A slew of forks (over 30 , according to DeFi influencer mewnyfish) of the OlympusDAO codebase have emerged. OlympusDAO’s protocol-owned liquidity model has been a catalyst for the DeFi 2.0 movement, and its success is inspiring copycats.
Read moreIs Olympus Dao sustainable?
One of the reasons that Olympus gained so much traction early on was the more than 7,000% APY offered, which it claimed was sustainable for an extended period of time . Even for the most risk-on farmers, promising 7,000% APY sustainably immediately screams “Ponzi”.
Read moreWhat is a Olympus Dao fork?
Olympus is one of the new DAOs (Decentralized Autonomous Organization) looking to create a currency to compete with the dollar . Its native token, OHM is not a stable coin, it is a free-floating currency backed by a basket of assets held in its treasury.19 Ara 2021
Read moreWhat happened with Olympus Dao?
Olympus DAO’s native token hit $1,415 at its peak in 2021, and it has dropped 91.8% from an all-time high. Experts believe that capitulation by whales triggered a drop in the Ethereum based token’s price.
Read moreWhat is the most stable stablecoin?
Originally founded in 2014 as Realcoin, Tether sits rightfully atop the list of stablecoins as the first such coin in the world. And with a $78 billion market cap, it’s also the largest by far.
Read moreWhat is the best stable coin to use?
Binance USD is one of the most popular stablecoins in the crypto market. These stablecoins are generated from the Binance company. It is basically the Binance crypto being pegged to fiat cash, more specifically, the US dollar. This is one of the most used stablecoins in the market.
Read moreWhy is OHM crypto dropping?
OHM has been on a downtrend since November 2021 and is down more than 60% year-to-date. This price drop also meant that overleveraged OHM long positions went underwater causing a cascade of liquidations that ultimately led to further downward pressure on the token price.
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