Sommelier

SOMM Price

What is Sommelier about?

Sommelier is a non-custodial, cross-chain platform designed for executing actively-managed DeFi investment strategies. It allows community members to create Cellars, which are smart contract-based investment vehicles that follow strategies developed by Strategy Providers (SPs). These strategies are executed by Sommelier Validators, aiming to generate yield for the community.

What makes Sommelier unique?

Sommelier's unique architecture includes a custom Cosmos SDK blockchain, an off-chain execution environment for private strategy development, and a high-performance ETH bridge. This bridge is expandable to other chains like Polygon and Avalanche, allowing strategies to operate beyond high gas fee environments. Additionally, Sommelier aggregates and batches transactions to reduce gas fees, making it a cost-effective alternative to Ethereum's high transaction costs. Its decentralized governance model ensures security, with validators executing strategy instructions without moving user assets across the bridge. Cellars are non-custodial, allowing users to withdraw assets at any time while ensuring strategy providers never own the assets.

What can Sommelier be used for?

Sommelier can be used for a variety of investment strategies, such as:

• A portfolio of BTC and ETH rebalanced based on machine learning-identified price trends.
• NFT trading strategies leveraging Twitter sentiment around specific collections.
• Hedging liquidity provision on DEXes.

Where can you buy Sommelier?

SOMM tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade Sommelier is Osmosis, where the most active trading pair SOMM/OSMO has a trading volume of $3.57 in the last 24 hours.

What is the daily trading volume of Sommelier (SOMM)?

The trading volume of Sommelier (SOMM) is $7.06 in the last 24 hours, representing a -79.40% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Sommelier (SOMM)?

Sommelier (SOMM) reached an all-time high of $7.09 and an all-time low of $0.0001998. It’s now trading -100.00% below that peak and 185.00% above its lowest price.

What is the market cap of Sommelier (SOMM)?

Market capitalization of Sommelier (SOMM) is $213,708 and is ranked #4913 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of SOMM tokens (370 Million tokens are tradable on the market today).

What is the fully diluted valuation of Sommelier (SOMM)?

The fully diluted valuation (FDV) of Sommelier (SOMM) is $285,099. This is a statistical representation of the maximum market cap, assuming the maximum number of 500 Million SOMM tokens are in circulation today. Depending on how the emission schedule of SOMM tokens are designed, it might take multiple years before FDV is realized.

How does the price performance of Sommelier compare against its peers?

With a price increase of 55.20% in the last 7 days, Sommelier (SOMM) is outperforming the global cryptocurrency market which is up 3.90%, while outperforming when compared to similar Restaking cryptocurrencies which are up 8.10%.