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Sommelier

Sommelier SOMM Price $ 0.173

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DeFi

SOMM Price

0.173
1.49%
(-$ 0.00261)
Price Range
LowHigh
$ 0.165$ 0.178

General Info

Contracts/Explorers:

Explorers

Tags (Sub-Categories):

#Token

Funds and Backers

Description

Sommelier is a decentralized protocol that empowers community members to automate DeFi investment management

Sommelier (SOMM) Chart

The Sommelier to USD chart is designed for users to instantly see the changes that occur on the market and predicts what will come next.

SOMM to USD Converter

Sommelier (SOMM)SOMM

SOMM Price Statistics

leaderboard

Market Cap

N/A

FDV

$ 86.28M

24 Trade Vol.

$ 51.51K

Max Supply

SOMM 500,000,000

Total Supply

SOMM 500,000,000

Listing Date

1 Feb 2022

All Time High

$ 7.98

10 Feb 2022


All Time Low

$ 0.0634

8 Jan 2023


From ATH

97.8%

From ATL

172.3%

Sommelier Price Analysis

What is Sommelier (SOMM)?

Sommelier is a coprocessor for Ethereum that moves DeFi assets from Automated Market Makers (AMMs) into higher yields more quickly and cheaply than previously possible. This is done through automated investment strategies implemented across different protocols. Community members can create Cellars that execute 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.

What are the main use cases for Sommelier?

  • Automatically rebalance your portfolio when pool performance changes such that impermanent and unrealized losses require a change in strategy
  • Automatically rebalance the portfolio to focus on high yield Liquidity Provider opportunities and exit lower-yielding opportunities
  • Aggregating and batching transactions with Sommelier will yield lower gas prices for growing demand among Liquidity Providers to manage pool position and performance
  • Native transaction batching and roll-ups deliver greater liquidity momentum to capture on-chain yield on the Ethereum blockchain.

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.

There are six different ways to generate revenue using Sommelier:

  • Earn yield through depositing ETH token pairs into a Cellar
  • Create a Cellar and earn fees as a percentage of Cellar profits
  • Provide a Strategy to one or multiple Cellars and earn fees as a percentage of Cellar profits
  • Validate transactions on the SOMM network and earn revenue as a small percentage of fees from the Cellars
  • Build your own frontend for the Sommelier protocol and earn fees generated from your users.

Sommelier Price Today

Sommelier's current price is $ 0.173, it has dropped -1.49% over the past 24 hours.

Sommelier's All Time High (ATH) of $ 7.98 was reached on 10 Feb 2022, and is currently -97.8% down.

You can find more details about Sommelier on its official website and on the block explorer.

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