Somnium seeks to allow everyday web users to make use of blockchain technology though accessible blockchain applications. These blockchain applications will constitute the Somnium platform and will allow users to create and interact with smart contracts though a simple and intuitive web dashboard. We believe that there is a strong appetite for these applications and that nothing exists like this on the market at the moment.
Though we will increase the scope of the capabilities of these smart contracts over time, initially we are focusing on removing the need for trust when multiple parties need to transfer funds to a single entity using blockchain. This will be useful in cases where the release of funds is contingent upon conditions that can be pre defined, for example the total balance of the contract reaches a certain amount. The interactive smart contract will allow multiple users to deposit funds into a Somnium smart contract, and the funds will only be released to the specified 3rd party once these predefined conditions are met.
The Somnium platform is currently under construction by our small but experienced team. Use of the Somnium platform will require Somnium tokens. The Somnium token is a simple BSC utility token. The token does not use tokenomics, i.e. there is no tax, no auto-LP and there are no static rewards. We have deliberately not included any burn mechanisms or anything to complicate the token as we want this to be a simple, easy to understand utility token for use on Somnium applications. The token is built around the principles of fairness and transparency.
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