If you claim $SOS token – watch out – it may not be as innocent as it seems

NFT enthusiasts took to Twitter and Discord to announce their excitement after OpenDAO’s $SOS token airdrop launched on OpenSea. 

The project allocated 50% of its $SOS tokens to active OpenSea users – and many NFT fans can’t quite believe their luck. 

The question is: is it as innocent as it seems?

Are $SOS tokens legit?

First things first – according to the official website:

“50% of $SOS token will be distributed to all addresses that have traded on OpenSea since day 1. The distribution is based on the total number of transactions (30% weight) and transaction volume on ETH, DAI & USDC (70% weight) on OpenSea. Users have until June 30, 2022 to claim their tokens, after which any remaining tokens will be sent to the DAO treasury.”

While this initially looks like a good deal, many NFT enthusiasts are questioning whether there’s a hidden agenda behind this seemingly-generous drop. 

Thankfully, Twitter user @0xQuit broke down the $SOS tokens’ smart contract. This is their overview, in a nutshell:

• The smart contract code is publicly available to view – alongside the OpenDAO.sol file. 
• This contract imports the ERC20 standard, which includes all of the default functionality.
• The first part of the file contains public constraints that provide information. 
• The first 5 lines ensure your mint will not exceed the total amount of $SOS available and prevent double minting. The contract verifies a signature, updates the supply to include your new tokens and calls a private _mint function. 
• The _mint function is OpenZeppelin standard. 
•  The contract uses the default ERC20 _transfer function.

Therefore, the $SOS tokens’ smart contract is legit and safe to claim and trade.

So where does the threat lie?

The threat lies in the bad actors that are trying to manipulate this opportunity in their favour. Bots are spamming Discord servers with malicious links, posing as legitimate actors and wiping out the wallets of NFT enthusiasts. 

Therefore, it’s super important that you click the right link and use the verified contract. Be wary of any links in Discord servers claiming to be the correct link. Clicking on these links is a risk and may lead to the devastating consequences that many have experienced in the last couple of weeks.