Samecoin - An Ecosystem. A Real One.

makulo123 (25)in #samecoin • 3 years ago (edited)

With the rise of cryptocurrencies, the problem of one universal currency became a major issue to be solved. Bitcoin, Ethereum, Cardano, Ripple have all got amazing innovative features that are used in many different businesses. But when it comes to everyday spending, none of them provide convenient solutions that ordinary people could use and understand easily. There come many problems including volatility, expensive fees, or difficult usage, that make using crypto for payments a giant hassle. Samecoin offers a solution to this and many other problems.

Problems

Volatility - The market price of crypto changes extremely fast giving crypto a massive disadvantage to everyday spending when compared to fiat currencies.
Expensive for the business - Companies are required to ask KYC from their customers and this slows down the whole process and puts privacy at a risk.
Difficulty of use - What does it mean when you spend 0.0005 BTC? The impracticality and the lack of knowledge make crypto payments a very inconvenient payment solution.
The privacy is no longer there - Sending all your private information to many different companies might compromise your private information during data leaks, which happen far too much often.

Possible solutions

Samecoin - A utility token used to pay for trade and transaction fees on SamePay
Stablecoins - SameUSD and SameEURO - spendable currencies used for convenient payments
SamePay - Payment platform that prioritise connectivity, speed, usability, and privacy
SameID - Privacy-first identity verification enabling better connected and faster user experiences

Samecoin

This utility token is primarily used as an alternative way to pay transaction fees on SamePay. A trading fee is charged when sending and trading crypto on SamePay. SamePay for Business allows businesses to pay 50% less from transaction fees.

You can also stake Samecoin on SamePay to obtain higher cashback on trades. Staking also gives you vSamecoin tokens used for participation in governance. That way, you can vote on changes and make proposals on the Samecoin Protocol.

SameUSD

Obtaining this stablecoin is rather easy. You can mint SameUSD by depositing another stablecoin, which in return gives an equivalent amount of SameUSD + some bonus in the form of Samecoin. You can also buy SameUSD directly on SamePay with a debit card or exchange for another crypto. Last but not least, you have the option to use external swapping DEXes like PancakeSwap or UniSwap. There is also a chance to obtain this stablecoin via a Refer-a-friend program by inviting your friends to join SamePay ecosystem.

SameUSD is backed by a trusted reserve of verifiable stablecoins and by using the ecosystem you get Samecoins in return, which can be exchanged back for some more SameUSD or used for transaction fees.

Samecoin Protocol

Samecoin protocol is a robust ecosystem that gives Samecoin its primary features. By minting SameUSD you get some Samecoin in return, which can be in return converted back to SameUSD. SameUSD can be also staked to earn more Samecoins that can be used for savings. Stake Samecoin to earn vSamecoin and participate in protocol governance. There is also a possibility to participate in liquidity pools and stake Samecoin-SameUSD LP tokens to get more Samecoins. The whole Samecoin Protocol is backed by its Deflationary Model that provides scalability to the whole ecosystem.