How it works
The Somnium token has been carefully designed to be a simple, fair and decentralised token that runs on a completely transparent protocol. In addition to this, the Somnium token has been created for use with exciting future applications operating on the forthcoming Somnium platform.
Our Somnium token will be required to access our DeFi blockchain applications, and will allow users to unlock the full potential of the Somnium platform.
Somnium is a 'fair launch' token with no pre sale and no ICO. 80% of all tokens have been added to the LP for everyone to buy on an equal footing, including the development team.
Somnium cannot be burnt or minted. That means that the number of tokens in circulation is fixed forever. The development team cannot influence the value by burning tokens inkeeping with the principle of decentrilisation.
Simple with no tax
We have learnt the lessons from tokens with overly complicated tokenomics, and have created a simple yet secure utility token that is easy for users to understand. There are no taxes so you receive all of the Somnium that you buy.
Artificial, unbalanced liquidity pool (LP) additions can negatively impact the market stability of a token. Somnium does not use an auto-liquidity feature and instead, in keeping with the principles of Somnium, we avoid artificially interacting with the LP in any way.
Innovative and transparent
Our innovative Somnium platform, currently under construction, will allow users to create auto balance release smart contracts from a simple, intuitive dashboard.
These Somnium smart contracts will allow multiple parties to transfer cryptocurrency between themselves where the balance release conditions are contingent upon clearly defined payment conditions. Our solution will allow users to create and interact with the smart contracts in a way that maintains security and transparency, using blockchain technology.
We are hard at work on the Somnium platform and we look forward to launching the next stage of our project soon.
We have built our Somnium token on the following principles:
All holders of Somnium will be treated the same, with no unfair advantages for the Somnium team.
No external interference with the token smart contract after launch - it will be self governing with renounced ownership and so rely solely on the code contained already within the smart contract.
The source code for our token smart contract will be available to view online.
The functionality of the token is easy to understand. There are no “auto” features e.g. burns or liquidity pool (LP) contributions and there is no tax.
The Somnium team are strong advocates of inclusion and equality. We are supporters of women in technology, with more than half of our team made up of women. We will build upon this with initiatives during 2022.
The liquidity pool is locked and the contract has renounced ownership making the token completely “unruggable”.
Somnium is fair and transparent
Somnium is a 'fair launch' token, with no investment token allocation for the Somnium 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 the token. Somnium also has the power to expand and grow, with 20% of tokens held back for platform development and exchange listings.
- Verified smart contract, source published on GitHub
- No team/developer investment allocation
- LP locked on TrustSwap for 3 years protecting against "rug pull"
- Lock LP can be verified on TrustSwap
- Total amount of Somnium tokens fixed forever at 100,000,000
- Ownership of the contract is renounced so cannot be modified by anyone
- Renounced ownership can be verified on BscScan or BscCheck
We are big believers in the principles of decentralisation and transparency that blockchain technology has the potential to bring to finance.
At Somnium we recognise 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 we are focusing our efforts on developing key technology that will allow users to gain the benefits of using DeFi which up until now have remained largely theoretical.
We wanted to build a fairer, more transparent token and a platform with which to tackle real world DeFi problems.
We are building our Somnium token and platform in accordance with the principles of fairness, transparency, simplicity and security. This is in part the result of becoming frustrated with the direction many other blockchain projects have taken, principally in the amount of central control over tokens and technology given to the development teams. Even mechanisms as seemingly innocuous as manual token burns give centralisation to what should fundamentally be completely decentralised processes.