A Ethereum-based altcoin, which recently entered the crypto markets, is seeing massive gains of almost 22x in just 24 hours.
OpenDAO (SOS) saw a staggering price spike after being dropped on December 24th.
Data from CoinMarketCap shows the SOS of a low of $ 0.00000048 on the day of the drop to a All time high rose from $ 0.00001154 on December 25th, a 2.191% rally in just one day.
The OpenDAO project launched the SOS token in order to attract the participants of the non-fungible tokens (NFT) Industry. For its airdrop on December 24th, OpenDAO has started distributing SOS tokens to users of OpenSea, the largest NFT marketplace.
“SOS is grateful to all NFT creators, collectors and markets for maintaining the entire NFT ecosystem. Special thanks to OpenSea for its leadership role in promoting NFT trading. To pay tribute, we selected OpenSea collectors to hold our airdrop. “
The OpenDao website says that 50% of the total of 100 trillion SOS tokens will be allocated to those who have traded on OpenSea since day one. The distribution of the coins depends on the user Total number of transactions on OpenSea as well as the amount of Ethereum (ETH), Dai and USD Coin (USDC) that a user has spent on the platform.
OpenSea users can claim their tokens until June 30, 2022.
The rest of the tokens are distributed as follows: 10% for incentives for liquidity providers, 20% for incentives for staking and 20% for the OpenDAO treasury.
The SOS allocated for OpenDAO is used to compensate victims of OpenSea fraud, provide developer grants for participants in the SOS ecosystem and Supporting emerging artists, NFT communities, and art conservation.
SOS has been pulling back since its all-time high, and it is now Swap hands at $ 0.000006.
Featured image: Shutterstock / Tithi Luadthong
The post New Ethereum-Based Altcoin Skyrockets Up An Unbelievable 2.191% in Just One Day first appeared on The Daily Hodl.
Source: Crypto News Deutsch