethereum, OL is the native currency of the Overline multichain network. OL is the first and only mineable multichain currency.
Overline is required to make transactions on the Overline network, and trades on the Overline Interchange. It is also the collateral and accountability mechanism that powers truly decentralized cross-chain trade.
We are firm believers in the purity of Satoshi's original model for decentralized finance pioneered in the form of Bitcoin's Proof-of-Work consensus. Overline introduces cross-chain trade and interoperability with a Bitcoin-level standard of democratization and decentralization. In short, the Overline network represents trade as Satoshi would have intended.