In simple words, OHM is an algorithmic stablecoin that maintains a floating market-driven price without the 1:1 dollar collateral backing . OHM is different from other stablecoins as it is not directly pegged to the US dollar. Instead, each OHM token is backed by 1 DAI unit in their treasury.
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Is OHM a stable coin? No, OHM is not a stable coin . Rather, OHM aspires to become an algorithmic reserve currency backed by other decentralized assets.
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