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Here’s a good news ! If you’ve ever used the Opensea platform to buy or sell an NFT (Before December 23rd, 2021), you can now claim SOS tokens from the OpenDAO Airdrop ! Your reward will be according to the number of transaction you’ve completed. Find all the details below in order to know how to redeem your tokens !
What’s OpenDAO ?
OpenDAO is a project that was initiated by core contributor 9x9x9.eth and a bunch of likeminded contributors. Not ran by any centralized organization and governed by $SOS tokens, it is exclusive to its holders, allowing them to vote on proposals on what the Decentralized Autonomous Organization (DAO) will do with the treasury. It has been established in order to celebrate, protect and promote the non-fungible token (NFT) industry and its people. In addition, this project would like to thank all NFT creators, collectors and marketplaces for bringing this new industry to the forefront.
OpenSea users from before December 23rd, 2021 are able to claim a free airdrop for $SOS due to the many OpenSea rugs and high gas fees. Although the airdrop is related to OpenSea users, OpenDAO is not affiliated to this platform.
SOS Tokens goal.
SOS token aims to be placed in a DAO (20% of the total supply, voted by $SOS holders on snapshot how to use the fund), to compensate verified scam victims on OpenSea with SOS, to support emerging artists and their original work, support NFT communities, to support art preservation, and to create a developer grant for participating in $SOS ecosystem.
How to claim your SOS tokens ?
To claim your tokens, you must go to the OpenDAO website and connect your Metamask wallet or other (the one you used for your transactions on Opensea of course).
The website will then estimate your reward according to what you have deposited on the platform. There is a multiplier, which can make a nice amount.
Remember that all transactions made after December 23, 2021 do not count. You will have to pay gas fees on Ethereum to claim your tokens.
Note that you have until June 30, 2022 to claim them and those that are not will be returned to the DAO treasury after this date.
Once you click on “claim” then the SOS tokens are immediately added to your portfolio. Don’t forget to add the SOS token so that it appears on your wallet.
What to think of this SOS token ?
This aid surprised a lot of people because it is not officially linked to the Opensea platform. This did not prevent the token from gaining 1000% in two days and from being listed on the majority of platforms.
It is indeed found on Okex, Huobi Global, Uniswap, Gate.io, Bybit, Kucoin, Frontier, BitForex, Sushiswap, MEXC, DODO, LBank, Hoo, Hotbit and CoinW (As of December 26th, 2021). This means that once you receive your tokens, you can exchange them for any crypto of your choice on an exchange.
The main developper ( 9x9x9.eth ) announced that he had not been paid or hired by Opensea to create OpenDAO.
SOS token tokenomics.
You know, just because the token is sent for free doesn’t mean you have to rush over it. It’s always good to analyze the basics. The OpenDAO site says there will be exactly 100,000 billion SOS tokens in total. Half were paid in aidrops. There are 20% more tokens that will be used for staking and 10% more for liquidity providers. Finally, 20% will go to the treasury of the OpenDAO protocol.
This is a protocol that wants to somehow compensate victims of NFT scams like those who bought the NFT Evolved Apes, for example. Likewise, the protocol wants to support and help real artists to carry out their projects.
One can wonder if the project is legitimate. Some developers have looked at the code and some have found issues and bugs, but nothing abnormal in the smart contracts. Some said the amounts were random …
The bulk of the decisions are made on Discord, and the community has voted for a 30% token lockdown for at least a year, avoiding rugpulling and other financial twists and turns.
Having said that, we are not sure if the project can be sustained over the long term, as we have not seen a roadmap or anything of your kind. The developer still assured that this was the goal, to make it an absolutely collective project with decisions taken by vote.
Final word on OpenDAO.
What may surprise again is the bogus link with OpenSea. It’s a platform and a company, not a protocol. We even heard the CFO wanting to list OpenSea on the stock market, for example. This would make the shareholders more fortunate than if they dispersed everything among the users. Thus, the platform does not really have any interest in being fully decentralized.
Unfortunately, none of us are eligible to this airdrop but we can congratulate OpenDAO’s intention and effort to clean up the ever crazier NFT market.
Disclaimer: All details found on this post, and more generally on this website (neverfomoagain.com) are for informational purposes only. I don’t provide any financial advices. Please, Do your own research before undertaking to any investment/trading actions.