👩‍🚀SOS has surged more than 1,000% since its surprise Christmas Eve airdrop.

🌊OpenDAO’s SOS Token Airdrop for OpenSea Users this Christmas

It was not just Santa who was delivering gifts On Christmas Eve! Anyone who had ever spent money on OpenSea could claim a free Ethereum token called SOS, and the amount of SOS they’d get was determined by how much money they had spent on NFTs on OpenSea. 

OpenDAO🆘 @The_OpenDAO

77.78% already claimed their #$SOS The community has spoken 🆘

December 27th 2021

266 Retweets1,414 Likes

By Sunday, about 240,000 people had claimed the token, and it had skyrocketed more than 1,000% in value.

The tokens were not dropped by the popular NFT marketplace itself, but by OpenDAO, an independent decentralized autonomous organization that pledges to use some of the tokens it earmarked for itself to compensate OpenSea users for scams, and support the growing NFT industry.

Although the crypto space is saturated with airdrops and meme tokens, the drop for SOS blew up. On Christmas Day, it was the largest gainer on CoinMarketCap, with its price rising faster than DOGE after an Elon tweet. 

SOS Discord has about 50,000 members and 100,000 people are following OpenDAO on Twitter. SOS’s market cap hasn’t been a vertical green line: the token has since fallen to a market cap of $266 million, as of this writing, a 17% decrease from its all-time high. 

The number of SOS tokens you can claim depends on how much you’ve used OpenSea, the most popular marketplace for non-fungible tokens. The more you’ve traded on the platform, the more SOS tokens you can claim. 

To claim SOS, head to OpenDAO’s site, connect your cryptocurrency wallet and hit “initiate claim.” OpenDAO supports MetaMask, Coinbase Wallet, and WalletConnect.

The number of SOS tokens you can claim depends on how much you’ve used OpenSea, the most popular marketplace for non-fungible tokens. The more you’ve traded on the platform, the more SOS tokens you can claim. 

To claim SOS, head to OpenDAO’s site, connect your cryptocurrency wallet and hit “initiate claim.” OpenDAO supports MetaMask, Coinbase Wallet, and WalletConnect.

You’ll have to pay a gas fee on Ethereum to claim your tokens; the fee, denominated in ETH, will depend on how congested the Ethereum network is. But there’s no rush to claim: if you’re eligible to claim tokens, you’ll have until June 30, 2022 to do so. Unclaimed tokens will be sent to the DAO’s treasury after that date.

Once claimed, the tokens will be sent to your Ethereum address. If you’ve connected to OpenDAO with MetaMask, you can add the SOS token to your wallet by hitting the “Add SOS” button on the side of the page.

Within days of its creation, major exchanges, such as OKEx, Huobi Global and Gate.io listed the token. You can trade it on decentralized exchanges like Uniswap, or become a liquidity provider to earn a cut of transaction fees on an automatic market maker protocol. 

OpenDAO’s site claims that there will be 100 trillion total $SOS tokens. Half were designated toward the airdrop. Another 20% will be issued as staking incentives, and another 10% will incentivize liquidity providers.

Selling equity on the stock market would distribute ownership over OpenSea to wealthy shareholders rather than community members. OpenSea has since said its “intentions were misreported.”

Independent DAOs like OpenDAO could use governance mechanisms to accomplish similar things to an OpenSea governance token, like letting the community determine which projects the DAO should fund or how victims of scams should be compensated.