The crypto community's last weekend of 2021 was ignited by OpenDAO, a Christmas in the Western world where crypto enthusiasts spent their time in a SOS airdrop frenzy.

On December 24, OpenDAO, a decentralized autonomous organization founded by NFT collector "9x9x9", announced a SOS token airdrop to users trading on OpenSea, the world's largest NFT trading platform, which is available to all users who have previously traded on the platform.

The move is seen as a rebellion by OpenSea users against the platform's planned IPO: people contribute a lot of NFT trading fees to OpenSea, and OpenSea is going to IPO to the traditional capital market?

A token airdrop initiated by an individual or a few people was thus crowned with "meaning" and emotions were ignited. In addition to the firestorm brought by receiving the airdrop and going online on the secondary market, the topics also came up: those who criticized OpenSea for fawning over traditional capital, those who disliked the legality of OpenDAO airdrop, and even led to the topic of whether Web 3.0 should belong to the people.

Is OpenDAO really a DAO (decentralized autonomous organization)? Compared to GameFi's gold-defeating guild, OpenDAO and SOS are more like a Meme coin project driven by emotions, with a sense of the Shiba Inu (SHIB) community raising its arms to kill DOGE (DogeCoin).

Until there is a real organizational framework, goal building, user and functional management tools, OpenDAO is not so DAO, but at best a symbolic expression in the name of DAO. As some KOLs have discussed, it might make business entities in corporate form rethink the real value of users, especially those in the crypto world, who are no longer faceless traffic and have started to be enlightened to get back that part of the value that users bring to the business.

In the current world, the legitimacy of individuals issuing coins for a business in the form of a DAO is another area that some people think is open to question.

OpenDAO's counterattack on OpenSea's 'Considering IPO'

"Let's show VCs they can't own WEB3! Get your SOS at theopendao, 850,000 people are eligible to receive SOS, so if you plan to build SOS, apply for an airdrop." On December 24, a Twitter user named "9x9x9" posted about the SOS airdrop, tweeting a provocative message to VCs.

SOS is the governance token of the OpenDAO project initiated by "9x9x9", an NFT collector of the NFT (non-homogenized token) community Club721. It is reported that SOS has a total issue of 100 trillion, of which 50% will be used for airdrops.

With the free airdrop coupled with the challenging slogan, SOS and OpenDAO have thus caught fire throughout the crypto community. According to the OpenDAO official website, the community is grateful to all NFT creators, collectors and the market for nurturing the entire NFT ecosystem, "with special thanks to OpenSea for its leadership in facilitating NFT transactions, and as a tribute, has decided to opt for an airdrop to collectors on OpenSea."

In 2021, the NFT market has become a hot track for the Internet and crypto industry, and OpenSea is the largest NFT trading marketplace in the world. In November this year alone, 1.1 million transactions and nearly 250,000 users contributed to its $2 billion monthly trading volume. The platform takes a 2.5 percent fee from each transaction, which means it earned more than $50 million in revenue in 30 days.

But why is the token airdrop associated with OpenSea not initiated by the platform itself? That's because OpenSea has not been issuing coins, and what offends users of the crypto community even more is the platform's propensity for a potential IPO when, in fact, it has not explicitly stated that it will not issue tokens. The trouble is, rumors of an IPO for OpenSea have been persistent.

Since OpenSea's newly appointed CFO, Brian Roberts, had a major impact in leading former company Lyft's IPO in 2019, users have speculated accordingly that he will likely take OpenSea public. And in some interviews, Roberts has also hinted at the possibility of an IPO, arguing that the company is growing rapidly and that an IPO is "very rational.

The crypto community has argued in this regard that OpenSea would not issue related tokens if it went public. These concerns have fueled user sentiment against the OpenSea IPO, which they see as a betrayal of the crypto community as a platform that made its fortune in blockchain and NFT trading eventually moves toward traditional financial market financing.

Twitter user "Punk_2070" said it was "too bad to hear that OpenSea is selling shares and going through an IPO. He believes it is the community, not venture capitalists, that has driven OpenSea's success.

Roberts saw the backlash from users and on December 7, he began responding on Twitter that reports of OpenSea's planned IPO were "inaccurate," and "let me clarify: there's a big gap between thinking about what an IPO would eventually look like and actively planning one," he stressed, "We're not planning an IPO, and if we did, we'd consider involving the community.

As evidenced by the subsequent emergence of OpenDAO, it was clear that some OpenSea users sat back and simply issued their own SOS for the platform, which attracted a lot of traffic.

SOS top yield exceeds 10 times

As of 23:40 pm on December 26, according to Dune Analytics data, 75% of SOS airdrop shares have been claimed, and 191,704 people have SOS airdrops, a number of users not far from 250,000 users of OpenSea.

SOS has also been speculated as high as $0.0000113218, and it has gone up more than 10 times, despite the fact that there are still 4 '0's after the decimal point. At one point, trading volume reached $135 million on the decentralized trading app Uniswap. The token was so hot that centralized exchanges Firecoin and OKEx went live.

OpenDAO issued SOS , then what?

OpenDAO is considered a division, issued coins and created the biggest airdrop frenzy in 2021, but as a DAO (decentralized autonomous organization), what does it plan to do next?

According to the official website of OpenDAO, the total supply of SOS is 100 trillion, of which, 50% will be used for airdrop, 20% will be used for pledge rewards, 20% will be used for the maintenance of OpenDAO organization, and another 10% will be used for liquidity mining rewards.

SOS Token Allocation

It looks like the DeFi-ization of OpenDAO is inevitable, but it's the most regular routine for new crypto token projects at the moment.

OpenDAO officials also state that the 20 trillion SOS allocated to OpenDAO will be used for five main purposes, including compensating victims of fraud on OpenSea, supporting emerging NFT artists and their original works, supporting the NFT community, supporting artwork preservation, and as a reward for developers participating in the SOS ecosystem.

This is somewhat of a functional addition to the OpenSea platform, as far as OpenSea's trading functionality is concerned, which OpenDAO has not yet explicitly stated it will replace.

After OpenDAO issued a coin for OpenSea, the latter also responded on Dec. 26 saying, "We received a lot of questions and wanted to clarify that we are not participating in the SOS airdrop. We are happy to see the community finding creative ways to move forward, but we always advise (users) to research contracts and sources before claiming tokens."

OpenSea will SOS issuance of the table

OpenSea's response was very subtle, on the one hand affirming the community's actions, but beyond the words it also hinted at the security issues of unofficial coin offering contracts.

The statement also drew a lot of users' resentment. One person asked and threatened, "How do you feel when others reward your users as you rush to further focus and abandon the spirit of Web3? If you don't offer tokens to your users next year, it will be your last year, choose your actions carefully." Others said, "You don't give it away, they do, when they come out of the NFT platform, I'd better go trade on their platform, bye bye!

Once emotions are stirred, the market tends to go crazy, a state of affairs that the crypto asset market has shown many times in the past year, as exemplified by DOGE's price spike on the back of Tesla founder Musk's shouting orders, and again by Shiba Inu (SHIB) wanting to take out Dogcoin (DOGE).

At least there is the fact that the background of OpenDAO is unknown and the official Twitter account was just created in December of this year. In the face of such a project, SOS holders should perhaps be conscious of the fact that they should take profit and loss at their own risk.

Some netizens have also tweeted questions about the safety of OpenDAO. nftllama.eth, founder of the NFT community Llamaverse, warned that it is best to do your research and take risks, pointing out that OpenDAO is a project involving "9x9x9" and a large number of other people, but don't just listen to the words of a netizen.

In addition, OpenDAO issued coins in the name of opposing the OpenSea IPO, and there are promises of complementary platform features in its future plans, as if it issued a coin for OpenSea, the legality of this action is also questionable.

Beanie, the founder of PUNKS Comic, said that people's pursuit of SOS is "unbelievable"; Osf, the co-founder of Canary Collection, tweeted, "Is SOS legal or not? I'm highly skeptical of claims of random airdrop tokens, as you should be, and I hope no one participates in random airdrops without a background check."

It has already been discovered that although "9x9x9" has stated that it will give $100 million to support SOS community building, it seems that malicious attacks have already occurred in the community, and some hackers have started sending spam emails with malicious links to Discord servers via bots, and users who participate in the OpenDAO project airdrop who click on these links are likely to suffer the risk of having their funds stolen.

The crypto community's last weekend of 2021 was ignited by OpenDAO, a Christmas in the Western world where crypto enthusiasts spent their time in a SOS airdrop frenzy.

On December 24, OpenDAO, a decentralized autonomous organization founded by NFT collector "9x9x9", announced a SOS token airdrop to users trading on OpenSea, the world's largest NFT trading platform, which is available to all users who have previously traded on the platform.

The move is seen as a rebellion by OpenSea users against the platform's planned IPO: people contribute a lot of NFT trading fees to OpenSea, and OpenSea is going to IPO to the traditional capital market?

A token airdrop initiated by an individual or a few people was thus crowned with "meaning" and emotions were ignited. In addition to the firestorm brought by receiving the airdrop and going online on the secondary market, the topics also came up: those who criticized OpenSea for fawning over traditional capital, those who disliked the legality of OpenDAO airdrop, and even led to the topic of whether Web 3.0 should belong to the people.

Is OpenDAO really a DAO (decentralized autonomous organization)? Compared to GameFi's gold-defeating guild, OpenDAO and SOS are more like a Meme coin project driven by emotions, with a sense of the Shiba Inu (SHIB) community raising its arms to kill DOGE (DogeCoin).

Until there is a real organizational framework, goal building, user and functional management tools, OpenDAO is not so DAO, but at best a symbolic expression in the name of DAO. As some KOLs have discussed, it might make business entities in corporate form rethink the real value of users, especially those in the crypto world, who are no longer faceless traffic and have started to be enlightened to get back that part of the value that users bring to the business.

In the current world, the legitimacy of individuals issuing coins for a business in the form of a DAO is another area that some people think is open to question.

OpenDAO's counterattack on OpenSea's 'Considering IPO'

"Let's show VCs they can't own WEB3! Get your SOS at theopendao, 850,000 people are eligible to receive SOS, so if you plan to build SOS, apply for an airdrop." On December 24, a Twitter user named "9x9x9" posted about the SOS airdrop, tweeting a provocative message to VCs.

SOS is the governance token of the OpenDAO project initiated by "9x9x9", an NFT collector of the NFT (non-homogenized token) community Club721. It is reported that SOS has a total issue of 100 trillion, of which 50% will be used for airdrops.

With the free airdrop coupled with the challenging slogan, SOS and OpenDAO have thus caught fire throughout the crypto community. According to the OpenDAO official website, the community is grateful to all NFT creators, collectors and the market for nurturing the entire NFT ecosystem, "with special thanks to OpenSea for its leadership in facilitating NFT transactions, and as a tribute, has decided to opt for an airdrop to collectors on OpenSea."

In 2021, the NFT market has become a hot track for the Internet and crypto industry, and OpenSea is the largest NFT trading marketplace in the world. In November this year alone, 1.1 million transactions and nearly 250,000 users contributed to its $2 billion monthly trading volume. The platform takes a 2.5 percent fee from each transaction, which means it earned more than $50 million in revenue in 30 days.

But why is the token airdrop associated with OpenSea not initiated by the platform itself? That's because OpenSea has not been issuing coins, and what offends users of the crypto community even more is the platform's propensity for a potential IPO when, in fact, it has not explicitly stated that it will not issue tokens. The trouble is, rumors of an IPO for OpenSea have been persistent.

Since OpenSea's newly appointed CFO, Brian Roberts, had a major impact in leading former company Lyft's IPO in 2019, users have speculated accordingly that he will likely take OpenSea public. And in some interviews, Roberts has also hinted at the possibility of an IPO, arguing that the company is growing rapidly and that an IPO is "very rational.

The crypto community has argued in this regard that OpenSea would not issue related tokens if it went public. These concerns have fueled user sentiment against the OpenSea IPO, which they see as a betrayal of the crypto community as a platform that made its fortune in blockchain and NFT trading eventually moves toward traditional financial market financing.

Twitter user "Punk_2070" said it was "too bad to hear that OpenSea is selling shares and going through an IPO. He believes it is the community, not venture capitalists, that has driven OpenSea's success.

Roberts saw the backlash from users and on December 7, he began responding on Twitter that reports of OpenSea's planned IPO were "inaccurate," and "let me clarify: there's a big gap between thinking about what an IPO would eventually look like and actively planning one," he stressed, "We're not planning an IPO, and if we did, we'd consider involving the community.

As evidenced by the subsequent emergence of OpenDAO, it was clear that some OpenSea users sat back and simply issued their own SOS for the platform, which attracted a lot of traffic.

SOS top yield exceeds 10 times

As of 23:40 pm on December 26, according to Dune Analytics data, 75% of SOS airdrop shares have been claimed, and 191,704 people have SOS airdrops, a number of users not far from 250,000 users of OpenSea.

SOS has also been speculated as high as $0.0000113218, and it has gone up more than 10 times, despite the fact that there are still 4 '0's after the decimal point. At one point, trading volume reached $135 million on the decentralized trading app Uniswap. The token was so hot that centralized exchanges Firecoin and OKEx went live.

OpenDAO issued SOS , then what?

OpenDAO is considered a division, issued coins and created the biggest airdrop frenzy in 2021, but as a DAO (decentralized autonomous organization), what does it plan to do next?

According to the official website of OpenDAO, the total supply of SOS is 100 trillion, of which, 50% will be used for airdrop, 20% will be used for pledge rewards, 20% will be used for the maintenance of OpenDAO organization, and another 10% will be used for liquidity mining rewards.

SOS Token Allocation

It looks like the DeFi-ization of OpenDAO is inevitable, but it's the most regular routine for new crypto token projects at the moment.

OpenDAO officials also state that the 20 trillion SOS allocated to OpenDAO will be used for five main purposes, including compensating victims of fraud on OpenSea, supporting emerging NFT artists and their original works, supporting the NFT community, supporting artwork preservation, and as a reward for developers participating in the SOS ecosystem.

This is somewhat of a functional addition to the OpenSea platform, as far as OpenSea's trading functionality is concerned, which OpenDAO has not yet explicitly stated it will replace.

After OpenDAO issued a coin for OpenSea, the latter also responded on Dec. 26 saying, "We received a lot of questions and wanted to clarify that we are not participating in the SOS airdrop. We are happy to see the community finding creative ways to move forward, but we always advise (users) to research contracts and sources before claiming tokens."

OpenSea will SOS issuance of the table

OpenSea's response was very subtle, on the one hand affirming the community's actions, but beyond the words it also hinted at the security issues of unofficial coin offering contracts.

The statement also drew a lot of users' resentment. One person asked and threatened, "How do you feel when others reward your users as you rush to further focus and abandon the spirit of Web3? If you don't offer tokens to your users next year, it will be your last year, choose your actions carefully." Others said, "You don't give it away, they do, when they come out of the NFT platform, I'd better go trade on their platform, bye bye!

Once emotions are stirred, the market tends to go crazy, a state of affairs that the crypto asset market has shown many times in the past year, as exemplified by DOGE's price spike on the back of Tesla founder Musk's shouting orders, and again by Shiba Inu (SHIB) wanting to take out Dogcoin (DOGE).

At least there is the fact that the background of OpenDAO is unknown and the official Twitter account was just created in December of this year. In the face of such a project, SOS holders should perhaps be conscious of the fact that they should take profit and loss at their own risk.

Some netizens have also tweeted questions about the safety of OpenDAO. nftllama.eth, founder of the NFT community Llamaverse, warned that it is best to do your research and take risks, pointing out that OpenDAO is a project involving "9x9x9" and a large number of other people, but don't just listen to the words of a netizen.

In addition, OpenDAO issued coins in the name of opposing the OpenSea IPO, and there are promises of complementary platform features in its future plans, as if it issued a coin for OpenSea, the legality of this action is also questionable.

Beanie, the founder of PUNKS Comic, said that people's pursuit of SOS is "unbelievable"; Osf, the co-founder of Canary Collection, tweeted, "Is SOS legal or not? I'm highly skeptical of claims of random airdrop tokens, as you should be, and I hope no one participates in random airdrops without a background check."

It has already been discovered that although "9x9x9" has stated that it will give $100 million to support SOS community building, it seems that malicious attacks have already occurred in the community, and some hackers have started sending spam emails with malicious links to Discord servers via bots, and users who participate in the OpenDAO project airdrop who click on these links are likely to suffer the risk of having their funds stolen.