Samecoin x Satoshi Club AMA Recap from 14th of May

Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Samecoin and our guests were @kurto0 @Frrrsu. The AMA took place on 14 May.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram community

Gold Rocket | Satoshi Club: Hello again, dear Satoshi Club!

Andrés M. | Satoshi Club: AMa time! We are happy to be here with you

Gold Rocket | Satoshi Club: We are pleased to announce our next AMA with Samecoin!

Andrés M. | Satoshi Club: Today our guests are from Samecoin project:

@kurto0

@Frrrsu

Kurt – Samecoin.com: Hello everyone! really excited to be here for this great AMA

Guy Frrr: Hi everyone

🤟🤟

Andrés M. | Satoshi Club: [ 🤗 Sticker ]

Gold Rocket | Satoshi Club: Hello and welcome to Satoshi Club👋

@kurto0

@Frrrsu how are you doing?😊

Kurt – Samecoin.com: Doing real good, thanks! Excited to finally meet the Satoshi club community and to answer some questions

Guy Frrr: All is well, wish we have a wonderful AMA:)

Andrés M. | Satoshi Club: It’s an honor for us to have you here

Gold Rocket | Satoshi Club: We are also very excited about the upcoming AMA and happy to have you here today.😊

Andrés M. | Satoshi Club: For sure😃

Gold Rocket | Satoshi Club: Let’s start!

Introduce yourself please. How did you get to be involved in crypto & Samecoin?

Kurt – Samecoin.com: Personally, I’ve been involved in crypto since 2014, so almost 8 years now. Saw all bear and bull markets, saw projects become successful and some also die.

Guy Frrr: This is Frank, I’ve been involved in crypto for more than 4 years, and now is one of the core product designer of Samecoin project.

Kurt – Samecoin.com: The Samecoin team as a whole came together from friends of friends, so we see it all as a very great coincidence! All of the original team members consider themselves co-founders essentially and we’ve become a small family through this project over the past year.

Gold Rocket | Satoshi Club: Wow! You are an early bird! Excellent background for crypto business👏

Andrés M. | Satoshi Club: Yes, great background👍

Gold Rocket | Satoshi Club: Developers are the core of the project!👍

Small friendly crypto family ❤️

Also we would like to know about your team. Who is on the project team?

Kurt – Samecoin.com: You can find out more about our team in the team section at https://samecoin.com/ 🙂 We haven’t yet announced the whole team as we are slowly onboarding new additions these next weeks!

Andrés M. | Satoshi Club: Btw, Samecoin is brand new in the crypto space, and we’ve seen a few AMAs that the team is doing already, what other promotions have you planned for your community?

Gold Rocket | Satoshi Club: Thanks a lot for the clarification!

Guy Frrr: First of all, there will be more AMAs on the road in the next month.

Kurt – Samecoin.com: Great question! We are launching a new community incentive program to reward our early bird Samecoin community members.

Details of it will be available in our community channel @SamecoinANN, chat group @Samecoin and our Twitter. Please make sure you follow us there for more information.

Kurt – Samecoin.com: [14.05.21 21:01]

we also have an ongoing giveaway at https://gleam.io/3sjrq/samecoin-giveaway-1

Andrés M. | Satoshi Club: Let’s join Satoshiclubbers, great opportunity to win rewards🥳

Gold Rocket | Satoshi Club: Subscribe, Satoshi Clubbers! 😊

Andrés M. | Satoshi Club: Thank you so much for this great introduction. We have collected some community questions, ready to proceed?

Kurt – Samecoin.com: let’s rock!

Q1 from Telegram User @Pratze

Before Samecoin protocol launched, I read that you will be doing Private sale for the community. So can you tell us more about your private sale? When is it and what is the requirement to become whitelist if Samecoin private sale?

Gold Rocket | Satoshi Club: Thanks for the great intro guys!

Kurt – Samecoin.com: Yes, correct there will be a private sale!

At the moment we do not have any additional public announcements about it, but join our telegram channel to be the first in line to hear about any – @SamecoinANN

Andrés M. | Satoshi Club: Is there a whitelist to join?

Kurt – Samecoin.com: not for the time being

Andrés M. | Satoshi Club: Got it, please don’t forget to share with our community the coming announcements😃

Kurt – Samecoin.com: definitely will!

Andrés M. | Satoshi Club: Any additional info to add or we can proceed with the next question?

Kurt – Samecoin.com: also make sure to check out our Medium for more details on the scope of Samecoin – https://samecoin.medium.com/

next question!

Q2 from Telegram User @NataliyaKil

Samecoin brings us a dual system of cryptocurrencies to simplify payments and fees for online payments and more—aiming to revolutionize online payments. Samecoin ecosystem has been built with digital payments in mind, and offers a huge range of benefits that unite the best parts of both crypto and fiat. So, what does Samecoin’s dual system look like, what are its benefits for the user? What problems does it help to solve?

Guy Frrr: Samecoin is the utility token of the ecosystem. It’s a medium through which the Samecoin Protocol can enforce governance, reward users, incentivize activity, and provide a medium to raise capital.

SameUSD/SameEuro is backed by a reserve in the form of a basket of widely accepted stablecoins(USDT, USDC and BUSD). This means the size of the reserve can easily be verified by anyone, while making sure that no single stablecoin has a majority share of our reserves.

Done

Gold Rocket | Satoshi Club: Thank you very much for your answers!

Andrés M. | Satoshi Club: What is the main benefit for long term holders?

Guy Frrr: we have planned a serious products for Samecoin protocol which will make the Samecoin as the core value in these ecosystem

Kurt – Samecoin.com: Our adoption strategy focuses on making sure Samecoin has valuable use across several partner products. This makes Samecoin a clear long-term project which is set to keep growing as more products start supporting and incentivising the use of Samecoin and the family of stablecoins.

Andrés M. | Satoshi Club: Great, now can you tell us the tokenomics of Samecoin? How is the token distribution?

Guy Frrr: Like many other cryptocurrencies, the supply of Samecoin tokens is also limited. This means that, according to the Samecoin protocol’s rules, there will only ever be 100 million Samecoins.

64% of it will be rewarded to the community(Liquidity Providers & DAO), 36% will be distributed to Seed Fund Investor, IDO, IEO, Advisors and Team.

As a DeFi project, the 32% of Samecoin will reward those who contribute to the community. Based on the different smart contracts, the distribution also differs.

-Mint 4.6%

-Save 9.4%

-LP Stake 18%

Andrés M. | Satoshi Club: Thanks for share it, would you like to add something before the next question?

Guy Frrr: That’s all

Q3 from Telegram User @Johana0012

While the Samecoin ecosystem has a family of coins like SameUSD and SameEURO that have been built with stability in mind for the online payments industry, can the Samecoin utility token also be used to pay transaction fees? ? Can Samecoin be earned as a reward for using the system or purchased through fundraising sales? What are the main uses of Samecoin? Detail how many tokens Samecoin has at its disposal?

Kurt – Samecoin.com: Great question! Samecoin can be used as an alternative way to pay for transaction and trading fees on apps which we are building with our partners. SamePay is the first one we’ve announced so far.

Samecoin can be received as rewards for interacting with the Samecoin Protocol which is our DeFi platform that allows the minting of SameUSD, as well as savings, staking and governance. Samecoin can also be purchased directly during our fundraising rounds. As previously mentioned, Samecoin has a total supply of 100 Million.

Andrés M. | Satoshi Club: Btw, how we will be able to buy Samecoin and how is the LP mining process?

Guy Frrr: As the beginning, we will planned to launch the Samecoin-BNB LP pancake on BSC, and then you can buy Samecoin here.

And then LP Stake & mining will start in our dapp

Gold Rocket | Satoshi Club: Thanks for your answers! Ready to proceed to the next question? Or would you like to add something?

Guy Frrr: Thats all

pls next

Q4 from Telegram User @yellowchamp

Centralized stablecoins tied to USD are prone to the threat of regulatory conformity and seizure. In contrast, SameUSD is designed to keep itself completely decentralized. So ,can you tell us how does your platform maintain the decentralization of SameUSD coins? As a decentralized stablecoin, what are the advantages and benefits of using SameUSD as payment? Thank you

Guy Frrr: SameUSD’s reserve is composed of three kinds of popular stablecoins: BUSD, USDT and USDC.

Our mechanism makes sure that none of these three has a majority of the reserve, this way if regulatory issues happen to one of them, it can easily settle the reserve and make sure it’s made whole. This brings the major advantage of major stability as well as the ability for everyone to verify the size of the reserve.

Done

Gold Rocket | Satoshi Club: Thanks for your answers!

Andrés M. | Satoshi Club: Have your contacts been audited or is in process to be?

Guy Frrr: Audit is currently in progress! All progress available on the Certik page: https://www.certik.org/projects/samecoin

Andrés M. | Satoshi Club: That’s a renamed company, great job guys👏

Gold Rocket | Satoshi Club: Oh! This is great news!

I would like you to share information about your app SamePay with us

Because today people are used to working everywhere and this is really important

Kurt – Samecoin.com: More information about SamePay shall be released in the coming weeks actually! What we can say for the moment is to visit https://samepay.com/ 🙂

Gold Rocket | Satoshi Club: Thank you so much! I will definitely check it out! Ready for the next question?

Guy Frrr: yes next

Andrés M. | Satoshi Club: Btw, I read that you are launching a mobile wallet, is that right?

Kurt – Samecoin.com: yes

Yes – it is a partner product which is part of the Samecoin Ecosystem

Andrés M. | Satoshi Club: What is the benefit of the wallet? What make it different to the currents wallets in the market? any staking process there?

Kurt – Samecoin.com: SamePay’s long term vision is to simplify crypto wallets and payments for the everyday Joe. So far, crypto’s success at mainstream adoption has been hindered due to very complicated apps and processes that make buying crypto and spending crypto a very expensive hassle.

Gold Rocket | Satoshi Club: mass adoption😁

Kurt – Samecoin.com: SamePay brings forward a new kind of user experience never seen before in the wallet apps you may be knowledgeable about.

Andrés M. | Satoshi Club: Wow, great concepts, that’s why we need currently👏

Kurt – Samecoin.com: With its built-in DeFi features, real security, cheaper fees (through Samecoin) and great usability, SamePay can be the next step towards making crypto more widely used.

Gold Rocket | Satoshi Club: Yes! It’s sounds great 👍

Andrés M. | Satoshi Club: Is a mobile wallet, where can we download it?😃

Kurt – Samecoin.com: once released it will be available on the iOS app store and the google play store

Andrés M. | Satoshi Club: Oh will be waiting for it 🥳

Well, thanks for the answer, let’s proceed

Q5 from Telegram user @andrey_seleznov

I am interested to learn more about samecoin use cases. Samecoin can be used to reduce transaction fees, could you please clarify how this system functions, how exactly does samecoin help reduce the fees? I see cashback mentioned in your article that can be obtained by staking samecoin. How will users be able to get it, will cashback be generated for each transaction in your ecosystem or only for some specific goods?

Kurt – Samecoin.com: Essentially, any partnered product within the Samecoin ecosystem has the option to use Samecoin as an alternative way to pay for fees. For those early birds who get Samecoin in the early days, this will mean they’ll have the ability to pay cheaper fees through the price increase of Samecoin. We’re also in discussion for more partnered products, which means early birds will have a very good advantage in this long term adoption strategy of ours.

Correct, on the Samecoin Protocol users will have the ability to stake Samecoin as well.

all clear?

Andrés M. | Satoshi Club: Could you tell about those partnered products, how many are part of Samecoin ecosystem?

Kurt – Samecoin.com: We’ve already spoken about one in fair enough detail – SamePay

The second one (which we haven’t talked about much so far) is SameID – a decentralised identity technology

Gold Rocket | Satoshi Club: thanks a lot for great answers! ready for the last question of this part?

Andrés M. | Satoshi Club: More are coming, right?

Kurt – Samecoin.com: Yes, we are in talks with some potential partners at the moment. We’ll also be incentivising the community to develop their own products to support the Samecoin ecosystem.

Andrés M. | Satoshi Club: Btw, would you like to share with us your roadmap? We are excited to know what’s coming for Samecoin🥳

Kurt – Samecoin.com:We’ll be publishing our roadmap shortly after the conclusion of our audit by Certik 🙂 This will go together with announcement for our fundraising rounds as well as eventual release

Andrés M. | Satoshi Club: Great, thank you. Well, as our dear @GoldRocket27 said, is time to proceed with the last question of this AMA

Andrés M. | Satoshi Club: Ready to go?

Kurt – Samecoin.com: lets goo

Q6 from Telegram user @lzamg

It is known that currencies like the US Dollar are volatile assets and this might affect stablecoins tied to these assets. For example, the USDT token is always oscillating, not quite maintaining its value at $1. So I would like to know, how do the Samecoin stablecoins work to avoid this problem, since they are tied to volatile assets too? Is the SameUSD built to really maintain its value stable? What is the difference between your stablecoins and the ones that we already know, like USDT or DAI?

Guy Frrr: As you mentioned, USDT is always oscillating when encountering some bad news about regulatory. Thus, Samecoin protocol is choosing to peg to a bundle of stablecoins like USDT, BUSD, USDC. This has the benefit of insulating the stablecoin against shocks to a particular country, currency, commodity or stablecoin.

For a single type of stablecoin, pegging to a fiat currency with finite supply can eventually lead to problems of scale and management of risk, especially policy risk. However, pegging to a variety of stablecoins can circumvent this problem, creating a more stable value.

Andrés M. | Satoshi Club: @kurto0 @Frrrsu thank you so much for your clear answers, it has been a great time in this first part of the AMA, now is time to interact with our community members in the live segment🥳💪

Gold Rocket | Satoshi Club: Let’s start 🚀

Andrés M. | Satoshi Club: We will open the chat and you have to choose your 10 favorites and answer them

Would you like to share with us some useful links before we open the chat?

Gold Rocket | Satoshi Club: Follow our Announcement Channel here: https://t.me/SamecoinANN

Samecoin ecosystem makes the best of both worlds; #crypto and fiat. Make #payments easier, without having to worry about fluctuating currencies or costly #fees.

https://www.cryptopolitan.com/a-dual-system-of-cryptocurrencies-to-simplify-the-core-components-of-payments-and-fees/

Kurt – Samecoin.com: Make sure to visit https://samecoin.com/ for all the details on our project!

Guy Frrr: Also you can follow our Twitter for any news about Samecoin here:

https://twitter.com/SamecoinCom

Gold Rocket | Satoshi Club: Thanks for sharing👍

Kurt – Samecoin.com: Join our telegram group for discussions and announcements everyday! https://t.me/Samecoin

Part 2 — live questions from the Telegram community

Q1 from telegram username @vedamatrix

Where can I buy Samecoin right now did you list your tokens anywhere and where?

Guy Frrr: The IDO info will be announced after the conclusion of our audit by Certik. Pls follow our twitter for any updates:

https://twitter.com/SamecoinCom

Q2 from telegram username @Guandog

USD and EUR are your only targets? What other FIAT currency could you see soon? Could it be from emerging markets too?

Kurt – Samecoin.com: Yes, at the moment USD and EUR are our only targets. However, we are looking for opportunities in a lot of emerging markets, especially those who for several reasons do not have access to good banking structures or are more crypto-friendly.

Q3 from telegram username @alptrader

You mentioned that there will be 100 million Samecoins but how much sameusd and sameeuro will be minted?

Kurt – Samecoin.com: Since they are stablecoins, the total circulation of SameUSD and SameEuro will be 1:1 with the size of the reserve.

Q4 from telegram username @smelekin

Hello @kurto0 Do you still hold any coins that you buy when you involved in crypto at 2014?

Kurt – Samecoin.com: Bitcoin!

Q5 from telegram username @boradam

I couldn’t find any information about Samecoin on coinmarketcap and coingecko. When will you list Samecoin on coinmarketcap and coingecko?

Guy Frrr: After the Samecoin released on BSC, we will see them on cmc and coingecko soon.

Q6 from telegram username @Indomiekuy

Samecoin is a stablecoins project built with digital payment mindset.i read that you have feature to pay same as fiat currency, can you tell more about this?

Kurt – Samecoin.com: Our mission focuses on making crypto easy to use as an actual currency. The only real way to make this possible is to make it as easy to use as fiat, through apps which are easy to use and proper, easy ways to purchase crypto without the headaches you may see on some platforms.

Q7 from telegram username @cryptonation2

Is your project restricted on any regions or anywhere from the globe are allowed?

Kurt – Samecoin.com: Samecoin is available for anyone with an internet connection 🙂

Q8 from telegram username @newtain01

What really makes you unique and different from other projects

Guy Frrr: Focus on the ecosystem build of stablecoin like SamePay

Q9 from telegram username @doithay1617

How do you see the future of Stablecoins? @kurto0

Kurt – Samecoin.com: We see them as the best option to replace fiat at the moment. While there are clear risks involved in them (this is what we’re trying to solve through a verifiable, decentralised reserve), they have provided the best innovations in crypto for the past 4 years and will continue to do so.

Q10 from telegram username @messilolz

Are you an experienced team who will never abandon this project and how do you convince new investors?

Guy Frrr: Just as we believe that BTC and blockchain will bring many changes to the world, we also firmly believe that Samecoin can contribute to this change.