Solana Swap
Crypto Overview
Project Overview
OpenDAO's SOS token was created in December 2021 as a token airdropped to OpenSea users, intended to serve as a governance token for the OpenDAO ecosystem. The token's stated purpose was to support NFT creators and collectors through various initiatives, including compensating victims of NFT scams and supporting NFT-related projects.
Utility Assessment
The token's primary utilities include: Governance rights in OpenDAO, Staking capabilities to earn rewards, and serving as a medium of exchange within the OpenDAO ecosystem. The project initially gained significant attention due to its airdrop mechanism but has seen declining activity since launch.
Development and Adoption
Development activity appears to have slowed significantly since the initial launch period. While the token achieved widespread distribution through its airdrop, current usage appears primarily centered around trading rather than its intended governance utility. The project's Github repositories show minimal recent updates.
Token Distribution
The token distribution included: 50% airdropped to OpenSea users, 20% for staking rewards, 20% for DAO treasury, and 10% for liquidity provision. There were no direct allocations to founders or team members, which is positive from a fairness perspective.
Business Model Analysis
The core functions of the token do not inherently involve prohibited activities. The governance and staking mechanisms are straightforward token-holder rights without interest-bearing components. However, the project's actual usage has deviated significantly from its intended utility, with limited governance activity.
Crypto Impact
To assign a comfort level investing in Solana Swap 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 Solana Swap.
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.
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You can change your vote if you change your mind.