Sommelier Price (SOMM)

Sommelier (SOMM) Price Now

Sommelier price today is $0.0972 with a 24-hour trading volume of $22,328. SOMM price is down -7.38% in the last 24 hours. It has a circulating supply of 180.57Mil SOMM tokens and a max supply of 500Mil.
In order to search for real-time and historical information about Sommelier (SOMM) blockchain, including data related to blocks, transactions, addresses, and more, you may use Sommelier (SOMM) block explorers. Here are some of the most popular and useful Sommelier (SOMM) blockchain explorers out there:

• sommscan.io
• etherscan.io

What Is Sommelier(SOMM)?

SOMM is the token that underlies all transactions on the Sommelier protocol. It captures the fee revenue that is generated by the system and incentivizes each role in the ecosystem to continue performing their function and participate in protocol governance.

Sommelier is a DeFi blockchain protocol, built on the Cosmos SDK, and a bi-directional Ethereum bridge. Taken together, this collection serves as a co-processor to Ethereum - that is they are using a Cosmos chain to process as many of the calculations as possible off Ethereum. The protocol is powered by validators and LPs who can benefit from a wide array of transaction features, such as portfolio rebalancing and limit orders based on dynamically changing market conditions.

Although Sommelier is created to support multi-chain transactions, Sommelier has predominantly focused and tailored its overall model to tap into Ethereum’s vast DeFi ecosystem as a starting point.  By allowing strategy calculations to be done off-chain, Sommelier employs a unique architecture to keep strategies private and allows them to employ a wide variety of off-chain data modeling techniques which are used in traditional finance.

The protocol also 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.

Why Sommelier?

• Automated signature management for Ethereum transactions which enable automated DeFi trading for increased liquidity momentum and yield capture.
• Unique architecture that allows Sommelier to ingest data input from off-chain models. This keeps the strategy private as well as allow the cellar to be fed information from data models that large CeFi hedge funds are used to.
• Ethereum transactions are managed by a bridge optimized for extending Ethereum features for users.
• By using the Cosmos SDK, Sommelier can offer a modular and robust protocol with Tendermint Consensus, a world class and tested protocol layer. Using Cosmos allows fewer transactions to be performed on Ethereum, which keeps gas costs low.
• Transactions are managed by the Sommelier validator set with decentralized governance, so Sommelier cannot steal user funds, network function is entirely responsive to user preferences and the protocol remains censorship-resistant.

What are Sommelier Strategies?

Each strategy is essentially a dynamic algorithm prepared by financial and crypto market experts. Algorithms observe market signals (both off and on-chain) 24/7 and are capable of executing portfolio redistribution instructions in real time. Portfolio change instructions are prepared based on strategy objectives that can include maximising yield and mitigating risk.

Sommelier (SOMM) Community

• Twitter: https://twitter.com/sommfinance
• Discord: https://discord.com/invite/ZcAYgSBxvY
• Telegram: https://t.me/getsomm

What is Sommelier (SOMM) Contracts address?

• Ethereum: 0xa670d7237398238de01267472c6f13e5b8010fd1