Cryptocurrency attributes
Other attributes
The Samoyedcoin is a cryptocurrency and "memecoin" launched in 2021 on the Solana blockchain. The coin was developed to take potential of other memecoins and their popularity and the chance they could be used in the development of Web3. Dogecoin, another popular dog-based memecoin, inspired the coin. The coin aims to help grow Solana's ecosystem by appealing beyond the appeal of the Solana blockchain users, which are mostly composed of technological coins.
Samoyedcoin is an emerging digital asset that has a mission to help accelerate the adoption, development, and growth of the Solana ecosystem, using the memecoin to draw attention to the blockchain. This is similar to Dogecoin's effect on the underlying blockchain, and Samoyedcoin is intended to be an ambassador for the Solana ecosystem. The coin also works to be an onboarding vehicle for the blockchain.
The Samoyedcoin was created with a max supply of 14 billion; however, 9.254 billion will be burned, representing 66.1 percent of the total supply, limiting the coin's max supply to 4.746 billion, with no more tokens being made when that total supply is reached.
Samoyed tokenomics breakdown.
The token has four planned burning events, with 0.29 billion, or around 2 percent of the supply burned on April 28, 2021. A further 0.7 billion, or around 5 percent, burned on May 2, 2021. The third event took place on June 1, 2021, when a further 0.7 billion tokens were burned following a community vote. The final burn is intended to be three separate burn events: an initial burn, a monthly burn for one year, and a random burn for a total of 54 percent of the supply. On July 3, 2021, the initial burn occurred, burning 1.5 billion, or 10.7 percent, of the supply. On August 28, 2021, 0.5 billion were burned, and on December 25, 2021, 0.06 billion Samoyedcoin were burned as part of a holiday burn. On February 7, 2022, 1.783 million Samoyedcoin from NFT sales were burned.
A randomly generated collection of 5,525 NFTs, which were custom designs of Samoyed dogs with unique attributes generated on the Solana blockchain, were sold as part of another part of Samoyedcoin's mission of introducing the Solana blockchain to new users and supporting the development of the Solana blockchain.
