What is the SOMI token? The decentralized virtual social ecosystem Somnia
Somnia is a layer 1 blockchain designed to meet the needs of large-scale real-time applications, such as the metaverse, on-chain games, and decentralized social platforms.
Developed by the Virtual Society Foundation (VSF) with support from Improbable, Somnia leverages Multistream Consensus technology and architectural improvements to achieve superior performance compared to many current networks.
Binance Futures opened trading for the SOMIUSDT perpetual contract pre-market from 16:30 on August 25, with a maximum leverage of 5x. SOMI recorded a price of 1.4 USD on Binance Futures Pre-Market, receiving positive feedback from the community.
The SOMI token launches with the goal of becoming the backbone of the Somnia network, providing a unique economic model with staking, payment, and governance features.
- Token name: SOMI
- Symbol: Somnia
- Total supply: 1,000,000,000 SOMI
Distribution
- Community: 27.925%
- Ecosystem: 27.345%
- Team: 11%
- Advisors: 3.58%
- Launch partners: 15%
- Investors: 15.15%
The token plays an important role in the ecosystem:
- Staking: Validators use SOMI to operate nodes on the blockchain, while holders can delegate tokens to node providers to meet staking requirements.
- Payment: All transactions on Somnia use SOMI to pay for gas fees.
- Governance: In the future, SOMI will allow token holders to participate in decisions regarding the development direction of the network.