HomeCOINSWhat Is Somnium (SOM)? Complete Guide Review About Somnium.

What Is Somnium (SOM)? Complete Guide Review About Somnium.

What Is Somnium (SOM)?

The Somnium token is a simple DeFi utility token that seeks to address some of the issues and concerns that investors may have with existing tokens. The token has been designed to power the platform which is currently being developed by the team with the aim of providing innovative solutions to facilitate real world DeFi transactions. They are big believers in the principles of decentralization and transparency that blockchain technology has the potential to bring to finance.

At Somnium recognize that there are still a number of practical obstacles that need to be overcome before the full benefit of DeFi can be realised. This is why are focusing your efforts on developing key technology that will allow users to gain the benefits of using DeFi which up until now have remained largely theoretical. They wanted to build a fairer, more transparent token and a platform with which to tackle real world DeFi problems.

Somnium Storage Key Points

Coin BasicInformation
Coin NameSomnium
Short NameSOM
Circulating SupplyN/A
Total Supply100,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

Somnium Token

The Somnium token has been carefully designed to be a simple, fair and decentralised token that runs on a completely transparent protocol with zero tax. In addition to this, the token has been created for use with exciting future applications operating on the forthcoming platform.

Somnium Platform

The platform, which is currently in development, will comprise number of blockchain applications built on the Binance Smart Chain. It will allow users to create and interact with custom smart contracts through an intuitive web interface. The initial launch of your platform will allow users to create auto balance release smart contracts to help bring assurance to multi-party DeFi transactions.

Somnium token

  • Fair: All holders of Somnium will be treated the same, with no unfair advantages for the development team.
  • Decentralised: No external interference with the token smart contract after launch – it will be self governing with renounced ownership and rely solely on the code contained already within the smart contract.
  • Transparent: The source code for your token smart contract will be available to view online.
  • Simple: The functionality of the token is easy to understand. There are no “auto” features e.g. burns or liquidity pool (LP) contributions.
  • Inclusive: The Somnium team are strong advocates of inclusion and equality. They are supporters of women in technology, with more than half of your team made up of women. They will build upon this with initiatives during 2022.
  • Secure: The liquidity pool is locked and the token has renounced ownership making the token completely “unruggable”.

Fair launch and token allocation

Somnium is a ‘fair launch’ token, with no investment token allocation for the team, no pre-sale, no ‘air drops’ and no early investor or developer advantages such as exemption from fees. Everybody has an equal chance to buy with 80& of tokens added to PancakeSwap for purchase by the community and the development team. This has the power to expand and grow, with 20% of tokens held back for platform development and exchange listings. This allocation will be distributed across multiple secure wallets to be used exclusively for platform growth.

Locked liquidity

Ownership of the Somnium liquidity pool has been sent to a time-lock smart contract on Trust Swap for 3 years, protecting against ‘rug pull’. The team has the option of extending this time period but they cannot decrease it. This fixed 3-year time period has been selected to allow investor liquidity to pool enough to give sufficient confidence in the market. This period will be reviewed annually and may be extended.

Nile Is Very Old Author At Wootfi Blog . We Loves To Write About Altcoin , ICO & Defi . In Free Time He Loves To Play Football .