Binance's New Futures Contract Fuels Speculation Around Gaming-First Blockchain

Binance has announced the launch of a perpetual futures contract for the native token of Somnia, SOMI. The SOMI/USDT perpetual futures contract will begin pre-market trading on August 25, 2025, at 09:30 UTC. This listing has increased attention on SOMI, which is the native asset of Somnia, a high-performance, EVM-compatible Layer-1 blockchain platform focused on Web3 applications in gaming and entertainment [1]. The contract is USDT-settled and available for trading 24/7, with a maximum leverage of 5x for traders [1].

The SOMI token has a total supply cap of 1 billion units. It is designed to support various blockchain functions, including gas fees, staking, validator rewards, and future governance mechanisms within the Somnia ecosystem [1]. The platform's emphasis on gaming and entertainment aligns with a growing trend in the blockchain industry to develop specialized infrastructure for high-traffic use cases.

In the pre-market phase, the mark price for the SOMI/USDT contract will be calculated using a 10-second trade average, updated every second [1]. Additionally, the funding rate structure includes fixed rates during pre-market trading, offering traders a transparent mechanism for managing exposure during the initial trading period.

The timing of the listing is significant, as it coincides with broader developments in the crypto market. In recent weeks, Binance has also made organizational updates, including the appointment of SB Seker as its new APAC head to oversee regulatory engagement. This appointment signals the exchange's ongoing efforts to strengthen its operational footprint in the Asia-Pacific region [1]. While the SOMI futures contract is distinct from these broader strategic moves, the context highlights Binance’s active approach to expanding its product offerings and global reach.

The addition of SOMI to Binance’s futures trading platform underscores the exchange’s role in driving liquidity and market adoption for emerging blockchain projects. As a high-performance, EVM-compatible Layer-1 solution, Somnia is positioned to compete with other blockchain platforms in the gaming and entertainment sectors. The availability of futures trading may attract both institutional and retail investors interested in leveraging price movements without holding the underlying asset.

Analysts suggest that the listing of SOMI on Binance could lead to increased volatility and trading activity in the short term. However, the long-term impact will depend on the platform’s ability to attract developers and users within the gaming and entertainment space. The fixed funding rate structure during pre-market trading is expected to help manage price discovery and reduce early-stage market shocks.

Source: [1] Binance Listing Puts Somnia (SOMI) on the Spot (https://cryptorank.io/news/feed/19334-binance-listing-puts-somnia-somi-on-the-spot)