The Lien Protocol is the smart contract that makes the bifurcation (tranching) of ETH into a stable coin and a call option possible. Users can create, trade, and use stable coins and options created from ETH, without worrying about counterparty risk. The Lien project is completely decentralized. There are no adjustable parameters or any governance schemes that can create centralization of authority. The three core features of LIEN are Tokens (iDOL, LBT, SBT, LIEN), DEX (FairSwap), and the Lien protocol.

The Lien Token (LIEN) is a utility token that the holders can use to receive discounts on the protocol fees that are required when transacting on the Lien Protocol and FairSwap. The Lien Protocol charges a fee (0.2%) when users mint the iDOL stable coin and when users exchange assets using FairSwap (0.3% - variable). Fees are collected in ETH or iDOL and are then distributed proportionally to holders of the Lien Token as discounts/rebates at the end of each month. 100% of Lien Protocol fees and 20% of FairSwap fees are attributed to Lien Token holders.