New-York, New-York, February 18th, 2025,
Chainwire
Somnia, the Layer 1 blockchain designed for high-demand consumer
applications fully onchain, has announced that Somnia’s ecosystem
will benefit from up to $270M in combined capital from Improbable
and MSquared. The strategic support from venture builder Improbable
provides Somnia with a welcome boost as it gears up for its
testnet launch.
Improbable’s support for Somnia follows the successful
completion of the Somnia Devnet which set new benchmarks for speed,
throughput, and user participation. Highlights included:
● 1.05 million transactions per second
for ERC-20 token transfers
● 300,000 NFT mints per second with an
average block time of 100 milliseconds
● 50,000 Uniswap trades per second,
leveraging 100,000 accounts to simulate real-world usage
Improbable’s decision to prioritize the Somnia ecosystem as part
of its venture builder capital allocation demonstrates its
confidence in the blockchain ecosystem Somnia is building and its
potential to drive mainstream Web3 adoption. Use cases for Somnia’s
high-performance chain include gaming, thanks to its architecture
that supports real-time, scalable onchain games.
Improbable CEO Herman Narula said: “The
future of digital economies depends on infrastructure that can
handle real-world scale – far beyond what most blockchains today
can achieve. We've spent over a decade solving complex distributed
systems challenges, and that expertise is what gives the Somnia
blockchain its spark. This is a gigachain we’re building, for
speed, efficiency, and real utility, and we’re fully committed to
supporting the ecosystem that will bring it to life.”
"The performance of the Devnet gives us
great confidence in what’s ahead for Somnia. We’re refining our
grant program and have several partnerships in the works to further
strengthen the ecosystem. We’re especially grateful to Improbable
for its unwavering support—both in building the Somnia blockchain
and in fostering the broader Somnia ecosystem." — Paul Thomas,
Founder of the Virtual Society Foundation.
In 2022 M² raised $150M from investors
including Andreessen Horowitz, SoftBank Vision Fund 2, Mirana, DCG,
CMT, SIG, and Ethereal Ventures. It has decided to both support the
Somnia project and to integrate the Somnia Blockchain into its
network of metaverses.
The additional funding provided by
Improbable in support of the Somnia ecosystem aims to help
catalyze its growth and maximize its prospects of attaining
significant real-world adoption.
About Somnia
Somnia is the fastest and most cost-effective EVM Layer-1
blockchain, capable of processing over 1,000,000 transactions per
second (tps) with sub-second finality. Somnia’s new multi-stream
consensus technology achieves sub-second block certainty and higher
transaction throughput. Sequential execution and compression
algorithms effectively handle high-density scenarios, increasing
the amount of data transferred between nodes by 10-20x. The custom
database IceDB achieves 15-100 nanosecond read/write times,
reducing transaction costs to less than a penny. This makes Somnia
an ideal platform for building large-scale, real-time applications
in games, social, metaverse, finance, and other fields, serving
millions of users, all on-chain, making EVM more efficient than
ever before.
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Contact
Michelle
Kang
mkang@virtualsociety.foundation
