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Somnium is designed to enable everyday web users to use blockchain technology through accessible blockchain applications. These blockchain applications will form the Somnium platform and allow users to create and interact with smart contracts through a simple and intuitive web dashboard.
Somnium is creating accessible blockchain applications to solve real-world DeFi problems through interactive smart contracts. Our automatic balance release smart contracts will provide innovative solutions for securing multi-party DeFi transactions.
Why Somnium?
Somnium strongly believes in the principles of decentralization and transparency that blockchain technology has the potential to bring to finance.
Somnium recognizes that there are still many practical hurdles to overcome before the full benefits of DeFi can be realized. That’s why they have focused on developing key technologies that enable users to reap the benefits of using DeFi, which has so far remained largely theoretical.
Somnium wants to build a fairer and more transparent token and a platform to solve real-world DeFi problems.
They are building their Somnium token and platform on principles of fairness, transparency, simplicity and security. This is partly due to frustration with the direction many other blockchain projects have taken, primarily the amount of central control over the development team’s token and technology. Even seemingly innocuous mechanisms like manual token burns centralize processes that are fundamentally supposed to be completely decentralized.
Platform
The innovative Somnium platform, currently under construction, will allow users to create automatic balance release smart contracts from a simple, intuitive dashboard.
These Somnium smart contracts will allow multiple parties to transfer cryptocurrencies between them, with balance release conditions subject to well-defined payment conditions. Our solution will allow users to create and interact with smart contracts using blockchain technology in a way that maintains security and transparency.
How it works
Somnium Token has been carefully designed to be a simple, fair and decentralized token that operates on a fully transparent protocol. In addition to this, Somnium tokens have been created for exciting future applications running on the upcoming Somnium platform.
Somnium Power
The Somnium token will be required to access our DeFi blockchain applications and will allow users to unlock the potential of the Somnium platform.
Fair
Somnium is a “fair release” token, with no tokens allocated to developers and no pre-sale. There is no marketing or developer wallet, which means everyone has an equal opportunity to buy Somnium.
No burns
Somnium cannot be burned or cast. This means that the number of tokens in circulation is forever fixed. The development team cannot influence the value by destroying the tokens according to the principle of decentralization.
Safe
Simple with no tax
Learned from tokens with overly complex token economics and created a simple and secure utility token that is easy for users to understand. There are no taxes, so you receive all the Somnium you buy.
Balanced
An artificial, unbalanced liquidity pool (LP) increase can negatively impact the market stability of the token. Somnium does not use an automatic liquidity feature, instead, in accordance with Somnium’s principles, we avoid human interaction with LPs in any way.
Principles
Somnium token is built according to the following principles:
Simple: The function of the token is easy to understand. There are no “automatic” features such as cash burn or liquidity pool (LP) contributions.
Fairness and transparency
Somnium is a “fair launch” token, with no tokens allocated to developers, no pre-sale, no “airdrops”, and no early investor or developer benefits such as fee waivers. Everyone has an equal opportunity to buy Somnium.
Max Supply: 100,000,000 SOM token