December 24th 2021, the OpenDAO has launched their $SOS token, of which 50% of the 100 trillion supply is claimable for FREE - for users of the OpenSea NFT marketplace until June 30, 2022, after which any remaining tokens will be sent to the DAO treasury. The $SOS token is trending on the NFT communities on discord and twitter as some users share screenshots of their claimable $SOS token tradeable for more than 10ETH at the time. If you are a user of OpenSea, you can check your claimable $SOS token by visiting theopendao.com and connecting your wallet. Be sure to DYOR when connecting your wallet to websites.
The tokens claimable to OpenSea users is weighted based on the user's activities. 70% is based on the amount spent on OpenSea, with the remaining 30% weighted by number of transactions.
The remaining 50% of the overall token supply is divided as such: 20% to staking incentive, 20% to OpenDAO treasury, and 10% to LP incentives. The website describes the token for the largest NFT community, to pay tribute, to protect, and to promote. The OpenDAO treasury is claimed to be used to compensate verified scam victims on OpenSea with $SOS, support emerging artists and their original work, support NFT communities, support art preservation, and developer grant for participating in $SOS ecosystem.
Who is behind OpenDAO and the hype?
The token has gained traction as it has traded from CAD$0.0000018 to a high of $0.00001419 as of this writing, a 688.33% increase within a day since launch. There have been speculations and questions in the community surrounding this token and the airdrop, as there should be with any free airdrops. In my personal opinion, this OpenDao is in response to OpenSea's opting for a IPO instead of an airdrop to the community in a decentralized fashion like ENS, Uniswap, etc have done. Others have called it a true NFT community movement due to the lack of support for an OpenSea support system. OpenDao is community based as it is dropped to the users of OpenSea with plans of staking and governance, something OpenSea should have done themselves. As of this writing, examining the $SOS contract, there are 142,152 holders. If you are interested in learning more, join their opendao discord community
Anyone who has made a transaction on OpenSea is eligible for the airdrop. A few pointers if you plan to claim the tokens: 1. Be skeptical about claiming random airdrop tokens and check the link to make sure it is the official link/contract you are interacting with. 2. Check if the amount is even worth claiming; if you didn't do much transactions in OpenSea then it may not be worth claiming as you will have to pay transaction fees when claiming/selling. If you are active in the NFT community and OpenSea then enjoy the $SOS drop, and if not: have a Merry Christmas and Happy Holidays from us at WealthWithCrypto!
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