SameUSD is an integral part of the Samecoin ecosystem, and its flagship stablecoin. This brings all the benefits of a digital currency that’s tied to the stable value of the world’s most popular fiat, USD through a basket of other famous stablecoins—the strongest store of value in history.
One of the problems associated with digital assets like Bitcoin and ETH is how volatile they are. Prices can fluctuate dramatically every single day. This means most major cryptocurrencies are seen by holders as assets and investments, rather than something they’d be happy to use as a currency on a day-to-day basis.
SameUSD—A stable store of value that everyone can understand
SameUSD solves all of this, so holders can make quick and easy digital payments with a currency they know has a stable value. People don’t tend to worry too much about the fluctuations in the value of USD—it might only change a few fractions of a percent every day (unlike Bitcoin which can rise or fall more than 30% in just 24 hours). This makes it perfect as a stable store of value and something users are confident enough to spend for regular purchases and payments.
More and more people are enjoying the benefits of digital payments with cryptocurrencies every day, but those newcomers to crypto can sometimes be daunted or put off by the extreme volatility of BTC. It can be hard to understand exactly how much BTC you’ve got, especially when working in fractions like 0.00135 BTC. It’s difficult to know how much that is worth right now, and even more complicated when you have to start wondering what it’s going to be worth in a few days’ time.
SameUSD solves all of this. Everyone understands the value of a USD. While crypto might be the future, the dollar is still the most stable store of value around. Not only is it stable—it’s easy to understand. For everyone. That makes it ideal for newcomers to the crypto space who want to enjoy the benefits of digital payments and hold a digital currency but are simply overwhelmed by everything they need to learn to start trading with BTC or ETH.
SameUSD is easy to use to send money and make online payments. It’s also easy to use in exchanges when trading for other cryptocurrencies like BTC, as it helps users avoid all the complicated regulations and requirements that are sometimes difficult to navigate when you want to buy or sell crypto with fiat currencies. So you get the same stable store of value, but without the complications of using actual fiat currencies.
SameUSD is also backed by a reserve of other stablecoins, making it easier to verify and more secure than other stablecoins that are backed by actual fiat. The risk is divided among multiple stablecoins. The transparent reserves of SameUSD’s holdings can be verified on the smart contract.
The future of the Samecoin ecosystem
While SameUSD is the flagship stablecoin in the Samecoin ecosystem, it’s just the beginning. Over time, Samecoin aims to launch even more fiat-backed Samecoin, such as SameGBP and more, making it easier for people across the planet to hold a strong store of value they can understand.
Currently, Samecoin itself acts as the utility token. Holders can enjoy reduced fees and staking benefits from keeping some Samecoin. But SameUSD and the extended family of stablecoins will be the spendable currency.