Burns and Donations. And growing up.
Hello world! SAMO is slowly growing up and it’s getting ready to tackle some more serious subjects. So, from now on, when we have something not-so-memey to talk about, you will be able to find us right here, on our Medium blog.
Even though SAMO started as a memecoin, if we want to stick around during periods where being a “dog coin” isn’t as cool, we have to become way more than that. And lately, we have been working hard on making that happen. In the following weeks we plan on presenting our plans, tell you about how you will be able to use SAMO and hopefully make you love the cutest dog on Solana even more.
The first subject we want to address is something that was announced a week ago: the community vote about donating part of the “Sam wallet” to FTX Foundation. As you all know, the initial plan was clear: burn the full amount, just as we did the previous two times. However, we decided to offer the community a choice. We wanted to use this opportunity to explain why.
The initial SAMO coinmetrics and roadmap were never really refined to give the token more purpose and overall, better value to the community. For SAMO to sustain itself as a project in the long run, changes will have to be made. However, we want to reassure everyone that we will never do anything that would result in the token’s value decreasing and this is why we want to clarify why we came up with the donation.
Instead of burning all the planned tokens, the idea was to spare a portion of them and donate to the FTX Foundation for Charitable Giving. We believe that such a decision would have a much more powerful impact by doing two important things:
Firstly, helping people in need. It is with the support from people like us that actual help can be provided. Let us not forget that the profound goal of crypto is to help people free themselves.
Secondly, gaining acknowledgement and recognition as a benevolent community from people in the Solana ecosystem, the FTX platform and possibly beyond, thus providing greater value to the project. Our cutest dog would find itself in front of some new eyes. Some people that never heard of SAMO before would now learn about this great Solana token that is trying to help and give back.
We would not be proposing changes if we ourselves did not believe they would be beneficial for everyone involved. We will always have our holders’ best interests at heart and will never implement any change single-handedly. This is the reason why we wanted you to cast your vote in the poll regarding this proposal and say your piece, and we will honor your decision.
SAMO Army, we would be proud to show the world that SAMO wants to help. And being able to say our community made that decision would mean even more.
