# Sam Bankmeme Fried > Sam Bankmeme Fried is a parody memecoin on the Solana blockchain-inspired by the events surrounding the collapse of the FTX exchange and its infamous CEO, Sam B... - Canonical URL: https://iq.wiki/wiki/sam-bankmeme-fried - Categories: Cryptoassets - Tags: Memecoin - Created: 2024-03-16T10:00:40.172Z - Last updated: 2024-03-16T10:00:40.172Z - Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki) --- **Sam Bankmeme Fried** is a parody [memecoin](https://iq.wiki/wiki/memecoins), with the ticker symbol $SBF, built on the [Solana](https://iq.wiki/wiki/solana-sol) [blockchain](https://iq.wiki/wiki/blockchain). It is a novel [crypto](https://iq.wiki/wiki/cryptocurrency) project that brings humor to the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) world while promoting community involvement and innovation.[\[1\]](#cite-id-obj5s5nreel)[\[2\]](#cite-id-oaxy3q4jki) In 2023, $SBF received a shoutout on Twitter from the verified [Dogwifhat](https://iq.wiki/wiki/dogwifhat-wif) account and regularly participates in $WIF community spaces.[\[3\]](#cite-id-nzulrrlmp9) # Overview Sam Bankmeme-Fried was launched on November 26, 2023, on the [Solana](https://iq.wiki/wiki/solana-sol) [blockchain](https://iq.wiki/wiki/blockchain), drawing inspiration from the events surrounding the collapse of the [FTX exchange](https://iq.wiki/wiki/ftx) and its CEO, [Sam Bankman-Fried](https://iq.wiki/wiki/sam-bankman-fried). It is primarily a meme coin but also offers Telegram marketing bots for the Solana ecosystem, including a crypto research bot, a multi-modal meme generator, and a raid bot called RaidQuest.[\[1\]](#cite-id-obj5s5nreel) ![1500x500 (3).jpg](https://ipfs.everipedia.org/ipfs/QmaMKye1wsdqevKiANUJHyYXKekNv8g2uNe1gosvrmsq7b)The [memecoin](https://iq.wiki/wiki/memecoins) serves as both a parody and a social commentary on the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) industry, particularly focusing on its risk management practices and the ethical implications of leadership within the sector. Initially founded by a group of individuals who later departed from the project, leading to a community takeover, Sam Bankmeme-Fried has achieved a 4-month track record of consistent community growth and engagement. Its success is attributed to a community-driven approach characterized by active engagement through social media and involving the community in platform development decisions.[\[4\]](#cite-id-fjk98hs4jtq)[\[5\]](#cite-id-wg65kvnnqrg) ## Community and Culture The Sam Bankmeme-Fried project revolves around its community, known as "Sams." This community is not just an add-on but a core part of the project. Members of the $SBF community actively engage in the project's development and promotion, contributing to a collective narrative that blends elements of role-playing with [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency). The project is also known for its unique communication style, characterized by irreverent humor and a penchant for satire. This is most notably expressed through "prison journal" entries, fictionalized accounts written from the perspective of [Sam Bankman-Fried](https://iq.wiki/wiki/sam-bankman-fried) in a humorous and exaggerated tone. These entries serve as both a form of entertainment and a satirical commentary on the events surrounding the real-life figure and the broader cryptocurrency industry.[\[1\]](#cite-id-obj5s5nreel) # SAM AI BOT The Sam AI Bot is an AI-powered Telegram bot used for crypto research, community engagement, and later, on-chain analysis. It is currently in private beta, but free to use in its Telegram community. The bot is an uncensored AI model that can discuss [crypto](https://iq.wiki/wiki/cryptocurrency) and other financial topics not found in ChatGPT. It also offers Real-time data from top crypto and finance news to even the most obscure sources like 4chan's /biz/.[\[6\]](#cite-id-ghyjowheo7) ## # Tokenomics The total and maximum supply of the $SBF [memecoin](https://iq.wiki/wiki/memecoins) is 99,991,999. The tokens are fully distributed to the [liquidity pool](https://iq.wiki/wiki/liquidity-pool) and feature no taxes, allocations, or presale, emphasizing a fair distribution model. $SBF is available for trading on [Poloniex](https://iq.wiki/wiki/poloniex) and [Raydium](https://iq.wiki/wiki/raydium). On Raydium, it boasts the most active trading pair, SBF/SOL, and the largest daily trading volume. In the coming weeks, $SBF plans to conduct an airdrop for over 120,000 Solana Saga smartphone owners.[\[7\]](#cite-id-hdy6q2k39wf)[\[8\]](#cite-id-w61171g9aci) # Utility $SBF can be used across various Solana-based platforms including, Orca, Raydium, and Jupiter. Serving as a meme coin with [decentralized governance](https://iq.wiki/wiki/dao) features, $SBF is closely linked to the SBF DAO. This token plays a crucial role as the [governance token](https://iq.wiki/wiki/governance-tokens) for the SBF DAO, empowering holders to engage in key decision-making processes within the ecosystem. Beyond its [memecoin](https://iq.wiki/wiki/memecoins) status, $SBF offers a practical and valuable utility, enhancing its significance within the Solana ecosystem.[\[1\]](#cite-id-obj5s5nreel) # Technology Sam Bankmeme Fried ($SBF), is built on the [Solana](https://iq.wiki/wiki/solana-sol) [blockchain](https://iq.wiki/wiki/blockchain), a [smart contract](https://iq.wiki/wiki/smart-contract) platform founded by [Anatoly Yakovenko](https://iq.wiki/wiki/anatoly-yakovenko). Solana stands out for its innovative transaction verification method, which combines proof of stake with its unique proof of history system. $SBF's ownership structure is designed to prioritize decentralization. It includes full renouncement of ownership and zero creator and Token Update Authority balances. This approach sets SBF apart from other [memecoins](https://iq.wiki/wiki/memecoins), addressing concerns about centralization and giving the community a significant role in shaping its development.[\[4\]](#cite-id-fjk98hs4jtq)