Buy OpenDAO (SOS)
What is OpenDAO?
OpenDAO is a decentralised autonomous organisation (DAO) that focuses on supporting the NFT community, especially users of the OpenSea marketplace. It introduced the SOS token through an airdrop to OpenSea users to commemorate their contributions and foster further engagement within the NFT community.
How does OpenDAO work?
OpenDAO operates on the Ethereum blockchain, utilizing smart contracts to manage and distribute its SOS tokens. The SOS tokens were primarily distributed through an airdrop to OpenSea users. This distribution strategy aimed to ensure a wide reach and active participation within the community. The tokens serve multiple purposes, including staking incentives, DAO treasury funding, and liquidity provider incentives. Moreover, OpenDAO aims to expand its utility through various platforms such as SOSMarket and SOS Chain, offering a fee-free, EVM-compatible NFT trading experience.
What are the potential use cases for OpenDAO?
OpenDAO has several notable use cases, including:
- NFT Marketplaces: Enabling transactions on permissionless marketplaces and the minting and trading of NFTs using SOS tokens.
- Governance: Providing a governance mechanism where users can stake SOS tokens to gain voting rights in the DAO.
- Staking and Incentives: Offering staking incentives where tokens can be staked in exchange for governance tokens with voting privileges.
- Compensation for Scam Victims: Allocating funds to compensate verified scam victims from the community.
- Art Preservation and Support: Supporting emerging artists and art preservation initiatives to maintain the integrity and growth of the NFT space.
- Developer Grants: Offering grants to developers who build on the OpenDAO ecosystem, fostering innovation and development.
What is the history of OpenDAO?
OpenDAO was founded by Sean Qian and Moresh as an initiative to integrate real-world asset tokenization with the DeFi space, initially focusing on real estate. The project evolved to cover broader asset classes, with its protocol enabling borrowing against tokenized assets. Over time, OpenDAO collaborated with UMA for enhanced security measures, further developing features like the SOSMarket and SOS Chain. The SOS token, distributed via a major airdrop, has been listed on major exchanges, and OpenDAO continues to aim for a prominent role in the metaverse and Web3, akin to the stability and integration seen with stablecoins like USDC.
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Frequently Asked Questions (FAQs)
What is the current price of OpenDAO (SOS)?
The OpenDAO price is $1.6469e-8 AUD, representing a +0.25% from the day prior.
Where is the best place to buy OpenDAO (SOS) in Australia?
The best place to buy OpenDAO (SOS) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell OpenDAO (SOS) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of OpenDAO (SOS)?
The trading volume of OpenDAO (SOS) is $308.2K AUD in the last 24hrs, representing a +0.25% from the day prior.
How can I buy OpenDAO (SOS)?
OpenDAO (SOS) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of OpenDAO (SOS)?
The current market cap of OpenDAO (SOS) is $739.5K AUD.
Can I convert OpenDAO (SOS) to cash?
Yes - With Coinstash you can convert your OpenDAO (SOS) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many OpenDAO (SOS) are there?
The current circulating supply of OpenDAO (SOS) is 39.9T.
Is Coinstash a safe place to buy OpenDAO (SOS) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling OpenDAO (SOS) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.