Bithumb Introduces Somnia (SOMI) to KRW Market with Limited-Time Fee Waiver

Bithumb, a leading cryptocurrency exchange in South Korea, has officially announced the listing of Somnia (SOMI) on its KRW market, effective October 1. This move is accompanied by a promotional trading fee waiver to attract interest from investors for a limited time.

Trading Launch Details

The listing of Somnia (SOMI) on Bithumb marks an important addition to its offerings. The exchange confirmed that both deposits and withdrawals for SOMI will be available starting two hours after the public announcement, with trading set to begin at 4:00 p.m. KST on the same day. The initial reference price for SOMI has been established at 1,000 KRW. Investors can prepare for seamless trading as the project integrates into Bithumb's ecosystem.

Limited Fee Waiver and Trade Guidelines

As part of the launch strategy, Bithumb has announced a temporary fee waiver for all Somnia (SOMI) transactions conducted between the trading start on October 1 and 4:00 p.m. KST on October 3. This trading fee exemption creates a favorable window for investors to engage without incurring additional costs.

However, participants should note that despite counting toward membership level calculations, transactions during this period will not accrue benefits such as trading points or maker rewards.

In line with its commitment to transaction stability, Bithumb will implement specific trading restrictions during SOMI’s initial trading hours. For the first five minutes after trading opens, buy orders will be temporarily restricted. Meanwhile, sell orders must adhere to a price band of -10% to +100% relative to the established reference price. Additionally, only limit orders will be allowed for approximately the first two hours of trading. These measures aim to mitigate volatility and secure a smooth launch process.

Investor Advisory on Risk and Technical Notes

Bithumb has reiterated the importance of exercising prudence in cryptocurrency trading. Acknowledging the unpredictable and high-risk nature of virtual assets, the company stressed that investors could face significant capital losses. “Cryptocurrencies are inherently volatile,” stated the firm. “Investors bear sole responsibility for their trades and should thoroughly evaluate project information, including white papers, prior to engaging.”

A technical advisory specific to SOMI was also issued. Bithumb highlighted that SOMI operates on its own mainnet, and deposits through other networks are not supported. Careful attention is required to prevent potential deposit errors or other technical complications.

Strategic Implications and Final Considerations

The introduction of Somnia (SOMI) trading, coupled with the fee waiver initiative, highlights Bithumb’s efforts to strengthen user engagement while prioritizing market stability. This measured approach aligns with the exchange’s broader strategy to attract both new and seasoned investors in South Korea’s thriving cryptocurrency market.

While SOMI represents a new investment opportunity within the KRW market, users are advised to approach cautiously, given market volatility and associated risks. The combination of controlled trading parameters and a temporary fee incentive sets the stage for a balanced and responsible entry point for SOMI trading on Bithumb.