On the 24th, a project named OpenDAO quietly launched-SOS token airdrop project. It also announced that it will airdrop token SOS to all interactive users on the NFT trading platform Opensea. Users who have previously traded in OpenSea can receive it, and the token share that users can obtain is related to the number of transactions and the amount of money spent by users in Opensea.
In short, this is an airdrop project to users for Opensea, which has previously announced that it may go public and has been criticized for not being Web 3.0.
In the next day, the project received many encrypted KOL attention and likes on Twitter, including Dogecoin founder BillyM2k, NFT collector Pranksy (the first person in the NFT market revenue list), and Zhu Su, founder of Three Arrows Capital, etc. Wait.
As the project became more and more popular in the community, the price began to rise, and users who initially had insufficient tokens to pay for GAS began to receive it actively. At 9 o’clock in the evening, Matcha MEXC launched SOS first, and some small trading platforms followed suit, pushing prices to soar further. Kucoin also posted that it has paid attention to SOS and hinted that it will be launched soon.
In the past 24 hours, the SOS price has risen to 0.000008 USDT. The current average price remains at 0.000007 USDT, which is more than 30 times higher than the initial price. As of now, more than 100,000 addresses have received SOS token airdrops, and 52.16% of the airdrop tokens The coin has been claimed. The number of addresses far exceeds that of ConstitutionDAO (16,779) and ENS (60,119) that were on fire before. According to Uniswap data, the 24-hour trading volume of SOS has exceeded 130 million U.S. dollars.
What is OpenDAO? What is the economic model of the SOS token airdrop project?
It is reported that OpenDAO is a project initiated by the NFT ecological decentralized organization @721DAO. Its main sponsor, contributor, and senior NFT player “9x9x9” initiated the project. 9x9x9 also tweeted to confirm this. At the same time, 721Dao is also in the community Zhong said that it will invest 100 million US dollars in the construction of SOS ecosystem.
According to the official website, the original intention of SOS tokens was to thank all NFT creators, collectors and markets for nurturing the entire NFT ecosystem, especially OpenSea for its leadership in promoting NFT transactions. “In order to pay tribute, we chose OpenSea collectors for our airdrop.”
The specific number of airdrops is determined by the total number of transactions and the funds spent (ETH, DAI, and USDC). The former weights 30% and the latter 70%; at the same time, users must claim the SOS token before June 30, 2022 , Otherwise it will be disqualified.
According to the plan, the total number of SOS is 100 trillion, of which 50% are used as airdrops, 20% are used as staking rewards, 10% are used as LP rewards, and the last 20% is reserved for OpneDAO. OpenDAO will use this 20% to compensate verified victims of fraud on OpenSea, support emerging artists and their original works, support the NFT community, support art preservation, and participate in developer grants for the $SOS ecosystem.
This generation of token distribution mechanism has also been questioned by the community. Some people believe that in addition to the airdrops to be applied for, OpenDAO still holds at least 50% of the tokens. There is no lock-up time and there is a risk of cashing out.
In this regard, the promoter “9x9x9” said that he is free to work for @The_OpenDAO, and the SOS tokens he currently has he bought by himself. “But you know I’m not for money, otherwise, I would buy it within the first hour (of issuing coins) instead of 10 times (time to buy).”
Full transparency: I m working for @The_OpenDAO without getting paid, at least for now, the only way for my financial gain will be by buying $SOS for myself and working my ass off. but you know I m not in to for the money, otherwise, I will buy it in the first hour, not at 10x. pic.twitter.com/PbbPWrrywN— 9x9x9???????? (@9x9x9eth) December 25, 2021
According to the latest official data, more than 52% of airdrop tokens have been claimed, totaling more than 102,000 addresses.