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Introduction

OverProtocol is a Layer 1 blockchain project that aims to democratize blockchain participation by enabling individuals to run full nodes on their personal computers. This project falls within the blockchain and decentralized finance (DeFi) sector, focusing on creating a truly decentralized and accessible network. The native token of OverProtocol, known as the OVER token, plays a crucial role in this ecosystem by incentivizing participation and securing the network.

Project Content and Origin

OverProtocol was developed to address the high resource requirements and centralization issues prevalent in many existing blockchain networks. Traditional blockchain systems often demand significant computational power and financial resources, which can exclude everyday users from participating. OverProtocol aims to overcome these barriers by introducing a lightweight node infrastructure that allows anyone with a personal computer to become a validator.

The project was founded with the vision of creating a global peer-to-peer financial network that is inclusive and sustainable. By leveraging the OverScape app, users can participate in the network without needing specialized knowledge or expensive hardware. This approach not only enhances decentralization but also opens up new financial opportunities for a broader audience.

Founders and Community Management

OverProtocol was founded by a team of blockchain enthusiasts and experts who recognized the need for a more inclusive and accessible blockchain network. The core team includes individuals with extensive experience in blockchain technology, software development, and decentralized finance.

Community management is a key aspect of Over Protocol’s strategy. The project places a strong emphasis on transparency and engagement, ensuring that all participants understand how the network operates. The community is actively involved in decision-making processes through a decentralized autonomous organization (DAO) structure, where participants can vote on resource allocation and network upgrades.

Principles and Architecture

Design Principles

OverProtocol is built on several core principles designed to ensure accessibility, inclusivity, and sustainability:

1. Lower System Requirements: The network is designed to run on personal computers or low-cost hardware, reducing the technical barriers to participation.

2. Minimize Economic Barriers: Low staking requirements and mechanisms for smaller participants to engage meaningfully help foster a diverse and decentralized ecosystem.

3. Ensure Sustainability: The architecture is optimized for efficiency, maintaining stability without becoming resource-intensive.

4. Simplify Network Access: Intuitive interfaces and streamlined processes make the network accessible for both developers and users.

5. Foster Clarity and Trust: Transparent processes and clear communication build trust and encourage engagement.

Layered Architecture

OverProtocol employs a layered architecture to optimize both accessibility and sustainability. The data is segmented into essential and non-essential components, ensuring that blockchain participation remains lightweight and scalable. This approach reduces resource demands on participating nodes, making the network more inclusive.

The architecture consists of two main layers:

1. Over Layer: Contains active states and recent block data essential for ongoing transactions and operations.

2. Nether Layer: Stores inactive states and older block data, which are less frequently accessed but important for overall network integrity.

This separation ensures that only the most essential data is actively maintained, reducing the hardware and storage requirements for nodes.

Blockchain Platform

OverProtocol is a Layer 1 blockchain network that empowers individuals to run full nodes on their personal computers. The network uses a Proof-of-Stake (PoS) consensus mechanism, which is designed to welcome all participants, not just those with large stakes. This inclusive approach helps to decentralize the network and reduce the concentration of power.

The OverScape app is a key component of the platform, providing a user-friendly interface for node operators. Through OverScape, users can validate transactions, propose blocks, and earn OVER tokens as rewards. This setup democratizes the blockchain validation process and enhances the overall security and decentralization of the network.

Launch Date and Significant Milestones

OverProtocol successfully @overprotocol/overprotocol-mainnet-is-live-ece10830f3a0">launched its mainnet in December 2024. This milestone marked the beginning of a new era for the project, enabling users to participate in the network and earn rewards through home staking. The launch was followed by a series of significant events, including a large-scale token airdrop and the introduction of key ecosystem applications like OverFlex and OverScape.

The project has also achieved several other milestones, such as:

• Token Airdrop: Distributed 57 million OVER tokens to approximately 420,000 unique accounts.

• Partnerships: Collaborated with leading crypto exchanges to enhance the network’s capabilities and reach.

• Community Events: Hosted events like “HangOver” during Korea Blockchain Week to showcase the project’s vision and progress.

Reasons for Development, Strengths, and Weaknesses

Reasons for Development

OverProtocol was developed to address several key challenges in the blockchain space:

1. High Resource Requirements: Traditional blockchains often require significant computational power and financial resources, excluding everyday users.

2. Centralization: Many existing networks rely heavily on institutional validators, leading to a concentration of power.

3. Technical Complexity: The complexity of cryptographic keys, wallet management, and transaction processes can be overwhelming for users.

Strengths

1. Accessibility: Over Protocol’s lightweight node infrastructure allows anyone with a personal computer to participate in the network. This significantly lowers the barrier to entry, making blockchain participation more inclusive and widespread.

2. Inclusivity: The network’s design principles ensure that even users with minimal capital can engage meaningfully. By minimizing economic barriers, OverProtocol fosters a diverse and decentralized ecosystem where small-scale participants can contribute and benefit.

3. Sustainability: The efficient architecture of OverProtocol maintains stability without becoming resource-intensive. This ensures that the network can scale sustainably, supporting long-term growth and adoption.

4. User-Friendly: Intuitive interfaces and streamlined processes make the network accessible for both developers and users. The OverScape app, for instance, simplifies the process of running a node, validating transactions, and earning rewards.

5. Decentralization: The PoS consensus mechanism and decentralized governance structure reduce the concentration of power. This enhances the security and resilience of the network, as decisions are made collectively by the community rather than a few centralized entities.

6. Economic Incentives: The tokenomics of OVER are designed to align economic incentives with network goals. Validators and active participants are rewarded in OVER for their contributions to network security and scalability. This encourages consistent participation and helps maintain a decentralized validator set.

7. Security: Staking mechanisms protect the network from malicious activity by ensuring validators have a vested interest in the system. This alignment of incentives enhances the overall security and reliability of the network.

8. Community Engagement: OverProtocol places a strong emphasis on community engagement and transparency. The DAO structure allows participants to vote on resource allocation and network upgrades, ensuring that the community has a say in the network’s future direction.

Weaknesses

1. Adoption: As a relatively new project, OverProtocol may face challenges in achieving widespread adoption. Building a large and active user base will be crucial for the network’s success.

2. Competition: The blockchain space is highly competitive, with many established projects vying for market share. OverProtocol will need to differentiate itself and demonstrate its unique value proposition to attract users and developers.

3. Technical Barriers: Despite efforts to simplify participation, some users may still find the technical aspects of running a node challenging. Providing comprehensive support and educational resources will be important to address these barriers.

User Participation Benefits

Participating in the OverProtocol network offers several benefits for users:

1. Earning Rewards: Node operators earn OVER tokens as rewards for validating transactions and proposing blocks. These rewards provide a financial incentive for users to participate in the network.

2. Financial Opportunities: Accumulated rewards can be utilized in various DeFi services, such as purchasing real-world linked products or using tokens as collateral for loans. This opens up new financial opportunities for users and enhances the utility of the OVER token.

3. Decentralized Governance: Users can participate in decision-making processes through the DAO structure, influencing the network’s future direction. This empowers the community and ensures that the network remains decentralized and community-driven.

Pricing and Tokenomics

Tokenomics

The OVER token has a total supply of 1 billion tokens, with a market cap of $81.1 million as of the time of writing. The tokenomics of OVER are designed to incentivize participation and ensure the long-term sustainability of the network.

1. Total Supply: 1 billion OVER tokens.

2. Market Cap: $81.1 million.

3. Distribution: Tokens are distributed through various mechanisms, including staking rewards, airdrops, and community incentives.

Token Allocation

1. Staking Rewards: Staking rewards are structured to ensure the network’s stability and security. These rewards include a minimum guaranteed allocation of 200 million OVER and an adjustable allocation of 100 million OVER. Each year, 20 million OVER is distributed as a fixed reward to participants. Additionally, the network dynamically adjusts extra rewards through a feedback mechanism.

2. DAO Treasury: The DAO Treasury serves as a funding resource for ecosystem development, distributed linearly over the first 10 years. The community decides how to allocate these funds through voting, directing resources to initiatives such as new dApp development, network improvements, and user education campaigns. Additionally, transaction fees and other network-generated revenue are continuously added to the DAO Treasury, providing a steady stream of resources to support ongoing ecosystem growth.

3. Over Community Access Program (OCAP): Designed to boost engagement and adoption, this program supports activities like liquidity provision and airdrops. It encourages network participation from small-scale contributors and new users, helping to establish a strong initial user base for OverProtocol.

4. Development and Strategic Investments: Development and strategic investments are allocated to ensure the stable establishment and sustainable growth of the network during its early stages. These funds are distributed to the development team and early investors through a 2-year schedule, which includes a 6-month cliff and 18 months of linear vesting.

Initial Supply

At the genesis of OverProtocol, 190 million OVER tokens (19% of the total supply) will be circulating to support the network’s stability and early operation.

• OCAP: A total of 150 million OVER from OCAP is circulating at genesis. These tokens are allocated for airdrops, liquidity provision, and user engagement to drive initial adoption and ecosystem participation.

• Over Foundation (OF) and Over Technologies (OT): Both categories are subject to a 2-year vesting schedule with a 6-month cliff. However, 20% of their allocation (20 million OVER each) is unlocked at genesis. These unlocked tokens are deployed as validator staking resources, ensuring network security and stability in the early phases.

Purpose of Initial Circulating Supply

• Validator Staking: Tokens from OF and OT are used to stabilize the blockchain by operating validators during the early phase.

• Ecosystem Growth: OCAP provides resources for airdrops, liquidity incentives, and user rewards to encourage network adoption.

• Controlled Inflation: The careful management of initial supply prevents excessive inflation while maintaining security and decentralization.

This comprehensive tokenomics strategy ensures that the OVER token supports the network’s development, incentivizes user participation, and maintains a balanced and sustainable ecosystem. By carefully allocating tokens to various aspects of the platform, OverProtocol is well-positioned to achieve its long-term objectives and drive value for its community.

Pricing

The OVER token is listed for trading on Gate.io, one of the leading cryptocurrency exchanges. The token’s price is subject to market fluctuations, influenced by factors such as demand, trading volume, and overall market conditions.

Conclusion

OverProtocol represents a significant step forward in the blockchain space, offering a more inclusive and accessible network for users worldwide. The OVER token plays a crucial role in this ecosystem, incentivizing participation and securing the network. With its innovative design principles, layered architecture, and user-friendly platform, OverProtocol is well-positioned to drive the next wave of blockchain adoption.

By addressing the challenges of high resource requirements, centralization, and technical complexity, OverProtocol aims to create a truly decentralized and sustainable network. As the project continues to grow and achieve new milestones, it will be exciting to see how it shapes the future of decentralized finance and blockchain technology.