OpenDAO

OpenDAO, represented by the SOS token, is a project that positions itself as "the token of the metaverse". It aims to become a central asset for the metaverse and Web3, akin to stablecoins. Launched on Christmas Day 2021, OpenDAO's SOS token was distributed to users who had interacted with NFTs on the OpenSea marketplace. The project's objective is to honor NFT creators, collectors, and marketplaces, and to foster the NFT ecosystem. OpenDAO aims to build utility for its token by enabling users to mint NFTs with SOS, trade NFTs for SOS on permissionless marketplaces, and use it as a governance token in games and projects.

OpenDAO operates with the aim of replacing permissioned marketplaces like OpenSea with a digitally native community built by users for users. The project's mission statement emphasizes support for emerging artists and their original work, and assistance for NFT communities in implementing their roadmaps. OpenDAO has allocated 20% of its treasury to provide compensation to verified scam victims on OpenSea with SOS, reflecting its commitment to being a grassroots initiative by the web3 community. The project is currently in the building phase, with utility strongly centered around the SOS token and the compensation it provides for staking. Token holders can stake their airdropped tokens and receive veSOS in return, which gives them full voting rights within the DAO.

OpenDAO aims to build a DAO in the Web3 and NFT space and launch an ecosystem that provides grants to developers and marketers, alongside creator curation. The project is developing Mintstarter, which aims to provide more utility for the SOS token and is expected to be a launchpad for newly minted NFTs. Additionally, OpenDAO aims to launch SOSMarket, an NFT marketplace alternative that allows users to trade their NFTs for SOS. The project is developing SOS Chain, an EVM-compatible NFT trading experience with zero gas fees, and a bridge and a DEX on its SOS chain, aiming to enable the migration of assets between blockchains.

OpenDAO was launched on Christmas Day 2021 with the distribution of its SOS token to users who had bought, sold, or traded NFTs on the OpenSea marketplace. The project was initiated by a core contributor known as 9x9x9.eth, an anonymous DeFi power user, along with other like-minded contributors. OpenDAO is organized as a DAO, making it open for anyone to contribute to it. The total supply of SOS is 100 trillion, issued through a fair launch that left no tokens allocated to founders. 50% of the total supply was distributed via airdrop, with 20% reserved for staking incentives, 20% for the treasury, and 10% for liquidity pool incentives.