Is the SOS revolutionary signal the enlightenment of DAO or a perfect demonstration?

OpenDAO, the popular NFT airdrop project on the entire network during Christmas, nakedly stood on the basis of OpenSea traffic and carried out a community campaign. Although the popularity soon dropped, SOS opened a demonstration that means a very strong head. SOS may Will be forgotten, but the new route with DAO as the core may have already begun the first step of the Enlightenment.

OpenSea, the traffic monopolist of NFT trading platform

The giant that OpenDAO wants to decentralize this time is OpenSea, the largest NFT trading platform, which has almost captured 90% of the NFT trading market traffic. In the pursuit of decentralization and value-independent NFT sector, it is a dominant existence. Users have to love OpenSea, which is the dual drive of traffic and value. Of course, there are many NFT trading platforms in the role of NFT, such as SuperRare, Auctionity, etc., which are similar competitors of OpenSea, and battle in such a market. Obviously, OpenSea, which controls huge traffic, is beyond the reach of other platforms.

Data from the OpenSea Kanban board of Dune Analytics shows that the transaction volume of OpenSea Ethereum reached US$3.4 billion in August, and has remained at a level of more than US$2.3 billion in the following months, and the number of users is also Showing rising data points, the total number of Ethereum traders in OpenSea exceeded 810,000 within a period of time. The above is just a single statistics of the Ethereum public chain. In addition, many public chains such as Polygon also have different outputs and transactions in the NFT market.

Is the SOS revolutionary signal the enlightenment of DAO or a perfect demonstration?

Is the SOS revolutionary signal the enlightenment of DAO or a perfect demonstration?

(The chart comes from: Dune Analytics)

But it is also such an NFT transaction circulation platform, which is followed by users with great decentralization believers and is practicing decentralization. It provokes the sensitive nerves of users. Without issuing a token, it intentionally passed IPO listing can be said to be doing Web2.0 things under the skin of Web3.0. This makes NFT market users very distressed, just like a hard-working platform. Not only did they not gain their own governance rights, but they made wedding dresses for the traditional capital market, and they really felt like they were being toyed with. This also paved the way for the subsequent explosion of OpenDAO through the airdrop of SOS tokens.

OpenDAO’s hype for SOS airdrop

The airdrop introduction from OpenDAO describes it like this: $SOS thanks all NFT creators, collectors and markets, and thanks them for nurturing the entire NFT ecosystem. Special thanks to OpenSea for its leadership in promoting non-functional trade. To pay tribute, we chose OpenSea collectors for the airdrop.

Very ingenious. With the hostility brought to users by OpenSea’s previous controversial remarks, OpenDAO waved its banner: all NFT contributors deserve to be rewarded, not abandoned. Essentially speaking, OpenDAO initiated a battle between Web2.0 and Web3.0. In fact, there have been many cases of such things before. Regarding the contention of traffic, the defense of rights, or the meme under the gimmick, regardless of the form, they appear as very explosive “events”, and they are themselves. It represents the awakening of the long-established exploration of Web3.0.

Abandoning the rolling dividends in the hype boom, from a longer-term perspective, OpenDAO’s gameplay is still in a very early stage, even similar to the token issuance wave in 2017. The token is issued first without specific planning. , Let everyone have OpenDAO chips, circulate hype in the secondary market, use the huge topicality and Fomo sentiment, and continue to raise the industry’s attention to the project. Once the subsequent technical development and project planning are not continuously updated and maintained, Such projects are also most likely to become cannon fodder in the wheel of history. Just like OpenSea’s attitude towards this airdrop, “We are very happy to see that the community has found a creative way to move forward, but we always recommend (users) to study the contract and source before applying for a token.” This also indirectly explains the project. Or there is a greater safety hazard. At present, the SOS market, which has been online for less than a week, has stabilized.

Is the SOS revolutionary signal the enlightenment of DAO or a perfect demonstration?

(Image source: CoinMarketcap)

How to understand DAO in this war

The SOS token reward campaign initiated by OpenDAO is considered to be a practice of DAO. How to understand? DAO is a decentralized autonomous organization, a form of community proposed after the emergence of the blockchain, and also a way of community governance. Ideally, on a Turing-complete smart contract platform, after a decentralized autonomous community is established, the community can achieve a state of self-governance without any intermediary man-made management activities. At present, there is no fully decentralized autonomous organization under ideal conditions. However, DAO has given modern organizations a consensus on decentralized nodes to a certain extent, playing a role in coordinating behavior and automated management. In a more straightforward understanding, through DAO, users can share future expectations and customize the incentive mechanism, making it very simple to cooperate with strangers based on credit.

Looking back at the setting of OpenDAO’s SOS token airdrop number, it is mainly determined by the total number of users’ transactions in Opensea and the funds spent. This shows that all DAO organization builders must be able to ensure their own activity in the organization and provide value for the project. . With reference to its token distribution plan, OpenDAO is not a DAO. Except for airdrops to be claimed, OpenDAO still has at least 50% of the tokens in its hands, and there is no lock-up time. If this centralization risk is not resolved , Will accompany the development of the project. Moreover, we found that the initiator of this project is mainly a collector and some other personnel, and it will take time to gradually move towards the decentralized management stage.

Of course, such a semi-centralized model of DAO is still very common, as are popular airdrop projects like ConstitutionDAO. The project was established by Alice Ma and others, and distributed contributors who participated in the bidding for a copy of the U.S. Constitution according to the ratio of 1ETH=1 million PEOPLE. PEOPLE holders will vote on the use of a copy of the constitution. Although the final bid failed, PEOPLE also fully detonated the crypto community, and the value of the token rose wildly. It can be said that this type of project reconstructs the Web3.0 world from different aspects. New user-led production relations.

In the future, more DAO organizations will appear. Whether it is imitating disks or truly liberating users who are trapped by Web2.0, it reflects to a certain extent that more and more requirements for distribution, autonomy, and rules that cannot be tampered with are being proposed. , And the more such DAOs appear, the more choices are given to the aboriginals of Web2.0, and more opportunities and value can be tapped in a free and autonomous DAO liberation.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/is-the-sos-revolutionary-signal-the-enlightenment-of-dao-or-a-perfect-demonstration/
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