OpenDAO’s SOS Token Hits $250M Market Cap Despite Unclear Goals, Security Risks

OpenDAO’s SOS Token Hits 0M Market Cap Despite Unclear Goals, Security Risks
In a remarkable display of the power of airdrops in community formation, a new token reached a peak market capitalization of over a quarter-billion dollars in just four days.Unclear goals, looming security risks and a fickle market could lead to prices drifting lower as interest and attention begin to wane, however. Its market cap currently sits at $207 million.On Christmas, NFT traders awoke to an airdrop of SOS tokens – the governance token for the newly-formed OpenDAO.Airdrops are a token distribution method that allows crypto users who have performed certain actions to claim tokens. In this case, the airdrop applied…