OpenDAO (SOS)

Basics

• Based in:
• Started in / Announced on:
• Testnet release:
• Mainnet release:
• The project isn't affiliated with OpenSea (25-12-2021).

Audits & Exploits

• Bug bounty program can be found [insert here].

Governance

Admin Keys

• From Decrypt (27-12-2021):

“fabdarice,” found “red flags” within the code. First, they found that half of all tokens are held in three externally held accounts, “Meaning that the team can at any point rug the entire liquidity or is at risk of having a central point of failure being compromised.”

Fabdarice also found that the contract’s claim function allows the developers to “grant any arbitrary amount of $SOS to any arbitrary wallets by simply generating ‘valid signatures’,” without anyone being able to “differentiate the valid claims from the invalid ones.”

But 0xquit says Fabdarice’s concerns are about the viability of the token, not its security. “While it's true that the devs could potentially forge a signature to mint SOS for themselves, they could not use that to, say, steal your SOS or anything else from your wallet,”

The project’s snapshot has already voted in favor of locking up 30% of the tokens for at least a year, and the team is in the process of finding reputable holders for its multi-sig wallets."

Token

Token Allocation

• From Decrypt (27-12-2021):

"SOS is an airdrop from OpenDAO, distributed to people who have spent money on OpenSea transactions. By Sunday, about 240,000 [wallets] had claimed the token. OpenDAO’s site claims that there will be 100 trillion total $SOS tokens. Half were designated toward the airdrop. Another 20% will be issued as staking incentives, and another 10% will incentivize liquidity providers. A final 20% will go to the OpenDAO protocol. The OpenDAO protocol will compensate victims of OpenSea scams, support NFT communities and artists, and provide money to developers."

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed [insert here].

Implementations

• Built on:
• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

Roadmap

• There isn’t a project roadmap yet (25-12-2021).

Pros and Cons

Cons

• From Decrypt (27-12-2021):

“fabdarice,” found “red flags” within the code. First, they found that half of all tokens are held in three externally held accounts, “Meaning that the team can at any point rug the entire liquidity or is at risk of having a central point of failure being compromised.”

Fabdarice also found that the contract’s claim function allows the developers to “grant any arbitrary amount of $SOS to any arbitrary wallets by simply generating ‘valid signatures’,” without anyone being able to “differentiate the valid claims from the invalid ones.”

Team, Funding and Partners

Team

• A pseudonymous developer called 9x9x9 created OpenDAO.

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