LOL

This app enables users to issue LOL, a price-protected token, as well as trade put options.

LOL token is issued by borrowing against locking a collateral. If the token’s price on DEXes grows after borrowing, the user will be able to sell it for profit. If it falls, the user will be able to repay the loan and get their collateral back (less fees). This is what ensures price protection.

LOL dapp is built on top of LINE, the first price-protected token, by using LINE as collateral.

LOL was developed by the [Obyte](https://obyte.org) team and launched in February 2025 on the Kava network. Its smart contracts are similar to those of LINE, launched in August 2023, but accept LINE as collateral. Since 2016, the Obyte team has developed the Obyte DAG and a number of apps and features that were first of its kind.

Individual loans can also be sold as NFTs. They represent a put option which is a popular trading instrument used to hedge against the price going down.