⚡ In an era where technical requirements for web 3 applications, games, the metaverse, and social networks are accelerating, the Somnia project and its native currency SOMI stand out as a first-generation Layer-1 solution that combines performance, scalability, and efficiency to build an infrastructure that allows large-scale real applications to operate directly on the blockchain at high speed.
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❖ What is Somnia (SOMI)? ❖
Somnia is a Layer-1 blockchain network, compatible with the Ethereum Virtual Machine (EVM), making it easier to transfer existing applications and smart contracts or develop them on this platform.
Its goal is to support real-time applications with very high transaction rates and a finality time of less than a second, making it suitable for gaming, the metaverse, and digital experiences that require instant responses.
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❖ Tokenomics and uses of the SOMI token ❖
Total fixed supply: 1,000,000,000 SOMI tokens.
The circulating supply at launch (TGE) is approximately 160,200,000 SOMI, which is about 16.02% of the total.
Airdrop: 30,000,000 SOMI tokens (approximately 3% of the total) have been allocated for Binance users qualified by certain programs.
The main benefits of the SOMI token include:
- Transaction fees (Gas fees) are paid in SOMI.
- Staking to operate the validated nodes (Validators) and maintain network security.
- Governance: Token holders participate in the future decision-making of the protocol.
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❖ Innovative mechanisms assisting Somnia's performance ❖
The MultiStream Consensus technology allows transactions to be executed in parallel to avoid congestion and reduce latency.
Low-latency database (IceDB) accelerates read/write operations and reduces response time.
The multi-consensus model and effective resource utilization to build a system that can withstand millions of users and high transaction volumes.
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❖ Economic models and market studies ❖
Deflationary Model: Approximately 50% of transaction fees are burned (i.e., permanently removed from circulation), which reduces the circulating supply over time and creates scarcity that may support value.
Careful scheduling of token distribution, so that teams, investors, and advisors are subject to vesting periods to ensure that no sudden mass selling occurs.
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❖ Challenges and potential opportunities ❖
Challenges: Proving actual performance under real usage, attracting developers, and building large applications that leverage the platform's capabilities, competing with other strong Layer-1 chains, as well as regulatory and adoption risks, especially in markets with strict regulations on cryptocurrencies.
Opportunities: If the platform succeeds in delivering on its promises of speed, performance, and capacity, it will be attractive for metaverse applications, gaming, and social media that demand an instant experience, and will be one of the pillars in the upcoming Web3 infrastructure. Also, involving Binance users as early partners enhances trust and adoption.
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❖ Conclusion ❖
⚡ SOMI acts as a promising asset in the blockchain landscape, as a type of infrastructure capable of supporting applications that require high speed and performance while considering transparency, fair distribution, and scarcity.
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🔶 SOMI: When high performance meets future demands in Web3 🔶🔶🔶
