OpenDAO’s Token Hits $250K in Just Four Days

December 29, 2021



In an amazing showcase of the power of airdrops in community formation, another token arrived at a pinnacle market cap of over a quarter-billion dollars ($250M) in only four days. Its market capitalization now sits at $207 million. Unclear objectives, looming security risks and a fickle market could prompt costs floating lower as interest and attention wind down, nonetheless. On Christmas, NFT brokers arose to an airdrop of SOS tokens the administration token for the recently shaped OpenDAO.

Airdrops is a Token Distribution Method

Airdrops are a token distribution method that permits crypto clients who have performed specific activities to claim tokens. For this situation, the airdrop applied to any Ethereum address that bought a non-fungible token (NFT) on the famous OpenSea marketplace – a likely pool of in excess of 850,000 addresses. All things considered, OpenDAO has no relationship with OpenSea besides targeting its client base with an airdrop.

As per a Dune Analytics dashboard, up until this point, almost 275,000 addresses have claimed the airdrop, with the median claim worth $125 at current costs. Numerous prolific collectors detailed claims in the four-and five-figure range, and the specific math used to compute claim amounts hasn’t been uncovered.

50% of the Token Supply is in the Hands of Core Group

Half of the token supply is in the possession of three addresses constrained by the core group. The DAO has held two votes for token holders, including one to start a staking program that will produce rewards more than a one-year time frame and one for a liquidity mining program that will reward liquidity suppliers north of a two-year duration.

Notwithstanding the token’s limited utility, core contributors have been effective on the business development front. In the project’s Discord channel, contributors have announced a constant flow of partnerships with various wallets and marketplaces.


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