The OlympusDAO platform has undergone numerous upgrades, resulting in various forked products known as Ohm Forks. By taking advantage of these improvements to its codebase, the project is poised to make impressive breakthroughs within its fields.
What's an OHM Fork
Technology advances rapidly, and blockchain networks must keep up by utilizing forks to make codebase changes to ensure their longevity and optimal performance.
Forks split a single chain into two versions that are distinct yet run in tandem; as blockchains employ open-source coding, ideas for maintenance of the network become accessible to all users who wish to contribute suggestions for improvement.
Launching a fork has become quite the trend in the crypto ecosystem, with many opting to create new coins starting from 'scratch.'
OlympusDAO recently unveiled a range of new coins through their revolutionary forking technique, allowing developers to introduce innovative and exciting changes on an existing blockchain.
With no need to completely rewrite its codebase, OlympusDAO has achieved impressive progress in developing cutting-edge solutions within the crypto space.
OHM's success was so impressive it inspired an abundance of copycat projects. It acted as the foundation for various OHM-related endeavors due to its revolutionary approach to liquidity sharing with a more extensive network and DAO organization, motivating developers around the globe to put their spin on these ideas by creating "forks."
OHM's groundbreaking liquidity model has been a catalyst for the expansion of DeFi 2.0, and others have sought to reap the rewards from its success through imitations such as Wonderland. The TIME token released by Wonderland on Avalanche blockchain proved itself highly profitable, having attained remarkable market capitalization in no time,
The success of Olympus' native token OHM, due to its impressive liquidity protocol, has given rise to a wave of similar tokens. Yet the majority remain shrouded in mystery.
Multiple DAOs, such as OlympusDAO, Klima ADA, and Wonderland's unofficial fork of Olympus DAO, have been vulnerable to rug pulls and scams.