$SOMI Somnia Network is a high-performance, EVM-compatible Layer-1 blockchain designed to power real-time applications such as gaming, metaverses, and decentralized social platforms. Launched in 2024 by the Virtual Society Foundation, Somnia supports over 1 million transactions per second (TPS) with near-instant finality, thanks to its MultiStream Consensus, optimized sequential execution, and custom ICEdb database architecture .

The SOMI token is the native utility token of the Somnia Network, playing roles in:

Gas payments for network transactions

Staking and validator rewards

Governance participation

Built-in deflationary mechanisms, including burning 50% of gas fees to encourage long-term value accrual .#BNB_Market_Update