OHM fork: What happened to the original Olympus token and what replaced it
When the OHM fork, a chain split from the original Olympus DAO protocol that created new tokens claiming to be the true successor. Also known as Olympus v2, it was meant to fix the token’s collapsing price and broken incentives—but it ended up creating more confusion than solutions. The original OHM token, launched in 2021, promised users daily rewards by staking and bonding. It grew fast, then crashed harder. By 2023, its value had dropped over 95%, and the community split. Some believed the solution was a hard fork. Others saw it as a scam waiting to happen. The truth? Most OHM forks are empty shells. Only a few have real code, real teams, and real users.
What makes an OHM fork different from the original? The original Olympus DAO used a bond mechanism to control supply and stabilize OHM’s price. When that system broke, new versions tried to fix it with new tokens like OHMv2, OHMv3, or even OHM on other chains like Arbitrum or Polygon. But here’s the catch: none of these are officially backed by the original team. The real Olympus DAO team moved on to new projects like Olympus Pro and Olympus V3, leaving most forks to be run by anonymous groups with no accountability. You’ll see posts claiming "OHM is coming back" or "Claim your free fork tokens"—those are almost always phishing traps. Real OHM tokens are traded on a handful of DEXs with low volume. Any airdrop or presale promising OHM is likely stealing your wallet.
Why does this matter now? Because the same mistakes are being repeated. New DeFi projects still copy Olympus’ staking model without understanding why it failed. They promise high APYs, ignore tokenomics, and vanish when the hype dies. The OHM fork isn’t just a story about one token—it’s a warning label for the whole DeFi space. If a project’s main selling point is "earn 1000% daily," run. If it has no audit, no team, and no clear use case beyond staking, avoid it. The few OHM forks that survived do so because they built real utility—like governance tools or cross-chain bridges—not just reward calculators.
Below, you’ll find real reviews and breakdowns of what actually happened with OHM and its forks. No fluff. No promises. Just facts about which tokens still have value, which are dead, and how to spot the next fake before you lose money.