Up 130% – This Metaverse Coin Jumps In A Week Despite Market Recession!

0

While most of the crypto market is struggling to survive in stagnant waters, an Ethereum-based metaverse altcoin is enjoying a smooth run.

OpenDAO (SOS)launched in late December after an airdrop and initially rose more than 2000 percent before you experienced a major correction. Following this massive increase, SOS experienced moderate price action, albeit bumpy, until it started its impressive 130% rise last week.

The OpenDAO project had issued the SOS token to reward participants in the non-fungible token (NFT) industry. On December 24, OpenDAO began distributing SOS tokens to users of OpenSea, the largest NFT marketplace, as part of its airdrop.

Cryptocurrency data tracker WhaleStats also stated in a post yesterday that Ethereum whales are now madly investing in this altcoin:

“Last Minute: OpenDAO (SOS) is now among the top bought tokens by the 1000 largest ETH whale wallets.

The price of SOS has also increased by 41.9% in the last 24 hours…

The SOS token was created by the OpenDAO project to reward participants in the non-tradable token (NFT) industry.

To look a little further at what SOS is, the platform’s website explains OpenDAO as follows:

“It is a digital local community created by the community for the community, focused on arranging the playground for creators and collectors alike. [SOS] serves as the metaverse symbol on the platform.”

According to the OpenDao website, 50% of the 100 trillion total SOS tokens will be allocated to those who have traded on OpenSea since day one. The distribution of coins is determined by the total number of transactions the user has on OpenSea, as well as the amount of Ethereum (ETH), Dai and USD Coin (USDC) a user spends on the platform.

The rest of the tokens will be distributed as follows: 10% for liquidity provider incentives, 20% for staking incentives and 20% for OpenDAO Treasury.

OpenSea users have until June 30, 2022 to claim their tokens.

SOS allocated for OpenDAO will be used to compensate victims of OpenSea scams, provide developer grants for participants of the SOS ecosystem, and support emerging artists, NFT communities and artwork preservation.

At the time of writing, OpenDAO (SOS) is up over 11 percent in the last 24 hours and up over 132 percent in the last 1 week. It is trading at $0.00000427.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.


source site-8