What is the Overline Desktop Application?
Secured by thousands of miners worldwide, the Overline Desktop App is a 24/7 unstoppable marketplace with no accounts, no fees, and unlimited access to Gold, USDT, and cryptocurrencies. Built on using Overline, this marketplace is available to anyone with an internet connection worldwide.
What is the Overline Desktop App?
The Overline Desktop application (“the desktop app”) is a user interface that accesses Overline’s robust peer-to-peer digital asset trading network. This app is the first truly decentralized marketplace which does not broker trades, hold assets, or require trust, but instead places the power of fair trade in the hands of its users.
How does the desktop app work?
The desktop app interacts with Overline by allowing users to retrieve and place orders that exist on the multichain and presenting them in a human-readable format.
An important distinction is that there are no components of the interface that risk centralization. Order books, wallet management, network fees, and every aspect of the app is completely on-chain and decentralized.
What is a maker and taker?
Taker. If a user places an order on an exchange that is immediately filled, either partially or in its entirety, they are considered a “taker.” A user who does this is “taking” the price they want, right now, generally through buying or selling orders sitting on the books.
Maker. When am exchange user places an order that doesn’t fill immediately, they are a “maker.” By placing orders on the books, the user helps to “make the market” and as such is considered a “market maker”.
What are the fees to trade on the desktop app?
While there are no fees taken by the Overline team, there are Overline (OL) fees associated with each transaction.
What are OL fees?
Overline (OL) fees are miner fees, similar to gas on Ethereum. They are provided to the miners who are responsible for adding the execution of trades made on the desktop app to the Overline multichain via their computational resources.
NOTE: Overline does NOT take any fees from trades on the network. These Overline fees are strictly for miners.
Who pays the Overline fees?
Traders pay the Overline fees. Any time a trade occurs, a minimal amount of Overline is required from both maker and taker to be sent to the Overline miners as a reward to facilitate that trade.
How much Overline is needed to perform a trade?
Each trade’s Overline fee will be minimal, but will vary depending on the length of the trade (meaning the longer the deposit and settlement period, the more expensive the transaction). This is because miners completing these transactions have to keep track of them longer in order to appropriately mark them for the child chains, extending the duration of computational effort and therefore the reward necessary.
What is Collateral Based Trading?
Trading on the desktop app is facilitated by collateralizing Overline, a process which involved locking up a certain amount of Overline as collateral to ensure the trade goes through.
Read more about Collateral Based Trading here.
What are the minimum trade orders on the desktop app?
There are none. Provided you find someone to take the trade or place the order, and send along the necessary Overline fees, there are no minimums.
What are the minimum withdrawal / deposit amounts for all tokens?
There are none. There is no centralized storage, there are no withdrawal limits. Your wallets are in your control the entire time.
Does it support partial order fulfillment?
Yes. Some orders can be taken in smaller increments, if designated by the maker.
Why do the minimum incremental percentages differ order to order?
When an order is placed, the maker sets the partial order increments. This can be set as low as 10% and as high as 100%
What happens when the minimum order % is met?
If you set a minimum order % of less than 100%, then a partial order can be filled. This would automatically take the corresponding partial ratio of your order and your OL collateral and turn it into a complete order. The rest of your order will remain on the order book with the new minimum order amount the same value as the original order, but applied to the remaining balance.
How do I run the desktop app?
You must download and run the the Overline Desktop application. Follow this step-by-step guide for an easy to follow setup.
What are the system requirements to run the app?
|- Windows: Windows 8 Pro (hypervisor support) through Windows 10 (hypervisor support)|
|- Linux: Ubuntu 16.04 LTS or greater up to Ubuntu 19.04|
|- Mac: OSX 10.8+|
|- 22 GB HDD, 8GB RAM (minimum 6GB)|
How do I add funds to my account?
Adding funds to your trading session is simple and safe. Since the Overline Desktop App is truly decentralized, your funds are never uploaded to any centralized server or escrow service, you remain in control of your funds the entire time. Simply add the private key from your desired asset’s wallet to your locally running the desktop app and you can access those funds on the exchange.
Are my funds safe on the desktop app??
Yes! The session is encrypted end to end and a user’s wallets are in their control the entire time. There will never be a username or password that the application stores or requires from a user.
What’s a BSEC wallet? How should I use it?
If you were a participant in the original public sale of Emblems, you created a BSEC wallet. This wallet holds your Emblems, so simply upload the ETH private key to the Overline Desktop Application to access your Emblems.
Does the amount of Overline available in my wallet affect the orders I can see?
No. Regardless of the Overline in your wallet, you can always see all open orders on the order book.
What about fees from child chain networks?
Yes, there are network fees required on the child chains in order to settle their respective transactions. Examples of network fees are Gas fees on the Ethereum network or Bitcoin fees for the Bitcoin network.
How many blocks need to be confirmed before an individual trade is considered confirmed?
The Shift Operator will be defaulted to wait 10 blocks (about 50 seconds) before considering a trade confirmed, however the Maker can edit this number to their preference in the settings window.
What are the min and max deposit (trade) and settlement windows that can be set for Makers?
Trade and Settlement windows can be set at 1 hour intervals between 1 and 24 hours on the desktop app.
Updated 29 days ago