BlockchainGandalf

$SOS and the Whales


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By looking further into the structure of the $SOS token contract, I am fairly convinced that it doesn't allow the deployers to drain your wallet of funds.

However, there are always more concerns surrounding smart contracts than just the code that is there on the blockchain.

I mentioned in the previous video on this topic that I was not entirely sure about the digital signing function for claiming $SOS, based on your activity on OpenSea.

And indeed, some people have determined that the OpenDAO project devs can arbitrarily sign fund allocation transactions, meaning that they can airdrop as many tokens to whatever address they choose, up to the maximum supply of the token.

Furthermore, half the tokens are under the control of three wallets, which means that those whales can dump their holdings whenever they like - and if you don't know what the risks associated  with that are, well, imagine what would happen to the price of Tesla stock if Elon Musk suddenly and without warning sold every single share he owns.

And so we are stuck with a problem - how much do we trust the anonymous parties behind the OpenDAO and $SOS token project?

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BlockchainGandalfBy Keir Finlow-Bates