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Samecoin amassed $2 million TVL in 1 hour

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Since it first gained popularity in 2019, the Total Value Locked (TVL) has become an essential metric for measuring the value of assets locked within a protocol in the DeFi space. It gives an insight into the health of the DeFi application and yielding market and is divided into five categories – Lending, Dexes, Derivatives, Payments, and Assets. Each category provides a different outlook on the TVL calculation and its interpretation.

The Samecoin Protocol is a family of stablecoins (SameUSD, SameEUR, etc.), a utility token (SAME), and applications (SameID and SamePay) to improve the adoption of cryptocurrencies in making daily transactions. Each component of the Samecoin ecosystem was designed to provide a secure, fast, and easy-to-use solution for day-to-day payments and DeFi.

Upon launch on the 8th of June, 2021, Samecoin amassed $2 million TVL within the first hour. According to the TVL metric, these impressive numbers indicate that Samecoin is bracing for liftoff to the metaphoric ‘moon.’ The June launch follows the project’s roadmap. It is the first of a series of forward-thinking initiatives to promote the Samecoin ecosystem and community.

The third and fourth quarters of the year also promise to be a busy period for the Samecoin development team with the lineup of milestone events scheduled. Some of the biggest ones to look out for include the Samecoin IDO on PancakeSwap and the full protocol release coming up in Q4. Samecoin and SameUSD will also be listed on centralized exchanges (CEX) in Q4. Announcements are made on their official Twitter and Telegram

The Samecoin vision already looks attractive to investors and early adopters. But it’s even more interesting with some of their partners – GameART, AKA, iGamingGroup, and BlueOcean Gaming. Certik recently published their audited report of the Samecoin’s smart contracts.

The Samecoin Protocol will reward the majority of its 100 million Samecoin to the community. These are all efforts to foster the adoption of the protocol and reward community members for participation within the ecosystem.

Samecoin is a fresh start for another industry-disrupting protocol focused on adoption and real utility, and it offers you ample opportunity to be among the first to the party. There is no doubt that Samecoin is here to stay. The question is, ‘what story will you tell about this moment?’ 

Disclaimer: This is a paid post and should not be treated as news/advice.

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.