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About OpenDAO
Key Points:
- OpenDAO aims to become a central asset for the metaverse and Web3.
- SOS token launched on Christmas Day 2021 via an airdrop to NFT users on OpenSea.
- Goal is to pay tribute to NFT creators, collectors, and marketplaces, and nurture the NFT ecosystem.
- Founders include 9x9x9.eth, an anonymous DeFi power user and influencer on Crypto Twitter.
- OpenDAO aims to replace permissioned marketplaces like OpenSea with a digitally native community.
- 20% of treasury allocated to compensate verified scam victims on OpenSea with SOS.
- Total supply
About OpenDAO: Empowering a Decentralized Future
Introducing OpenDAO (SOS): A Revolutionary Decentralized Ecosystem
OpenDAO, self-proclaimed “token of the metaverse,” aspires to become a pivotal asset in the realms of metaverse and Web3, akin to the stature of stablecoins like USDC. Following a Christmas Day 2021 airdrop, OpenDAO launched its SOS token, targeting all users who had engaged in NFT transactions on OpenSea, whether buying, selling, or trading. The avowed objective was to establish a means of paying homage to NFT creators, collectors, and marketplaces, thereby fostering a thriving NFT ecosystem.
OpenDAO endeavors to instill intrinsic value in its token by empowering users to create NFTs using SOS, facilitating the exchange of NFTs for SOS on decentralized marketplaces, and integrating it as a governance token in various games and projects.
The Visionaries Behind OpenDAO: Meet the Founders
Among the core contributors to OpenDAO is the esteemed 9x9x9.eth, a renowned DeFi connoisseur and influential voice on Crypto Twitter. He is backed by a cohort of “like-minded contributors,” although, as a decentralized autonomous organization (DAO), OpenDAO remains open to contributions from anyone.
Unveiling the Unparalleled Attributes of OpenDAO
OpenDAO fundamentally seeks to supplant traditional, permissioned marketplaces like OpenSea with a digitally native community that is organically built by users, for users, as envisioned by the project.
At the heart of OpenDAO’s mission lies a steadfast commitment to empowering emerging artists and their original creations, as well as providing support to NFT communities in realizing their vision. Furthermore, OpenDAO has taken a significant step by allocating 20% of its treasury to provide restitution to verified scam victims on OpenSea, a testament to its grassroots origins within the web3 community.
The project is presently in its development phase, with utility firmly anchored around the SOS token and the staking rewards it yields.
OpenSAO envisions the creation of the largest decentralized autonomous organization (DAO) in the Web3 and NFT realms, with a mission to establish a thriving ecosystem that empowers developers and marketers through grant allocations, while fostering a culture of creator curation.
Furthermore, OpenDAO pledges the introduction of Mintstarter, a development that will unlock additional utility for the SOS token and, ostensibly, serve as a premier platform for newly minted NFTs.
Notably, SOSMarket is poised to emerge as the DAO’s response to OpenSea, functioning as a decentralized and permissionless NFT marketplace alternative where users can seamlessly exchange their NFTs for SOS.
SOS Chain is poised to revolutionize the NFT trading landscape with an EVM-compatible experience that eliminates gas fees altogether, akin to the layer-two scaling solution pioneered by Immutable X. Furthermore, SOS plans to establish a bridge and decentralized exchange (DEX) on its proprietary chain, thereby facilitating seamless connectivity with other blockchain networks and enabling the effortless migration of assets across disparate blockchain ecosystems.
What Is the Circulating Supply of OpenDAO (SOS) Coins?
The total supply of SOS is capped at 100 trillion, with a fair launch mechanism that eschewed founder allocations. The distribution strategy entailed allocating 50% of the total supply via airdrop, while 20% was reserved for staking incentives, 20% was allocated to the treasury, and 10% was designated for liquidity pool incentives.
By staking their airdropped tokens, token holders can earn veSOS, thereby granting them full voting privileges within the DAO. As a governance token, veSOS auto-compounds until unstaked, with staking rewards distributed linearly over a one-year period.
The OpenDAO Network’s Security Mechanisms: A Robust Framework
SOS debuted as an ERC-20 token on the Ethereum network. While the project has yet to divulge specifics regarding its forthcoming SOSChain, the community eagerly awaits insight into how this development will shape the future of its token.
Ethereum’s robust security is ensured by a proof-of-work consensus mechanism, which necessitates the mining of new Ether by miners. A network of decentralized nodes is responsible for validating transactions and safeguarding the integrity of the Ethereum blockchain.
Where to Acquire OpenDAO (SOS): A Comprehensive Guide
SOS is proudly listed on esteemed cryptocurrency exchanges, including OKEx, Uniswap V2, Huobi Global, KuCoin, and Bybit.
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