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    DeFying Gravity: Samoyedcoin — the Сutest Mascot of Solana

    Samoedcoin

    In our DeFying Gravity series, we continue to introduce you to the most exciting projects in the crypto industry. And today we encourage you to take a look at the meme token that achieved a lot in a short time. Samoyedcoin was started as a fun project but soon became the ambassador for the expanding Solana network. We’ve noticed the efforts of the development and decided to discover the most interesting aspects of the dog-themed project. 

    What is Samoyedcoin?

    Samoyedcoin is the premier community token and the ambassador for the Solana ecosystem. Originally launched as a meme coin to follow Dogecoin’s paw steps, the project evolved into Solana’s mascot, working to bring new users to the network and to create new solutions for the ecosystem.  

    The project’s name comes from a dog breed that is common in Eastern Europe — the birthplace of Solana’s co-founder Anatoly Yakovenko. The lovable crypto dog, Samoyedcoin is also named after one of the most prominent people of the Solana ecosystem: Sam Bankman-Fried, co-founder and CEO of crypto exchange FTX.  

    SAMO is hard-capped and deflationary. It offers faster transaction speed (over 50 000 TPS), and virtually no fees (only $0.00025 per transaction). According to the developers, It is also one of the most eco-friendly tokens on the market, as the energy required for a transaction is less than for a Google query.  

    The mission of Samoyedcoin as Solana’s ambassador is to push the limits of what is possible for the Web 3.0 community. To accomplish this, SAMO provides market participants with the knowledge, resources, and tools necessary to navigate Solana and crypto in general. 

    Samoyedcoin use cases 

    The project has a number of native tools, including:

    • SAMO Tips — HTML-code generator that allows you to set up your tip portal;
    • SAMO Airdrop tools — allow users to get lists of token holders or mints and also the proportional airdrop options; 
    • SAMO DEX — a native decentralized exchange that provides advanced trading info for each pair listed on Bonfida.

    One of the most important features of Samoyedcoin is its full integration with decentralized financial services on Solana. This means that holders can still earn a passive income even if the market remains bearish for a long time. The first way is safe strats — a single-stake model using only SAMO tokens for staking. Users can also go for single-token options on DeFi landing protocols (such as Francium and Tulip), which offer an APY of about 18-20%%. 

    SAMO can also be borrowed and farmed on various platforms such as Radium.io, Orca.so. 

    SAMO and Tokenomics

    The maximum supply of SAMO is 14 billion coins and 3.2 billion are currently in circulation. 2.1% of the total supply was burned at launch, and 64% more — during 3 events. 5% and 5% were burned during events in honor of Anatoly Yakovenko and Sam Bankman-Fried, respectively. The remaining 54% of tokens were burned gradually during the Final Burn event. 

    Initially, the team got rid of 1.5 billion coins. The rest was locked for 12 months, and of that amount, 500 million tokens are to be released on the 1st of each subsequent month. Then they are being burned on a random day of the same month until the Burn Wallet is emptied. The entire project number of tokens will be burned by June 2022. Burn proofs and specifications are available on Solana Explorer.  

    10% of the supply is kept for marketing and development purposes, 3.9% is allocated to the core team. 14.4% of the circulating supply was distributed through a free airdrop, and 5.6% was released progressively. 

    Roadmap Achievements and Directions 

    Since its launch in April 2021, the project has come quite far in its development and has achieved all short-term goals with ease.

    For instance, the asset became the 3rd largest meme token by the market cap in October and reached the all-time high of $0.246 just a few days later. The number of token holders recently reached 50K and over 65K users follow the official Twitter account.

    In 8 months the project has managed to be listed on 11 centralized (Bitrue, HotBit, Gate.io, Hoo, etc.) and 6 decentralized (Orca, Raydium, Serum, Bonfida, DexLab, Solape) exchanges. 

    Moreover, Samoyedcoin has been integrated into 6 DeFi platforms that allow users to borrow, lend, provide liquidity, and farm with SAMO. It has also been spotlighted in several Solana NFTs. On December 9, the token became available for betting on SolCasino, the first live playable casino on Solana.

    Samoyedcoin went international with communities in 18 countries and the website translated into 14 languages. The project partnered with GenesysGo to host a SAMO airdrop, and also with The Caveman Club for $CAVE airdrop. The project also participated in some tournaments hosted by Grape Protocol.

    The project donated $39,000 worth of SOL to Dogs For Better Lives in Wyoming, a non-profit organization that helps dogs. 

    In 2022 Samoyedcoin developers plan to focus on several initiatives, such as SAMO Raids, Samo Meme contests, More SAMO Mondays (when users post the screenshots of purchased SAMO tokens), SAMO stats Twitter Bot, and even fitness contests with a chance to win SAMO for the best fitness progress. 

    The most anticipated event — the launch of the NFT platform is planned for early 2022. Although the exact day has not been mentioned yet, it may happen before the end of January, according to Reddit updates. 

    The team also intends to launch SAMO Academy for crypto newcomers, where high-quality educational content will be published. Users will also find tools and resources for their research and analysis in the SAMO Academy.

    Another new project is “Diggin Deep” podcasts where the brightest minds of the Solana ecosystem will share details about their daily efforts in developing innovations. The team also plans to create a Twitter Space where the most acute members of the community can share their insights about new opportunities in the crypto economy.

    Another fun project is the “Hall of Memes”. This is a virtual gallery, where the most significant SAMO Memes will be forever cemented in history. Creation of SAMO Merch and swag for community members are also on the list. The team is also planning more exciting marketing events.

    According to the announcement on Medium, the plans may be changed or expanded in the future depending on market conditions and community demand. We can see that ambitious goals have been set for the new year, and knowing how far Samoyedcoin has already come, it seems quite possible for the project. 

    In mid-January, the team released the first-ever Samoyedcoin Reddit community survey to discover the ideas and opinions about the project’s present and future. The team also announced the upcoming SAMO Reddit Banner competition for artists. 

    Samoyedcoin Price Prediction

    The popularity and social acceptance of the SAMO token are growing every day. In the last month, the project experienced increased attention and a rise in the number of holders and followers. The team regularly motivates the Samoyed family and shares news about upcoming updates, collaborations, contests, etc. 

    Currently, SAMO follows the general trend in the crypto market. However, this does not discourage most of the community members who remain loyal to Samoyedcoin and believe in a price increase once the downtrend is over. 

    SAMO is already the fourth-largest meme token by market cap, and its roadmap goals give high hopes for the project’s future. 

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research. This text is not a guide to action. The author's opinion may not coincide with the opinion of CoinJoy.

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