Reef Finance announces Samecoin is coming to Reef Chain
Reef Finance and Samecoin are announcing today the first stablecoin to come to the Reef Chain ecosystem! Samecoin’s addition to the Reef Chain ecosystem makes it the first stablecoin on the blockchain.
Samecoin is a decentralized stablecoin protocol that allows the average person or business owner to perform seamless, digital payments. The protocol runs on its own utility token, SAME, and has a family of stablecoins including SameUSD (SUSD) and SameEuro.
The Samecoin ecosystem is made up of several components: Samecoin Finance, Infrastructure, and Governance.
Samecoin Finance carries the protocol’s stablecoins, while infrastructure contains SamePay, a non-custodial crypto wallet app with a social payments platform that makes trading, sending, and receiving crypto easy.
Samecoin will be operated as a decentralized autonomous organization (DAO) using vSAME tokens for voting. As a result, Samecoin is governed entirely by the protocol’s community. Users will be able to mint Samecoin, SameUSD and SameEuro. Samecoin is already integrated with Binance Smart Chain (BSC) and Hoo Smart Chain (HSC).
It should come as no surprise that Samecoin is initiating its integration with Reef Chain, Reef Finance’s new Ethereum VM-compatible blockchain built on Substrate. Reef Chain allows dApps to access liquidity across ecosystems such as Ethereum, Binance Smart Chain, Polkadot, Cosmos, and Avalanche through the Liquidity Bridge and Solidity feature.
Liquidity Bridge allows the transfer of existing DeFi assets such as Samecoin from Ethereum to Reef Chain. On the other hand, the Reef Chain’s Solidity feature allows developers to port their existing dApps from Ethereum to Reef Chain without modifying the protocol’s code.
While Samecoin already enjoys BSC’s scalability, the protocol’s integration with Reef Chain enables SameUSD and SameEuro to access an Ethereum VM-compatible blockchain, a framework that allows protocols running as DAOs to perform upgrades without any forks, fast processing speeds with near-zero gas fees, and Reef Chain has network bridged the ERC 20 and BEP 20 tokens, making the ecosystem accessible to more users.
Reef Finance and Samecoin look forward to bringing the entire Samecoin ecosystem of tokens and dApps to Reef Chain over the coming months, and to see how users engage with Samecoin as a community governed DAO.
About Samecoin
Samecoin stablecoins provide one thing that leading cryptos have failed to, flexibility. With SameUSD and SameEuro, the Samecoin Protocol fixes volatility issues, allowing businesses to accept crypto payments in online transactions. Samecoin’s SameUSD is backed by a reserve of several other stablecoins to guarantee its stability. The SamePay payment wallet is enhancing crypto adoption by simplifying online crypto payments for the ordinary user. Even better, the upcoming SameID user account technology will allow users to access their SamePay wallets with a single unique ID that can be used to login on multiple sites.
About Reef Finance
Reef Finance is building Reef Chain, a DeFi blockchain built using Substrate Framework. Reef Chain provides high scalability, enabling almost instant low-cost transactions, and supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase. Our vision is to make DeFi easy for everyone to invest in and build DeFi applications on top of Reef Chain.
Join us:
- 🌎 Website: https://reef.finance/
- 🐦 Twitter: https://twitter.com/ReefDeFi
- 📢 Telegram: https://t.me/reefdefi
- 📚 Medium: https://medium.com/reef-finance
