Samecoin

Jan 13

3 min read

Chapter 2 — Say Hello to the Ecosystem

Dear Samecoiners,

The DeFi space has always been full of scams — projects with very good marketing that end up being massive cash grabs for their founders but a loss of capital for the people who invest in them.

It doesn’t take a genius to fork a proven product, give it a new name and spend some $$$ on hype marketing. However, those projects tend to die real quick once the founders drain all the money raised, pre-sale buyers sell for gains and the rest are left with a bag of worthless tokens.

To evolve above that, and to actually build a sustainable ecosystem, it takes a lot more heart and guts.

So, what’s so special about Samecoin you might ask? How does it differentiate from these run-of-the-mill forks? How is Samecoin an ecosystem that provides value to its users, while balancing longevity and risk?

In Chapter 1 we laid out our vision and as promised we’re going to start explaining the strategy to get there.

SamePay

SamePay is a non-custodial crypto wallet app for smartphones. Since it’s non-custodial, your keys are yours and we have no control over them. This is unlike Crypto.com & Binance, but more like Metamask & Trust Wallet.

SamePay is being developed with 4 pillars in mind:

  • Make crypto easy to buy, send, receive and exchange
  • Empower people in line with the original concept of cryptocurrencies: be your own bank
  • Connect people with the vast amount of web3 decentralised apps
  • Make crypto the default option when people want to split a restaurant bill, pay back a friend or make a purchase

Some of its features are:

  • Create a single, multi-coin wallet that supports BTC, ETH, BNB, SOL, USDT, SAME and SUSD
  • Import your existing wallets and manage them from a single app.
  • Explore and connect with thousands of web3 Dapps, including Games, NFT Marketplaces, Decentralised Exchanges, Protocols and more
  • View crypto market data including price charts, customisable lists, cryptocurrency profiles and more
  • Stake SAME and use it to pay for transaction fees at discounted rates

SamePay will be available for iOS and Android. Find out more at samepay.com!

Samecoin (SAME)

SAME is the utility and governance token that’s used across the entire Samecoin ecosystem.

By holding SAME, you can participate in the governance of the Samecoin Protocol; proposing changes and voting for the various proposals put forward by the DAO.

SAME also has utility through its use on the various products:

  • Stake your SAME on SamePay and use it to pay transaction fees at a discounted rate
  • Stake your SAME on SamePay and grow your VIP level for exclusive features
  • Use your SAME to Bond on Samecoin Protocol v2.0 and get bSAME (Bonded SAME) which can then be staked
  • Use your SAME as collateral for the various loan options on SameFinance

Find out more at https://samecoin.com/en/crypto/

SameUSD (SUSD)

Unlike other stablecoins, SUSD isn’t backed by bank accounts, assets or collateralised assets. Instead, it’s backed by a basket of widely available stablecoins, mainly BUSD, USDT and USDC.

This can protect SUSD from various issues that tend to de-stabilise other stablecoins and make them lose their peg multiple times a day;

  • Loss of value of the underlying assets (highly risky during market crashes)
  • Delays present in algorithmically stabilising the price (present in UST)

This means that SUSD is not directly pegged to the US Dollar, instead, it is pegged to the value of the stablecoins that make up the basket. We call this a peg-by-proxy.

SUSD also lays the foundation for new stablecoins which mirror other fiat currencies — such as a SameGBP and SameEUR in the future.

Find out more at https://samecoin.com/en/crypto/#sameusd

Tune in next time as we’ll dive deeper into the remaining members of the Samecoin Ecosystem: Samecoin Protocol and SameFinance!

  • The Samecoin Team