In Brief:
- In a community driven project, OpenDAO has airdropped $SOS tokens.
- Anyone who has spent money on OpenSea can claim this free Ethereum $SOS token.
- Users can claim their tokens until June 30, 2022.
On December 24, OpenDAO announced that anyone who had ever spent money on OpenSea can claim a free Ethereum token called ‘$SOS’, and the amount of SOS tokens one can get was based on how much money they had spent on NFTs on OpenSea.
As a part of its community driven project, OpenDAO has stated that the aim of this project is to nurture the entire NFT ecosystem. It added that $SOS is grateful to all NFT creators, collectors, and markets too. Thanking OpenSea for ‘its leadership in promoting NFT trading’, OpenDAO has chosen OpenSea collectors to conduct the airdrop.
As per the DAO’s website, 50% of these $SOS tokens will be distributed to all addresses that have traded on OpenSea since day one.
The snapshot was taken on 23 Dec 2021 at 12:00 (UTC) at block 13858107. Users can claim their tokens until June 30, 2022, and after that, any remaining tokens will be sent to the DAO treasury.
It is further explained that the distribution is based on the total number of transactions (30% weight) and transaction volume on ETH, DAI & USDC (70% weight) on OpenSea.
However, it is worth mentioning that OpenSea has clarified on Twitter that they are not involved with the SOS drop.
The website also explains the distribution of the remaining 50% of the tokens. Thus, 20% of the tokens will be kept aside as Staking Incentive and 20% will be for the DAO community. The last 10% will be allocated for Liquidity providers.
As for the amount of tokens that will be allocated for the community, a part of it will be used to help compensate verified scam victims on OpenSea, to support emerging artists and their works. Some of it will be used to support NFT communities, support art preservation and some part of the amount will be used as grants for developers participating in the $SOS ecosystem.
Also, the rise of interest and the popularity of OpenDAO and its SOS token points out the fact that the community might show similar excitement for an NFT focused decentralized project.
The data from CoinGecko suggests that the project’s market cap has reached $294 million (at the time of writing) thanks to the sensational surge witnessed overnight. As per the data revealed by Etherscan, that SOS has over 203,058 holders and that number could increase as more users start to claim their airdrops.
Recently, another popular DAO called FreeRossDAO had airdropped $FREE tokens to control its $5.5M treasury.
