Sommelier

Price

(somm)
Note: This platform does not support trading services in this currency
$0.02970317 +6.3%

      Overview

      somm Price Live Data

      somm Price Information

      24h Low/High

      24h Low $0.02655072
      24h High $0.02975532

      All Time High

      US$7.09

      All Time Low

      US$0.01399788

      High Price 7D

      US$0.03436531

      Low Price 7D

      US$0.02635859

      somm Market Information

      Market Cap Ranking

      1911

      Fully Diluted Valuation

      US$14876342

      Total Supply

      500,000,000

      Maximum Supply

      500000000

      Market Cap Advantages

      0%

      Circulation Supply/Total Market Cap

      0.001

      About somm

      Sommelier is a non-custodial, cross-chain platform for executing actively-managed DeFi investment strategies. Community members can create Cellars that execute on an investment strategy 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.

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