HadesDAO

HadesDAO was an Olympus DAO fork. Founded in July 2021, it is one of the earliest recorded Olympus forks. The developers left the project a couple months after launch and the project has remained inactive since August 2021.

Overview

Hades was designed with Olympus in mind, with the fair launch being an OHM-denominated sale. As recorded in the launch Medium:

Anybody will be able to mint alphaHADES at a price of 0.8 alphaHADES per 1 OHM. This means you are buying HADES at a 25% premium, because the protocol backs each HADES with OHM at a 1:1 ratio. To compare this to Olympus, this is like being able to buy 0.8 OHM for 1 DAI.

The project launched but never gained real traction as the original pitch as an adversary to Olympus was not well-received by the pro-Olympus cohort at the time.

The project also eventually allowed users to bond OHM and received the protocol's token HADES in return for a discount.

After amassing 361 OHM in the HadesDAO treasury, the project has since remained inactive and deleted their Twitter account and website that was formerly hadesdao.finance. HadesDAO has not returned any community funds or redistributed their treasury. Long-time Olympus DAO contributor "Z" has reported that the team tried to get the OHM out of the treasury contract to rug, but were unable to do so. The Olympus fork AsgardDAO had a similar issue with bonding, although Asgard eventually redistributed their treasury back to their holders.