Exploring the chiral regime with dynamical overlap fermions

I report the status of the dynamical overlap fermion project by the JLQCD and TWQCD collaborations. So far, the simulations have been completed with two flavors of overlap sea quarks in a wide range of sea quark mass corresponding the $p$-regime and the $\epsilon$-regime on a $16^3\times 32$ lattice at $a=$0.12 fm. More recently, runs with 2+1 flavors of sea quarks have also started. This talk mainly discusses the physics results on the $N_f=2$ lattice after describing the lattice formulation and algorithms.