Samoyedcoin

price
change

Discover Samoyedcoin's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Samoyedcoin?

Samoyedcoin (SAMO) is a cryptocurrency launched on the Solana blockchain in 2021. Initially a meme coin, it has evolved into an experimental Web 3.0 community coin focused on onboarding Solana users, educating market participants, and fostering a transparent, non-contentious community. SAMO aims to be Solana’s ambassador, leveraging the blockchain’s technological advantages to provide efficient, eco-friendly, and scarce transactions. It also features a collection of non-fungible tokens (NFTs) and supports charitable donations through various platforms.

How is Samoyedcoin used?

Samoyedcoin (SAMO) is a meme token built on the Solana blockchain, primarily used to promote, educate, and support the Solana ecosystem. It serves as an ambassador for Solana, aiming to onboard new users and facilitate their navigation of the blockchain. SAMO can be used to make passive income through decentralized exchanges like Tulip, Orca, Cropper, and Raydium, where users can deposit tokens into lending or liquidity pools to earn interest or rewards. Additionally, SAMO is available for purchase on various centralized and decentralized exchanges, and its NFT collection can be bought on marketplaces like Tensor, OpenSea, and Magic Eden.

How do I store Samoyedcoin?

To store Samoyedcoin (SAMO) tokens, you have several options:

  1. Phantom Wallet: This is a popular choice for storing and managing SAMO tokens. It allows you to connect your wallet address to dApps on Solana, such as DEXs, and seamlessly trade SAMO with SOL.

  2. Multi-Coin Wallets: If SAMO is part of your broader crypto portfolio, you can use multi-coin wallets like Trust Wallet or Math Wallet for quick access to funds and services.

  3. TokenPocket Wallet: This wallet supports KeyPal devices, which can securely generate and store private keys for Solana tokens. Alternatively, you can create a SAMO address and account on a device not connected to the internet.

  1. Exchange Account Balance: You can also store SAMO on an exchange account balance, but this option comes with the risk of entrusting your funds to an exchange.

  2. Cold Storage: For maximum security, you can use cold storage options like hardware wallets, even though mainstream hardware wallets do not support SAMO.

Choose the wallet that best suits your needs and ensures the secure management of your SAMO tokens.

How to buy Samoyedcoin?

To buy Samoyedcoin (SAMO) tokens, you can follow these steps:

Buying SAMO on Centralized Exchanges (CEXs)
  1. Choose a Reliable CEX: Select a trustworthy centralized exchange that supports Samoyedcoin (SAMO) purchases, such as Kraken, AAX, or Bitrue.
  2. Create an Account: Register on the chosen exchange, providing the required information and setting a secure password. Enable two-factor authentication (2FA) for added security.
  3. Verify Your Identity: Complete Know-Your-Customer (KYC) verification, which may require providing identification documents depending on your nationality and region.
  4. Add a Payment Method: Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment methods.
  5. Buy SAMO: Use fiat currency or a popular cryptocurrency like USDT to purchase SAMO tokens.
Buying SAMO on Decentralized Exchanges (DEXs)
  1. Get SOL: Acquire Solana (SOL) on a centralized exchange like Binance, FTX, or Coinbase.
  2. Set Up a Phantom Wallet: Download the Phantom wallet browser extension or mobile app, which allows you to interact with the Solana ecosystem.
  3. Send SOL to Phantom: Transfer SOL from your centralized exchange to your Phantom wallet.
  4. Connect to a DEX: Go to a decentralized exchange like Raydium or Orca, and connect your Phantom wallet.
  5. Swap SOL for SAMO: Trade your SOL for SAMO tokens on the DEX.
Additional Resources
  • For detailed guides on buying SAMO, refer to the official Samoyedcoin website, Kraken, Binance, or KuCoin.
  • Ensure you understand the risks associated with cryptocurrency investments and consult financial advisors if needed.
Discover
Samoyedcoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of Samoyedcoin

Samoyedcoin (SAMO) is a dog-themed cryptocurrency that launched in April 2021 on the Solana blockchain. Initially created as a memecoin, it has evolved into an experimental Web 3.0 community coin focused on educating and onboarding users into the Solana ecosystem. The founders, known by the pseudonyms smsl and Hot Onion, were drawn to Solana's technological advantages and saw an opportunity to create a fun meme project that would promote the blockchain.

Samoyedcoin began with an airdrop of 1 million SAMO tokens to 2,000 community members, and its founders remain the core team members. The project has since expanded to include additional team members, such as a team lead, co-lead, and marketing lead. The token's unique features include its fast, efficient, and eco-friendly transactions, which set it apart from other meme coins like Dogecoin and Shiba Inu.

In 2022, the project underwent token burns, resulting in a max supply of 14 billion SAMO. Today, SAMO can be used across various Solana-based platforms and can be purchased from leading cryptocurrency exchanges. The Samoyedcoin community, known as the Samo Famo, aims to foster a transparent and non-contentious culture, differentiating it from other meme coins.

Discover
Samoyedcoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How Samoyedcoin works

Samoyedcoin (SAMO) is a cryptocurrency built on the Solana blockchain. It was created with a maximum supply of 14 billion SAMO tokens, but it regularly burns tokens, which are sent to an inaccessible wallet and removed from circulation. The token supply is allocated as follows:

  • 66.1% for burns
  • 14.4% for airdrops
  • 10.0% for marketing
  • 5.6% for gradual release
  • 3.9% for the core team

Samoyedcoin is designed to be an ambassador for the Solana ecosystem, promoting and educating users about Solana's technology. It is a meme token that has evolved into a Web 3.0 community coin, focusing on building a community that supports and onboards new users to Solana. SAMO operates on the Solana blockchain, secured by Solana's Proof-of-History consensus protocol, and also features its own NFTs utilizing the blockchain's capabilities.

How to Make Passive Income with Samoyedcoin

You can make passive income with Samoyedcoin through decentralized crypto exchanges. There are two ways to do this:

  • Deposit your SAMO tokens into a lending pool and earn interest on them.
  • Deposit your SAMO tokens and an equal value of another cryptocurrency into a liquidity pool. For example, if a liquidity pool contains Samoyedcoin and USD Coin (USDC), you can deposit an equal amount of SAMO tokens and USDC.

With both options, you earn crypto based on the amount you've deposited. However, keep in mind that passive income is much different with cryptocurrencies than with cash. If the value of Samoyedcoin drops, then you can lose money even after taking your passive income into account.

Risks

Being built on Solana has its pros and cons. On the one hand, Samoyedcoin benefits from Solana's technology, offering fast and economical transactions. On the other hand, Solana has developed a reputation for being unreliable when faced with unexpected transaction loads, which can cause network outages and affect the price of SAMO. Additionally, Samoyedcoin doesn't offer much utility beyond being an on-ramp to Solana, making it similar to other meme tokens.

Partnerships

Samoyedcoin has established connections with several decentralized finance (DeFi) platforms, including Tulip Protocol, Orca, CropperFinance, and Raydium. These platforms offer SAMO trading and staking, allowing users to make passive income with their SAMO tokens.

Buying Samoyedcoin

You can buy Samoyedcoin on various crypto exchanges, such as Kraken, Gemini, and OKEx. The easiest way to buy Samoyedcoin with crypto is to swap it on platforms like ChangeHero, which does not require registration or verification.

Conclusion

Samoyedcoin is a unique meme token that has evolved into a Web 3.0 community coin, focusing on educating and onboarding users to the Solana ecosystem. While it offers some benefits, such as fast transactions and passive income opportunities, it also comes with risks related to Solana's reliability and its limited utility.

Discover
Samoyedcoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Samoyedcoin's strengths

Samoyedcoin (SAMO) has several strengths that contribute to its unique position in the cryptocurrency market:

  1. Efficiency and Eco-Friendliness: SAMO operates on the Solana blockchain, which provides faster and more environmentally friendly transactions compared to other blockchain networks.

  2. Community Building: Samoyedcoin has evolved into a significant player in the Solana ecosystem, focusing on building a Web 3.0 community that educates market participants and welcomes new users to Solana. This community-driven approach helps onboard new users and fosters a sense of belonging among its members.

  3. Meme Coin with a Purpose: Unlike other meme coins, SAMO has a clear vision to serve as Solana's ambassador, promoting the Solana ecosystem and its capabilities. This strategic positioning sets it apart from other dog-themed coins.

  1. Strong Partnerships: Samoyedcoin has established partnerships with several decentralized finance (DeFi) platforms, including Tulip Protocol, Orca, CropperFinance, and Raydium, which enhance its usability and trading capabilities.

  2. Tokenomics: SAMO has a fixed maximum supply of 4.746 billion tokens, ensuring that no additional tokens will be created. This scarcity, combined with regular token burns, helps maintain the token's value and prevents inflation.

  3. Charitable Giving: SAMO holders can donate their tokens to various nonprofit organizations through The Giving Block, promoting crypto philanthropy and supporting a wide range of causes.

These strengths collectively contribute to Samoyedcoin's unique value proposition and its potential for growth within the Solana ecosystem.

Samoyedcoin's risks

Samoyedcoin (SAMO) carries several financial risks that investors should be aware of. Firstly, it has received a high risk rating from InvestorsObserver analysis, indicating that it is highly susceptible to price manipulation due to limited trading volume and market capitalization. This means that a small amount of money can significantly impact the token's price, making it a high-risk investment.

Another significant risk is its reliance on the Solana blockchain. While Solana offers fast and economical transactions, it has a history of network outages, which can negatively impact Samoyedcoin's performance. Solana's unreliability under high transaction loads can lead to price drops, making Samoyedcoin's success closely tied to Solana's stability.

Additionally, Samoyedcoin's utility is limited, making it similar to other meme tokens. It primarily serves as an on-ramp to Solana, which may not be enough to sustain long-term value. The lack of significant utility beyond its meme status and Solana ambassadorship increases the risk of investment.

Lastly, trading Samoyedcoin with high leverage can offer significant profit potential but also exposes traders to substantial risks. This highlights the need for caution and careful risk management when investing in SAMO.

Discover
Samoyedcoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did Samoyedcoin raise funds?

Discover
Samoyedcoin
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Samoyedcoin’s team

  • smsl: One of the founders of Samoyedcoin, who, along with Hot Onion, identified the potential of Solana and created the project to promote and support the Solana ecosystem.
  • Hot Onion: The other founder of Samoyedcoin, who, together with smsl, launched the project in April 2021 and continues to be part of the core team.
  • Team Lead: An additional team member who helps manage the project and implement its vision and mission.
  • Team Co-Lead: Another key team member who supports the project's development and growth.
  • Marketing Lead: Responsible for promoting Samoyedcoin and fostering its community.

Whalee AI

The fundamental analysis assistant for crypto value investors.

Samoyedcoin NEWS REPORT

Latest news

Want an analysis of Samoyedcoin? Tell us on discord.

Similar tokens

dog-go-to-the-moon-rune
The Doge NFT
dogwifhat
dogwifhat
bonk1
Bonk
mew
cat in a dogs world
shiba-inu
Shiba Inu
Help us improve!
Tell us what you think of this page and which features you would like to see next.
OPEN FORM