OpenDAO’s SOS Token Airdrop: What You Need To Know

OpenDAO’s SOS token is up by a staggering 1167% since the Christmas Eve airdrop but in today’s altcoin news, we learn everything we need to know about the SOS token.

SOS is an airdrop from OpenDAO and it got distributed to people that spent money on OpenSea transactions and the token is up by 1167%. The project is not affiliated with OpenSea but about 200,000 wallets claimed SOS tokens and the contract has a market cap of more than $200 million. On Christmas Eve, anyone that spent money on OpenSea could claim a free Ethereum token called SOS, and the amount of SOS they would get was determined by how much money they spent on NFTs on the platform.

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

By Sunday, more than 240,000 people claimed the token and it surged 1167% in value. The tokens were not dropped by the popular NFT marketplace itself but by OpenDAO, the independent decentralized autonomous organization that pledges to use some of the tokens that it earmarked to compensate OpenSea users for scams and support. The crypto space is saturated with meme tokens and airdrops as the drop for SOS blew up. It was the biggest gainer on CoinMarketCap with the price rising faster with another altcoin.

Gate has listed $SOS along with Hotbit, BKEX, LBANK and HOO.
You can now trade 🆘 at 16 places.

Always DYOR!
Contributors will never comment on any future listings! https://t.co/u0AL6etF0v pic.twitter.com/hg8EXhJCEn

— OpenDAO🆘 (@The_OpenDAO) December 26, 2021

The claim SOS, head to OpenDAO’s site connect your crypto wallet, and hit “claim”. The site will estimate your rewards by working out how much ETH, DAI, and USDC you’ve spent on OpenSea. The figure will be compounded by a multiplier and the total will be multiplied once again by the number of transactions processed on OpenSea. OpenSea calculates how many SOS tokens to give based on the transactions before December 23 so OpenSea transactions processed after the date will not count.

In a few days of creation, major exchanges like Huobi Global, Okex, and gate.io listed the token. You can trade it on decentralized exchanges such as Uniswap or simply become a liquidity provider to earn a cut of the fees on the automated market maker protocol.  OpenDAO claims there will be 100 trillion total tokens and half were designated towards the airdrop and another 20% will be issued as a staking incentive. Two votes proposed by the project’s creator, 9x9x9 determined how the protocol will dish out the incentives.

This is conviction… @pranksy putting his ETH to work. $SOS 🆘 pic.twitter.com/wbgNAeBenS

— PatrickJames.eth 🍌 (@patrickjamesNFT) December 26, 2021

The final 20% will go to the OpenDAO protocol that will compensate the victims of the scams and also support NFT communities and artists.