What is Somnia (SOMI)?
Somnia is a Layer 1 blockchain built to handle large-scale, real-time applications, including gaming, metaverse platforms, and decentralized social networks. It is fully compatible with the Ethereum Virtual Machine, allowing developers to run existing Ethereum-based tools and smart contracts with minimal adjustments. The network was developed to address performance challenges in blockchain systems and has demonstrated throughput of more than one million transactions per second with low latency and near-instant finality.
The project introduces several innovations, such as MultiStream consensus for parallel processing, a custom database called IceDB for faster data access, optimized EVM execution, and advanced compression methods. These technologies are designed to improve scalability, reduce transaction costs, and support high-throughput applications.
SOMI is the native token of the Somnia network. It is required to pay for transaction fees, including transfers and smart contract interactions. Validators must stake SOMI to operate nodes and secure the network, while holders who do not run validators can delegate their tokens to support node operators and earn a portion of rewards. The token will also enable participation in governance, where holders will be able to vote on network-related decisions.
Information about the founding team of Somnia has not been publicly shared.
The total supply of SOMI is 1B tokens, with 160.2M in circulation at launch, making up about 16.02% of the supply.
SOMI is listed on Binance for trade and purchase. The current price of SOMI is available and updated in real-time on Binance.