Somnia, a high-performance Layer 1 blockchain developed by Improbable in partnership with the Somnia Foundation, has officially launched its mainnet and native token, SOMI. This milestone follows an extensive six-month testnet phase that processed over 10 billion transactions, onboarded more than 118 million unique wallet addresses, and attracted over 70 ecosystem partners.
🚀 Mainnet Launch Highlights
Performance Metrics: Somnia boasts impressive capabilities, including the ability to process over 1 million transactions per second, sub-second finality, and near-zero transaction fees .
Validator Network: The network is secured by 60 validators, with notable support from infrastructure providers like Google Cloud .
Ecosystem Growth: Over 70 projects have joined the ecosystem, focusing on areas such as DeFi, gaming, and social applications.
💰 SOMI Token Utility & Economics
Total Supply: The SOMI token has a capped supply of 1 billion tokens.
Use Cases: SOMI is utilized for transaction fees, validator staking, and governance participation.
Deflationary Mechanisms: Half of all gas fees collected are burned, and 10% of the total supply is allocated to validator rewards, reducing inflationary pressures.
🌉 Cross-Chain Interoperability
Bridging Assets: Users can bridge assets from over 55 blockchains using Stargate Finance, with support for USDT, USDC, and wrapped ETH at launch. Wrapped BTC support is forthcoming .
Wallet Integration: The Somnia Browser facilitates easy wallet setup and interaction with the network, supporting MetaMask and Rabby wallets.
🛠️ Developer & User Onboarding
Grants & Incentives: A $10 million grants program is available to support developers, accelerators, and hackathons .
Airdrop Details: The first SOMI airdrop rewards early contributors, with a staggered unlock system to encourage continued engagement.
🔮 What's Next for Somnia?
Governance Rollout: As SOMI token distribution increases, the community will gain governance rights to influence network upgrades and policies .
Ecosystem Expansion: Plans include launching additional applications, enhancing cross-chain bridges, and expanding developer tools to foster broader adoption.
For users and developers interested in exploring Somnia's ecosystem, the Somnia Browser serves as a comprehensive hub for wallet setup, staking, bridging, and application discovery. With its robust infrastructure and growing ecosystem, Somnia aims to position itself as a leading platform for real-time, on-chain applications.
