On December 29th, Beijing time, a project called "Gas DAO" once again attracted the attention of the encryption community.
Gas DAO is a decentralized autonomous organization that declares its vision to be the representative of the most active Web3 users on the Ethereum network, connecting the worlds of DeFi, NFT and Dapp. GAS is the ERC-20 governance token of Gas DAO. Users who hold 1 billion tokens in the future can initiate proposals; the total circulation is 1 trillion, of which 55% will be airdropped to 634,429 eligible wallet addresses (chain activities Consumption Gas fee is greater than 1559 USD). Regarding the specific future development plan of the project, the official website did not introduce in detail.
With the opening of the airdrop application today, the Ethereum network began to be congested, and the Gas fee soared, once approaching 200 Gwei; Ultrasound.money data shows that this airdrop claim event has burned 407 ETH. Currently, GAS is quoted at US$0.00049, and the market value in circulation is close to US$100 million. Some other users reported that the token was sold on Uniswap, and the slippage exceeded 10%.
"Gas DAO" is just a microcosm of the recent DAO movement.
With OpenDAO (SOS) launching a new wave of "DAO" revolution on Christmas Eve, more and more projects have joined this movement, transferring the power of issuing tokens from project parties to the community, trying to realize value shared. On December 28, a project called "MaskDAO" began to airdrop the token MASK to MetaMask users. However, the project has not been officially authorized by MetaMask, and then Metamask issued a "phishing website" warning to remind users and restrict access to the website.
At the same time, the legitimacy of the DAO project has been questioned. Beanie, founder of PUNKS Comic, said that people's pursuit of SOS is irrational; Canary Collection co-founder osf said on Twitter: "Is SOS legal? As it should be, I hope that no one will randomly participate in an airdrop without a background check)."
In our opinion, these DAO projects are essentially MeMe coins, and most of them are attracting people's attention through short-term community hype, marketing, and solicitation. Users participate in such projects,Need to pay attention to the following risks：
One is the concentration of project chips, which may lead to liquidity risks.two is
two isRisk of wallet private key leakage。Most of the DAO projects that have emerged recently have not been audited by professional audit institutions. When users apply for tokens, they need to authorize the smart contract, resulting in the leakage of the private key of the wallet, which may lead to theft of assets.
The third is to beware of the Pixiu plate.recommended reading
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This article analyzes whether the overseas DAO model can legally land in China?
