OpenDAO (SOS) – new project airdrop token for OpenSea users

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2021-12-28 16:14:16

On the morning of December 25, the NFT investment community in the cryptocurrency industry is “spreading” a new project called OpenDAO (SOS).

OpenDAO (SOS) – new project to airdrop tokens for OpenSea users

Based on the information CHK obtained from the project’s website, OpenDAO affirms that they are an initiative to issue tokens to reward the NFT community and those who have been with this field since the early days.

Therefore, OpenDAO will airdrop the project’s token, named SOS, to people who already use OpenSea – the world’s largest NFT marketplace platform.

Specifically, the number of SOS tokens airdrop will depend on the amount of cryptocurrency (ETH, DAI, USDC) that the user has spent on OpenSea in the past multiplied by a factor of 0.7 and plus the number of transactions made on OpenSea multiplied by a factor of 0.7. with 0.3.

OpenDAO’s SOS airdrop calculation criteria

To receive the airdrop, users only need to connect their wallet to OpenDAO’s website. Eligible users will be able to participate in receiving tokens from now until June 30, 2022.

SOS is a token issued on Ethereum with a total supply of 100 trillion units. In there:

  • 50% will be used to airdrop to OpenSea users;
  • 20% as a staking reward;
  • 20% is retained by OpenDAO for project development; and
  • 10% as a reward for liquidity providers.

OpenDAO claims to use 20% of the total supply of SOS they have to continue to encourage the development of the NFT array, including activities such as:

  • Compensation for victims of scams on OpenSea;
  • Support emerging NFT artists;
  • Supporting NFT communities;
  • Support art conservation activities;
  • Create sponsorship programs for the SOS ecosystem.
OpenDAO’s SOS Token Allocation

According to CHK’s assessment, OpenDAO’s ambition with SOS token is to be able to become the official currency for OpenSea when this marketplace has “recognized” that it will hold an IPO in the US instead of issuing tokens. Even so, the success of SOS will depend a lot on the NFT investment community, because OpenDAO’s development plan is still quite sketchy and doesn’t have many breakthroughs other than the token airdrop, as well as the project has no “real rights” to manage OpenSea.

Another point of concern is that OpenDAO also does not mention the future use of the SOS token. Despite the name of a DAO organization, the community cryptocurrency project segment that has received a lot of attention in recent years with such famous names as ConstitutionDAO, but the project does not promote the work of the community. whether the SOS token represents the right to participate in the governance organization for OpenDAO.

However, the first step of OpenDAO can be said to be successful, when it has only been launched for less than 48 hours, the number of SOS holders has surpassed the number of users of Ethereum Name Service (ENS), a successful NFT project in the world. Ethereum.

According to CoinMarketCap, SOS tokens are being traded on Uniswap v3, SushiSwap, DODO and MEXC exchanges, with a 24-hour trading volume of $94 million. The SOS token price is increasing by nearly 500% at press time.

SOS price chart at 10:15 AM on December 25, 2021, according to CoinMarketCap

Synthetic CHK

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