Baby Samo Coin

Baby Samo is a meme coin. Meme tokens are based on internet memes, events, and influencers. According to its website, the token's primary aim is to add value to the Solana NFT ecosystem by filling the gaps between NFT technology and decentralized finance (DeFi). The coin claims that its positive impacts will spread into the real world through charitable donations to not-for-profit organizations.

According to its litepaper, the platform launched a 10,000 unique NFTs collection at the time of genesis. These NFTs serve as the token's store of value since the NFTs could be exchanged and burned for fixed 911,161 tokens anytime. Therefore, the token seeks to solve the problem of illiquid NFTs, as the holders can burn their NFTs for BABY tokens anytime.

BABY is the native token of the platform. The token is primarily used for transactions and trading NFTs. For the tokenomics, 50% of the token's distribution is kept for the core team, and the remaining half would be vested to the team weekly in increments of 5%. Additionally, 40% of the tokens are reserved for the NFTs while the remaining tokens are kept for staking rewards exclusive to Genesis NFT holders.

The project believes in giving back to society and therefore supports multiple charities. For this, the platform aims to donate token's 10% of minting proceeds and 50% of royalties to charities.

The coin's genesis took place in October 2021. The token was launched on November 8, 2021. The token's core team includes seven people. The token's total supply is 10,000,000,000.

An airdrop was carried out with an allocation of 10% of the token's total supply. In the airdrop, 100,000 tokens per person were offered and the rest were burned.

Token burning refers to the practice of intentionally sending the token to an unusable wallet address for it to be eliminated from circulation. This burn address is not assigned and could be accessed by anyone. The practice is followed by cryptocurrency developers to decrease the supply and inflate prices.