The SOMI currency (often referred to as Somnia) is a digital currency born with a new next-generation blockchain network. It is not just a small token, but part of a Layer-1 blockchain aimed at improving the speed and efficiency of transactions and providing a robust infrastructure.
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🪙 What is SOMI?
SOMI is the native digital token of the Somnia network, which is:
A Layer-1 blockchain network compatible with EVM (like Ethereum) that supports smart contracts.
Designed to handle over a million transactions per second with finality confirmation in less than a second, and very low fees.
Aiming to support applications such as gaming, the metaverse, and decentralized social applications.
🔹 Operating model: The network operates on an architecture called 'MultiStream' to separate execution, data availability, and consensus to speed up performance and reduce costs.
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📈 Prices and market cap
The price of SOMI fluctuates constantly in the markets, but it usually trades around ≈ $0.22 – $0.24 per piece.
The market cap of SOMI is in the tens of millions of dollars with notable daily trading.
The highest price reached was around $1.92 at its historical peak, then it fell afterwards.
📊 Note: Markets are volatile, and prices can vary significantly based on daily fluctuations.
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📍 Where can it be traded?
SOMI is listed on several centralized digital trading platforms (CEX), including:
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📌 Uses of the SOMI token
🔸 Transaction fees: Used to pay network fees on Somnia.
🔸 Incentives and rewards: Can be used in incentive mechanisms within the network.
🔸 Staking (may be supported): Some networks support staking tokens for rewards; check Somnia's terms in its official resources.
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⚠️ Tips and warnings
📍 High price volatility: As with most cryptocurrencies, prices can rise and fall rapidly.
📍 Check official information: Before any investment, read the whitepaper and the project's goals and risks.
📍 Be cautious of marketing campaigns: Sometimes there are promotional campaigns or airdrops to attract investors' attention, but they are not investment advice.
📉📊!