Somnia, a revolutionary Layer 1 blockchain designed for on-chain consumer applications, has recently secured up to $270 million in combined funding from Improbable and MSquared (M²). This significant investment comes at a pivotal moment for Somnia, as the platform prepares to launch its testnet and showcase its potential for widespread adoption in the Web3 space.
Somnia Devnet Performance
During its Devnet phase, Somnia achieved remarkable performance milestones. The platform demonstrated the capability to process 1.05 million ERC-20 token transfers per second and execute 300,000 NFT mints per second, with block times of around 100 milliseconds. Additionally, Somnia successfully processed 50,000 Uniswap trades per second using 100,000 user accounts, showcasing its ability to handle large-scale applications effectively.
Improbable’s Backing Reflects Confidence
Improbable’s investment in Somnia reflects a strong vote of confidence in the blockchain’s potential to drive Web3 adoption, particularly in the realm of real-time, scalable on-chain games. Herman Narula, CEO of Improbable, emphasized the importance of infrastructure capable of supporting real-world scale, highlighting Somnia’s unique capabilities in this regard.
Narula stated, "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."
Paul Thomas, Founder of the Virtual Society Foundation, expressed optimism following the Devnet results, stating, "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."
Multi-Stream Consensus for Sub-Second Finality
MSquared (M²) has announced plans to integrate Somnia’s blockchain into its network of metaverses, positioning Somnia as a key player in enabling real-time, on-chain interactions in immersive virtual worlds. One of Somnia’s standout features is its multi-stream consensus mechanism, which aims to achieve lightning-fast block finality (over 1,000,000 transactions per second) while remaining compatible with the Ethereum Virtual Machine (EVM).
This innovative approach minimizes latency and reduces transaction costs, making it an attractive option for developers seeking to create consumer-focused applications. With the backing of Improbable and MSquared, Somnia is poised to make a significant impact in the Web3 space and drive the next wave of blockchain innovation.