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SoftBank-Backed Improbable Launches Somnia Mainnet and SOMI Token

Improbable's Layer 1 blockchain, Somnia, has officially launched its mainnet and introduced its SOMI token, marking a significant milestone for the company backed by SoftBank.

Summary

Improbable, with backing from SoftBank, has officially launched the mainnet of its Layer 1 blockchain, Somnia. Along with the mainnet, the company also introduced its native SOMI token, a key element in the ecosystem, signaling a new phase for the project in the digital currency space.

Terms & Concepts
  • Layer 1 blockchain: A Layer 1 blockchain refers to a base-level blockchain architecture that is responsible for handling all transaction processing, consensus, and data storage, without relying on any other network.
  • SOMI token: SOMI is the native cryptocurrency of the Somnia blockchain, designed to serve various functions within the ecosystem, including staking, transaction fees, and governance.