<p><span data-preserver-spaces="true">Late last week, a new decentralized autonomous organization (DAO) called the OpenDAO suddenly emerged to distribute free tokens to users of OpenSea, the largest NFT marketplace.</span></p> <p><span data-preserver-spaces="true">According to its </span><a class="editor-rtfLink" href="https://www.theopendao.com/" target="_blank" rel="noopener"><span data-preserver-spaces="true">website</span></a><span data-preserver-spaces="true">, the goal of the OpenDAO (not to be confused with a stablecoin minting protocol by the same name) and its SOS token is "to pay tribute, to protect, to promote" the NFT community. </span></p> <p><span data-preserver-spaces="true">Specifically, anyone who has transacted on OpenSea before December 23 can claim free SOS tokens via the airdrop. All they have to do is connect a wallet like MetaMask to the OpenDAO website, estimate their rewards based on the total number of transactions and dollars spent on OpenSea, and initiate their claim for free tokens.</span></p> <p><span data-preserver-spaces="true">The total number of transactions has 30% weight, and transaction volume in ETH, DAI, and USDC has 70% weight for token distribution, according to the OpenDAO's website. That means the more money spent on transactions, the more SOS tokens one would get.</span></p> <p><span data-preserver-spaces="true">The total supply of SOS tokens is 100 trillion, and 50% of it will be airdropped to OpenSea users. From the rest 50%, 20% will be kept for the DAO itself, 20% for staking incentives, and 10% for liquidity provider incentives, the website says. </span></p> <p><span data-preserver-spaces="true">OpenSea users have until June 30, 2022, to claim their tokens, after which any remaining tokens will be sent to the DAO's treasury. </span></p> <p><span data-preserver-spaces="true">OpenDAO says it will use its 20% share to compensate verified scam victims on OpenSea, support artists and NFT communities, and provide grants to developers. </span></p> <p><span data-preserver-spaces="true">Over 200,000 users have </span><a class="editor-rtfLink" href="https://dune.xyz/0xroll/OpenDAO" target="_blank" rel="noopener"><span data-preserver-spaces="true">already claimed nearly 39 trillion SOS tokens</span></a><span data-preserver-spaces="true">, an amount currently worth almost $265 million. The SOS token has already been listed on major crypto exchanges, such as OKEx and Huobi. It is currently trading at <a href="https://www.coingecko.com/en/coins/opendao">$0.00000680</a></span><span data-preserver-spaces="true">. </span></p> <p><span data-preserver-spaces="true"><img class="alignnone size-full wp-image-128582" src="https://www.tbstat.com/wp/uploads/2021/12/image-1.png" alt="" width="2844" height="1366" /></span></p> <h2><strong><span data-preserver-spaces="true">Who is behind the OpenDAO?</span></strong></h2> <p><span data-preserver-spaces="true">While the SOS airdrop is for OpenSea users, the marketplace itself doesn't have anything to do with the distribution.</span></p> <p><span data-preserver-spaces="true">"We're getting a lot of questions and want to clarify that we are not involved with the SOS drop," </span><a class="editor-rtfLink" href="https://twitter.com/opensea/status/1474802522304831489" target="_blank" rel="noopener"><span data-preserver-spaces="true">OpenSea tweeted</span></a><span data-preserver-spaces="true"> on Saturday. "We love seeing the community find creative ways to drive the space forward, but we always recommend researching the contract and the source before claiming tokens."</span></p> <p><span data-preserver-spaces="true">It is not clear who founded the OpenDAO, but its core contributor is the anonymous user @9x9x9eth, according to </span><a class="editor-rtfLink" href="https://twitter.com/The_OpenDAO" target="_blank" rel="noopener"><span data-preserver-spaces="true">OpenDAO's Twitter bio</span></a><span data-preserver-spaces="true">. Within four days of its Twitter presence, the OpenDAO account has gained nearly 125,000 followers, and @9x9x9eth has amassed almost 45,000 followers since joining Twitter in September 2021. </span></p> <p><span data-preserver-spaces="true">@9x9x9eth is also the core contributor of 721DAO, which is aiming to create a decentralized entertainment metaverse. The Block reached out to @9x9x9eth for comments on this story, but they did not respond before press time. </span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>