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Highlights
- In December, the OpenDAO, a new decentralised autonomous organisation (DAO), started to give away free tokens to the users of OpenSea, the biggest NFT marketplace.
- According to OpenDAO's Twitter bio, an anonymous user, @9x9x9eth, is the project's main contributor.
- SOS token hit a high point in a short time, demonstrating the impact of airdrops on community formation.
The crypto industry is always keen on innovations and cutting-edge technology.
In December, the OpenDAO, a new decentralised autonomous organisation (DAO) in web3, popped up out of nowhere to give away free tokens to the users of OpenSea, the biggest NFT marketplace.
The OpenDAO's founder is unknown; however, according to the OpenDAO's Twitter bio, an anonymous user, @9x9x9eth, is the project's main contributor. @9x9x9eth is also a pivotal contributor to 721DAO, a decentralised entertainment metaverse.
Data Source: OpenDAO website
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How does the OpenDAO plan to benefit users with the SOS token?
The OpenDAO and its SOS coin were created to promote, honour, and protect the NFT community.
Anyone who has made a transaction on OpenSea before 23 December can obtain free SOS tokens through the airdrop. Users just need to link a wallet like MetaMask to the OpenDAO website, calculate their rewards based on dollars spent on OpenSea and the total number of transactions, and begin claiming free tokens.
SOS has a total quantity of 100 trillion tokens, with 20% going to the DAO treasury, 50% going to OpenSea users, 20% going to staking incentives, and 10% going to liquidity.
Moreover, SOS was meant to draw favourable attention to the NFT industry. Users who qualify can claim their SOS until 30 June 2022. Unclaimed tokens will be given to the DAO treasury after that date. Developer grants, community promotion, and new artist assistance are part of the treasury's mission.
Data Source: OpenDAO website
According to OpenDAO, it plans to use its 20% stake to reimburse verified scam victims on OpenSea, promote artists and NFT groups, and give grants to developers.
Additionally, SOS is available for purchase on Gate.io. Individuals interested in purchasing cryptocurrencies might consider using a digital asset exchange such as Gate.io.
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How does the Airdrops method work?
In the NFT and cryptocurrency communities, the term "airdrop" has become quite well known.
Airdrops are a type of token distribution process that permits crypto users who have completed particular actions to grab tokens. The airdrop was open to any Ethereum address that acquired a non-fungible token (NFT) on the renowned OpenSea marketplace – a pool of over 850,000 addresses.
People appreciate free assets; therefore, airdrops have grown in popularity as the decentralised finance (DeFi) industry flourishes. Airdrops elicit enthusiasm in the community because traders are rewarded for their contributions, making it a prominent marketing tactic among traders.
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Outlook
SOS token hit a high point in short time, demonstrating the impact of airdrops on community formation.
As traders are willing to share their rewards online, OpenDAO (SOS) has quickly gained huge social momentum. Many traders never expected to be compensated for their ETH investment. The possibilities for rewarding community members are endless.
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