Author | Qin Xiaofeng; Editor | Mandy
On the afternoon of the 24th Beijing time, a project called OpenDAO was quietly launched and announced that it would airdrop SOS tokens to all interactive users on the NFT trading platform Opensea. It is related to the number of transactions and the amount spent by the share user in Opensea before.
In short, this is an airdrop project for users of Opensea, which was criticized as not enough for Web 3.0 when it was announced that it might go public. (Airdrop link:https://www.theopendao.com/）
In the following day, the project received many crypto KOLs’ attention and likes on Twitter, including Dogecoin founder BillyM2k, NFT collector Pranksy (No. 1 in the NFT market revenue list), and Three Arrows Capital founder Zhu Su, etc. wait.
As the discussion of the project became more popular in the community, the price also began to rise, and users who initially did not have enough tokens to pay for GAS also began to actively receive them. At 9:00 p.m., Matcha MEXC was the first to launch SOS, followed by some small trading platforms, pushing the price to soar further. Kucoin also posted that it has paid attention to SOS, implying that it will be launched soon.
In the past 24 hours, the highest price of SOS has risen to 0.000008 USDT, and the current average price is maintained at 0.000007 USDT, which is more than 30 times higher than the initial price; so far, there have beenMore than 100,000 addresses have received SOS token airdrops, 52.16% of the airdropped tokens have been claimed. The number of addresses far exceeds that of ConstitutionDAO (16,779) and ENS (60,119) before the fire. According to Uniswap data, the 24-hour transaction volume of SOS has exceeded 130 million US dollars.
secondary title
(1) What is OpenDAO? What is the economic model of SOS?
It is reported that OpenDAO is an NFT ecological decentralized organization@721DAOLaunched projects, their main initiators, contributors, senior NFT players「9x9x9」The project initiated by 9x9x9 also tweeted to confirm this. At the same time, 721Dao also expressed in the community that it will invest 100 million US dollars in the construction of the SOS ecosystem.
According to the official website, the original intention of the creation of SOS tokens is to thank all NFT creators, collectors and markets for nurturing the entire NFT ecosystem, especially thanks to OpenSea for its leadership in promoting NFT transactions. "As a tribute, we have selected OpenSea collectors for our airdrop."
The specific number of airdrops is determined by the total number of transactions and the funds spent (ETH, DAI, and USDC). The weight of the former is 30%, and the weight of the latter is 70%. At the same time, users must receive the token SOS before June 30, 2022 , otherwise you will be disqualified.
According to the plan, the total amount of SOS is 100 trillion, of which 50% will be used for airdrops, 20% will be used as Staking rewards, 10% will be used as LP rewards, and the last 20% will be reserved for OpenDAO. And OpenDAO will use this 20% to compensate verified scam victims on OpenSea, support emerging artists and their original works, support the NFT community, support art preservation, and participate in developer grants for the $SOS ecosystem.
This token distribution mechanism has also been questioned by the community. Some people believe that in addition to the airdrops to be claimed, OpenDAO still holds at least 50% of the tokens in its hands. There is no lock-up time, and there is a risk of cashing out.
In this regard, the initiator「9x9x9」Said that his work for @The_OpenDAO is free of charge, and the SOS tokens in his hand are currently purchased by himself. "But you know I'm not in it for the money, otherwise, I'd buy it within the first hour (of the coin) instead of 10 times (the time to buy it)."
also,@QuadrataNetworkChief Technology OfficerFabdaRiceSaid that there is a loophole in OpenDAO's airdrop program, and the number of claims can be modified at will, but the official has not yet responded to this issue.
As of the publication, according to the latest official data, more than 52% of the airdropped tokens have been claimed, totaling more than 102,000 addresses.
(2) The second SUSHI? The second PEOPLE?
OpenDAO's rush to issue tokens to attract Opensea users reminded many people of SushiSwap last year. As an imitator, SushiSwap once took away Uniswap's liquidity and users, and once became the leader in the DEX field.
However, such a comparison is obviously unrealistic. After all, OpenDAO has just been established, and it is still unknown whether it will develop a trading platform. Moreover, SUSHI was attractive for high returns in the upsurge of DeFi liquidity mining at that time, allowing users to continue to contribute liquidity. NFT Marketplace is another story. However, with the support of a large number of NFT players, such a prospect is reasonable to some extent.
But these blueprints for value support are still early. At present, for most ordinary traders, SOS is still a "zero elimination game" (referring to token The unit price is low, and the decimal point will be eliminated through a huge increase in the later period).
In the community, you can see a lot of propaganda slogans with FOMO emotions, "calling orders" to each other, saying that they are "clearing PEOPLE, Stud SOS", which seems to be no significant difference from every MEME craze.
You can also see some bad-mouthing voices, NFT project Pudgy Penguins Cole, the initiator of the project, said: "I sold all my SOS tokens. I know what I'm doing, this "shit coin" is crazy, hahaha. I like the token, but I think it will be possible to get cheaper chips in the future. "
(3) Thinking: Web3 products are not airdropped, someone will rush ahead of you
Regardless of the price trend of SOS, whether OpenDAO can meet user expectations and make practical applications, this incident has caused many people to talk about: products in the Web3 era do not issue coins, we can reward users for you and absorb your traffic , a blow to your dimensionality reduction. There is even a lively discussion in the community: how to airdrop for Metamask.
Not long ago, when the news that OpenSea was planning an IPO came out, the community was full of criticism. Hundreds of thousands of Web 3.0 users make frequent transactions and contribute handling fees, which makes OpenSea earn a lot of money and have a prominent reputation. Now you want to hand over these profits to the capital of Web 2.0? Are we going to buy Opensea stock?
The story of "a boy who slays a dragon and turns into an evil dragon" is not uncommon in Web 2 business stories. The example of SOS is showing us another narrative possibility: water can carry a boat, but it can also overturn it; you can't, we Do it for you; if you don't reward the person who should be rewarded, the user will "Dao" you.
As Sky9 Capital partner Vincent said: In Web2, your "value behavior" will only bring "value" to the company that provides the service, and has nothing to do with you. In Web3, your "value behavior" will bring you "value" sooner or later. Don't worry if Opensea doesn't issue native tokens. On the chain, the user's data is the user's own, and your behavior on the chain is traceable. These valuable behaviors OS does not reward you, others can give. SOS has already started, and LooksRare will also send airdrops to OS users later. So you can do whatever you want on the chain, and your "value behavior" will bring you "value" sooner or later, the magical Web3.
Data is truly a gold mine in this industry. Various applications in Web2.0 have been buried for a long time, and most of the data is redundant data, which is useless. The core is that user information is difficult to get through, and the portrait is incomplete. Every txn on the chain is a "high-value" user behavior (after all, it bears a high gas fee), which filters a large amount of useless or low-value behavior data, and at the same time opens up the user behavior of thousands of dApps. The filtering/analysis/processing of these data can generate countless scenarios, from capturing trading opportunities, to finding accurate user address groups, to forming identities and social relationships on the chain, everything is an opportunity worth more than tens of billions of dollars .
Chen Yuetian, a partner of Huofeng Capital, also has the same opinion. He believes that this is very innovative and fundamentalist. This is the idea when Web 2 was first proposed, and it has been realized in Web 3. This is a "power-seizure movement ".
Innovation may fail and there may be problems, but the thinking that innovation brings to us is always valuable.
