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

Right now there are 500 million SOMM tokens that exist.

Sommelier launched its mainnet in September 2021 with 500 million SOMM tokens created at genesis. 30% of that supply is in the on-chain treasury--the community pool--20% are held by the Sommelier foundation, 30% are held by investors, and 20% by the team building Sommelier. Since launch, Sommelier has had zero inflation. This is because SOMM stakers can earn real yield from the performance of Cellars on the platform, which is intended to be a more sustainable incentive mechanism than inflationary staking rewards, with these platform fees growing linearly with the amount of liquidity in Cellars.

Sommelier was founded by the early Cosmos core contributors Zaki Manian, Kristi Põlsdam, Jack Zampolin, and Kevin Kennis. Zaki, who serves as CEO, has been a leading developer in the blockchain space since 2014, when he taught himself cryptography and began contributing to projects including Bitcoin, Ethereum, Zcash, and Tendermint. He helped build the Cosmos ecosystem, including launching the first public Cosmos testnet and served as director of Tendermint.

SOMM is available for trading on Osmosis (https://coinmarketcap.com/exchanges/osmosis/), and strategy tokens associated with Cellars will be available there as well as on DEXes like Uniswap.

The all-time high of SOMM was 0 USD on 1970-01-01, from which the coin is now down 0%. The all-time high price of Sommelier (SOMM) is 0. The current price of SOMM is down 0% from its all-time high.

As of , there is currently 0 SOMM in circulation. SOMM has a maximum supply of 500.00M.

The current market cap of SOMM is 0. It is calculated by multiplying the current supply of SOMM by its real-time market price of 0.001381911953.

The all-time low of SOMM was 0 , from which the coin is now up 0%. The all-time low price of Sommelier (SOMM) is 0. The current price of SOMM is up 0% from its all-time low.

Sommelier (SOMM) has a market capitalization of $0 and is ranked #9006 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Sommelier (SOMM) price trends and patterns to find the best time to purchase SOMM.