The first Fantom OHM fork to go cross chain: FantOHM launches on Moonriver
We have some BIG news. FantOHM has gone cross chain. We are now the first Fantom fork to go cross chain, and we couldn’t be more excited to be launching on the one-and-only Moonriver, the incredibly popular parachain on the Kusama network.
Strap in folks, the game has been changed. With seamless cross chain capability between Fantom and Moonriver a door has been opened. New ecosystems including Kusama and Polkadot and all the possibilities of interoperability awaits. Let’s dive right in.
An OHM for with a REAL difference
DeFi 2.0 and OlympusDAO forks have been all the rage for the past few months, but with so many carbon OHM fork copies, it can be hard to tell what the difference is between them. The truth is, for the vast majority of OHM forks, there is absolutely nothing innovative or new about them — they are merely trying to ride the hype of DeFi 2.0 instead of putting their efforts towards innovating and improving OlympusDAO’s model.
FantOHM is not one of these projects, and with our new launch on Moonriver, there’s no longer any doubt — FantOHM is doing what few others will. And the best part? It’s just the beginning.
The need for interoperability
Interoperability has been one of the major obstacles of the cryptocurrency industry as a whole. In order to make the experience of using blockchains and crypto easy enough for the everyday person, projects and platforms have had to pay great attention to their UI and the simplicity of their products. While some blockchains and platforms have achieved an impressive level of user-friendliness, it is a fatal flaw that blockchains can’t connect with each other.
Users new and old commonly find that they are stuck on one chain and need to access a service on another. Bridging and routing is hardly straightforward for the average person, and can present tricky situations for even the veterans among us.
Interoperability between blockchains is a crucial step that will take crypto to the next level — and the projects that achieve interoperability open up a world of possibilities and potential innovation and will inevitably attract users and investors in a way that single-chain projects can only dream of.
But let’s get down to what this launch on Moonriver actually means.
What will users be allowed to do?
Along with entering uncharted territory as the first Fantom OHM fork to cross chain (not something seen amongst OHM forks in general), users of FantOHM will now be able to seamlessly bridge to the Moonriver ecosystem, gaining access to a range of benefits, including:
- An effortless bridging of assets and most importantly stablecoins
- Exposure to the appreciation of Moonrivers native tokens
- Insanely high APRs on Moonriver due to badly needed liquidity
- Access to the all the assets and possibilities on Moonriver’s rapidly growing ecosystem
- A rising demand for the FHM token and thus the price of FHM
- A bridged FHM token via Wanchain to Moonriver as FHM.m
- Access to the liquidity of Huckleberry over on Moonriver (The founder of Huckleberry is a FantOHM supporter and is highly active in our Telegram)
- A seamless UX on both chains, with global, unified values
- APR and Yield farming opportunities not found anywhere else
- A bridge into the world of Moonriver and thus Kusama and Polkadot
You’ve probably heard of Moonriver. And there’s a reason why. Moonriver is the eminent parachain on Kusama, helping crypto projects expand their reach to new users and markets with a state-of-the-art multi-chain approach.
There’s several reasons we chose Moonriver:
Transaction Volume & Usage
Moonriver is the most adopted parachain on the Kusama network. It has 60+ live integrations, 195k+ wallets and 2k+ ERC-20 tokens. It’s also got the highest market cap of all parachains on Kusama and literally thousands of enthusiastic users waiting for new projects, just like FantOHM, to arrive.
Market Cap & TVL
Moonriver has the highest fully diluted market capitalization of all parachains on Kusama, and the largest amount of total value locked (TVL). As far as parachains and upcoming networks go, Moonriver is hard to beat in terms of both quality and adoption.
A gateway to Kusama and Polkadot
Many top DeFi projects are choosing to deploy on the Moonriver smart contract platform as it is a perfect and manageable way to reach Kusama and Polkadot’s users, assets and ecosystem.
By bridging our Fantom native project to these 3 networks, we open the doors to a huge new pool of potential users, many of which have been waiting for something like this to happen. Moonriver shares and benefits from the security, scalability, interoperability and governance of Kusama, which is an added bonus.
Cross chain liquidity through Huckleberry
Huckleberry, an immensely popular community driven AMM crosschain DEX built on Moonriver that makes use of WanBridges’s decentralized, cross chain compatibility, will be utilised for our liquidity over on Moonriver.
The founder of Huckleberry, who is widely respected in the industry, is also a big supporter of the project and is personally active in our Telegram — a sign that this project has big things on the horizon.
First mover advantage
Moonriver is a key piece of the Polkadot/Kusama ecosystem and very few OHM forks are compatible with it. Having the first mover advantage is huge in crypto, and as the first Fantom OHM fork to go cross chain and take advantage of the massive user base on Moonriver, this is a huge plus for us. We will be minting tokens on Moonriver as we are doing on Fantom and we have also bridged the FHM token via Wanchain to Moonriver as FHM.m.
A diverse network
While Moonriver does appeal to more experienced crypto users, there are literally thousands of people sitting there right now ready for a Fantom cross chain OHM fork to connect them with the rest of the Fantom ecosystem.
Additionally, Moonriver is primed for growth as it serves a wide range of users, including game developers, e-commerce companies, banks, investment banks, governments, investment companies, insurance companies, software companies, central banks, and cryptocurrency developers.
It’s also a perfect place for governments to test smart contracts before deploying them in the real world. Not only does this open up FantOHM to a diverse crowd of people, but we see Moonriver as one of the platforms most likely to see significant and consistent growth in the future.
An exciting cross chain future awaits
The future is bright indeed. With the new world of possibilities that our cross chain capabilities bring, there is no telling what FantOHM will accomplish from here. Our dream of becoming a sustainable decentralised reserve asset is becoming more achievable every day, and with our community steadily growing, we have every reason to be excited.
In the world of OHM forks, it usually takes projects a bit of time to differentiate themselves from the original OlympusDAO model and define their own unique trajectory. FantOHM has done this incredibly early on and now that we are part of the Moonriver (and friends) ecosystem, we will continue to prove why we are a project worth watching.
The road ahead
Volatility is to be expected in the early stages of even the most promising projects — it can even be a good thing, opening the possibility to pick up FHM at a discount or to attract new investors looking to profit off price swings. The network is currently tuned for expansion of FHM supply, which when paired with the staking, bonding, and yield mechanics of FantOHM, result in a fair amount of volatility.
What we need to remember is that our fundamentals are incredibly strong, our devs are world-renowned, our community is knowledgeable and engaged, and we are now a cross chain OHM fork that unites two of the most promising ecosystems in crypto. And this is just the beginning.
We have a long way to go, but we are well and truly on our way. Stay tuned and expect more BIG things to come.