What is $SOS the token dropped by The Open DAO?
A Christmas Eve Surprise for many NFT Collectors, The OpenDAO (SOS) launched a token that was claimable by any wallet that has transacted on OpenSea. What started as essentially an early airdrop that collectors could quickly flip for a little extra ETH became parabolic and by the morning of the 25th had jumped as much as 1500%. From there, sites including Kucoin and others made it available for pairing between major currencies allowing speculators and collectors access to the token at a record pace. This drop comes on the heals of the massively successful $ENS drop earlier this year and symbolizes a new type of momentum being created for organizations looking for new ways to capitalize in the DeFi / NFT / Web3 arena. As of this morning, over 150K wallets have already claimed their $SOS Token.
$SOS Token Surprise
The popular twitter influencers @9x9x9 is associated with the project and claims they are working on the project for free with hopes of building this into something massive. What is interesting is that there was no public or private sale of the token ahead of the launch. It was only claimable via airdrop. Additionally, no Venture capital had access to reserved tokens.
Potential future for the OpenDAO and $SOS
There are a myriad of potential opportunities for OpenDAO and SOS. The most discussed at this point is an OpenSea competitor that uses the commission from sales to buy and burn $SOS allowing deflation on the token which would increase it’s value and price for long term holders over time. Additionally, the token is being speculated for:
- Governance
- Early Adoption
- Exclusive Access
- Whitelists
- Other NFT / Web 3 opportunities
As of this writing the following platforms provide access to the $SOS Token
- Kukoin
- Bitforex
- Zapper
- MEXC Global
Due to popularity the website is currently down. We will update this article as more information arrives.
$SOS Distribution
$SOS is grateful to all NFT creators, collectors and markets for nurturing the entire NFT ecosystem. Special thanks go to OpenSea for its leadership in promoting NFT trading. To pay tribute, we have chosen OpenSea collectors to conduct our airdrop.
The distribution is based on the total number of transactions (30% weight) and transaction volume on ETH, DAI & USDC (70% weight) on OpenSea. Users have until June 30, 2022 to claim their tokens, after which any remaining tokens will be sent to the DAO treasury.
- 50% airdrop to OpenSea users
- 20% Staking Incentive
- 20% OpenDAO
- 10% LP incentives
