OpenDAO price

SOS

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OpenDAO essentially aims to replace permissioned marketplaces like OpenSea with a digitally native community that is built by users for users, according to the project.

One cornerstone is OpenDAO’s mission statement, which promises to support emerging artists and their original work and help NFT communities with implementing their roadmaps. OpenDAO also allocated 20% of its treasury to compensate verified scam victims on OpenSea with SOS, true to its statement of being a grassroots initiative by the web3 community.

The project is currently in the building phase, and utility is strongly centered around the SOS token and staking rewards that it brings.

OpenSAO aspires to build the largest DAO in the Web3 and NFT space and launch an ecosystem that hands out grants to developers and marketers alongside creator curation.

Furthermore, OpenDAO promises the launch of Mintstarter, which will entail more utility for the SOS token and will presumably be a launchpad for newly minted NFTs.

Then there is SOSMarket, which will allegedly be the DAO’s answer to OpenSea as a decentralized and permissionless NFT marketplace alternative that allows users to trade their NFTs for SOS.

SOS Chain will be an EVM-compatible NFT trading experience with zero gas fees and is likely to be akin to a layer-two scaling solution like Immutable X. Lastly, SOS promises to build a bridge and a DEX on its SOS chain, thus connecting it with other blockchain and allowing the seamless migration of assets between blockchains.

The total supply of SOS is 100 trillion. It was issued through a fair launch that left no tokens allocated to founders. 50% of the total supply was distributed via airdrop, with 20% being reserved for staking incentives, 20% going to the treasur, and 10% for liquidity pool incentives.

Token holders can stake their airdropped tokens and receive veSOS in return, giving them full voting rights within the DAO. veSOS thus serves as a governance token and auto-compounds until it is unstaked. Staking rewards are released linearly over one year.

SOS was launched as an ERC-20 token on Ethereum. The project is yet to release details on its planned SOSChain and how it will affect the future of its token.

Ethereum is secured by a proof-of-work consensus mechanism that requires miners to mine new Ether. A set of decentralized nodes validates transactions and secures the Ethereum blockchain.

Check out Ultra (UOS) — a gaming ecosystem and launchpad.

Check out Immutable X (IMX) — an NFT-focused layer-two solution.

Check out our deep dive into OpenDAO.