Solana Swap

Halal Rating :
Comfortable
Contract: HDa3zJc12ahykSsBRvgiWzr6WLEByf36yzKKbVvy4gnF
Last Price $0.18 Last updated:
Rank 228
1D Change -2.01 %
Market Cap $175.62m
Circulating supply 999,999,999
Maximum supply 1,000,000,000

Crypto Overview

Categories
  • Solana Ecosystem

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.

Rating Justification

Member Vote

Agree: 0 Disagree: 0

Login to vote on this

Comments