Last week, I wrote some thoughts about aping into Samoyedcoin - in the following days, I did ape into Samoyedcoin. $SAMO was my gateway into the Solana Network.
I am quite heavy in the Cosmos ecosystem since before and never really paid much attention to Solana besides comparing it to Cosmos Network. So, buying $SAMO both made me a member of a great community, and introduced me to all the things Solana Network has to offer.
Market caps aside, Cosmos Network packs more punch, but Solana Network has more traction and is way more popular. Why not get into both? Not before long, I will most likely have my bags filled with coins from promising $SOL projects as well. For now however, I only hodl $SAMO, my sweet gateway drug into Solana Network.
Now that I've morphed into a follower of Solana Network and hold the official mascot in my bag, I thought I would write a Samoyedcoin review covering different aspects of $SAMO.
The realization that $SAMO can be a gateway for hundreds of thousands of people, just like me, into the Solana Network is an encouraging thought. I will continue to try and contribute with $SAMO related content in the future in an effort to grow the community and lure more people into the Solana universe.
Dogecoin, Shiba Inu, and Samoyedcoin is basically bulk NFT. Badges of honour in the community of each blockchain.
Why am I hodling $SAMO in my bag? The simple addition that community, or projects driven by culture, that represents a movement is a real thing. And that Solana Network has gotten enough traction to establish itself alongside BNB and Cardano, right below the two top tiers: Bitcoin and Ethereum. A bet on $SAMO is a bet on the continued success and growth of $SOL and the Solana Network.
Think about it, Bitcoin has Dogecoin, Ethereum has Shiba Inu, Solana Network has Samoyedcoin. Every distinguished blockchain network has its own mascot featured in respective network's wallet.
Dogecoin, Shiba Inu, and Samoyedcoin is basically bulk NFT. Badges of honour in the community of each blockchain.
And similarly to what Dogecoin and Shiba Inu has done, introducing every other person's brother, girlfriend, and mother to cryptos and blockchain. So can $SAMO introduce new people to the Solana Network.
I have noticed that the founding team behind Samoyedcoin try to distance themselves from being a typical memecoin. So, I'll refrain from labelling Samoyedcoin as a memecoin.
In Solana Network's own words:
Even though it was originally released as a memecoin, SAMO is becoming a real Solana ambassador, introducing Solana to new people, building new and exciting solutions for the ecosystem.
Not only is it the most adorable dog on any blockchain, it also bears the name of one of Solana’s ecosystem most prominent figures: Sam Bankman-Fried, CEO of FTX, making it the perfect Solana doge!
It’s community-owned and fun!
Samoyedcoin is what Dogecoin is to Bitcoin and what Shiba Inu is to Ethereum. The community token and mascot of the Solana ecosystem. Simply an exploration of community-building around a crypto asset, or a blockchain ecosystem. Bring new faces into the Solana ecosystem, bring people together, raise awareness or carry out charity work. A cultural movement relating to everything Solana.
The technological aspects of Samoyedcoin will not solve any real-world problems. But it will bring happiness to many people, and bring awareness to utility projects in the Solana Network, which in turn may solve real-world problems.
That being said, in its short lifetime, Samoyedcoin has managed to build a dedicated trading tool called SamoDex, different distribution tools, and a $SAMO tipping portal (feel free to tip med a $SAMO or two):
$SAMO Max supply:
Token burn(s):
Latest burn took place on 2nd November 2021, 500 million $SAMO was burned.
$SAMO circulation:
Earmarked:
Considering we are quickly closing in on the end of 2021 (and Q4), there will hopefully be a release of updated Samoyedcoin roadmap 2022, sometime soon.
Samoyedcoin is moving fast, a couple of low-tier exchanges have listed basic trading pairs. Better exchanges are bound to follow as the $SAMO famo community grows.
Over the last couple of weeks, OKEx ran a competition for memecoins, with the goal of listing two new memecoins on their exchange. Five different memecoins made it to the last round:
The two top coins would be rewarded with a listing. The process of deciding what coins to list was decided by popular vote. But it wasn't a simple like and retweet competition on Twitter. Votes were cast by signing in/creating an OKEx account and depositing a minimum of $10 worth of the coin you wanted to vote for. The two top memecoins with most votes (deposits) would win.
Needless to say, I voted for $SAMO:
And needless to say, $SAMO won the competition and received a SAMO/USDT trading pair on OKEx as of 5/11.
OKEx is just the latest exchange to list $SAMO, several other low-tier exchanges has picked up $SAMO trading pairs:
Towards the end of October, $SAMO was the third-largest meme token per CoinMarketCap.com. At the time of writing this Samoyedcoin review, we are the fourth largest:
The collective growth of the Solana ecosystem will likely be the biggest growth factor for $SAMO over the long run. The value of the network will trickle down to other projects in the ecosystem, naturally, Samoyedcoin as the ambassador will get a piece of that action.
So far, only low-tier exchanges has listed $SAMO. More trading pairs in existing exchange can spur some growth. But the biggest accelerators will come when tier-1 exchanges like Coinbase and Binance lists $SAMO.
An active $SAMO community will raise awareness of Solana and Samoyedcoin, which will lead to more adoption of Solana and more $SAMO hodlers.
Samoyedcoin have NFTs in their roadmap. The NFT community in Solana is booming, it is probably the best NFT ecosystem at the moment. Big things will happen when $SAMO taps into the NFT community of Solana. Consider that these people would already have Phantom wallet and the like, be familiar with Orca DEX, so the barrier of buying $SAMO is extremely low. Expect to see a big boost in number of hodlers once NFTs are launched.
No, Samoyedcoin is not a scam. It is Solana's (in)official ambassador, with a huge community behind it.
According to Samoyedcoin's official roadmap, the $SAMO NFT is planned for Q4 2021 (October-December).
It is too cute to fail. Notfinancialadvise.
The easiest way is to buy $SAMO through Orca DEX. You would need to install a SOL wallet, for example Phantom. Load it up with some $SOL, or $USDC. Then head over to Orca.so and swap for $SAMO in the exchange.
