SOMM

Sommelier price 
SOMM

$0.02892  

3.73% (1d)

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Sommelier statistics
Market cap
 

0.00%

$8,558,763
#2959
Volume (24h)
 

4.24%

$555,424
#1377
Volume/Market cap (24h)
 
6.49%
Self-reported circulating supply
 
295,934,307 SOMM
59.19%
Total supply
 
500,000,000 SOMM
Max. supply
 
500,000,000 SOMM
Fully diluted market cap
 
$14,460,580
SOMM to USD converter
SOMM
USD
Price performance
24h 
Low
$0.02869
High
$0.03007
All-time high
Feb 28, 2023 (a year ago)
$0.4163
-93.05%
All-time low
Jul 16, 2024 (5 days ago)
$0.01712
+68.95%
See historical data
Popularity
In watchlists2,954x
4130th / 10.0K
Self-Reported Tags
CosmosShow all
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About Sommelier

What is Sommelier (SOMM)?

Sommelier is a non-custodial, cross-chain platform for executing intelligent DeFi vaults (Cellars). Community members can create Cellars that execute on an advanced DeFi position through smart contracts. Cellars are powered by Strategy Providers (SPs) who develop trading strategies and send the recommended actions to the Sommelier Validators to be executed on the Cellar with the intention of gaining yield.

Cellars can be strategies like: A portfolio of BTC and ETH that is rebalanced based on price trends that machine learning algorithms identify An NFT trading strategy that leverages Twitter sentiment around particular collections A strategy that hedges liquidity provision on DEXes

Sommelier employs a unique architecture consisting of the Sommelier Cosmos SDK blockchain, an off-chain execution environment that keeps strategies private while allowing them to leverage a wide variety of off-chain data modeling techniques, and one of the best performing ETH bridges. Strategy instructions are passed across this bridge to reposition assets in Cellars. This bridge is also being expanded to allow access to other chains (like Polygon, Avalanche, etc) so strategies are not tied to just high gas ETH markets.

Sommelier aggregates and batches transactions, thereby reducing gas fees, providing an attractive alternative to Ethereum’s high transaction costs. As for security, Sommelier uses a decentralized governance mechanism run by validators, ensuring state-of-the-art safety of user funds. Validators pass strategy instructions across the bridge, but users’ assets are never moved across it, instead being deployed directly into Cellars. Further, Cellars are non-custodial, meaning that users can withdraw their assets at any time, while strategy providers never have ownership of those assets.

SOMM is the native utility token that is used for:

*Securing the proof of stake blockchain *Fees for processing transactions *Running validator nodes on the network via staking SOMM tokens *Governance votes to determine which Cellars to admit for deployment on the platform and how network resources are allocated *Distributing a portion of the real yield that Cellars generate to stakers

How Many SOMM Tokens Are There in Circulation?

Who Are the Founders of Sommelier?

Where Can I Buy Sommelier (SOMM)?