OpenDAO
Crypto Overview
Overview
OpenDAO was launched in December 2021 as a decentralized autonomous organization (DAO) focused on supporting the NFT ecosystem and OpenSea users. The SOS token was airdropped to OpenSea users based on their trading volume.
Purpose and Utility
The stated purposes of SOS include: governance of OpenDAO treasury, staking rewards, NFT artist incentives, and community development. The token allows holders to participate in governance decisions regarding treasury allocation and project direction.
Business Model Analysis
The project operates as a DAO with community governance. The main activities involve treasury management and supporting NFT-related initiatives. There are no evident components involving riba, gambling, or other prohibited activities in the core business model.
Adoption and Usage
The token experienced significant initial adoption during the airdrop phase. Current usage primarily revolves around governance participation and staking. The project maintains active social media presence and community engagement.
Token Distribution
Token distribution was conducted through a fair airdrop to OpenSea users. 50% was distributed to users, 20% to OpenDAO treasury, 20% to staking rewards, and 10% to the liquidity provider program. There were no pre-mines or team allocations.
Development Activity
The project maintains basic infrastructure for governance and staking. Development activity appears focused on maintaining existing systems rather than expanding functionality.
Crypto Impact
To assign a comfort level investing in OpenDAO from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to OpenDAO.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.