- #6005
Sommelier SOMM
SOMM Price
Market Cap
--Rank #6005FDV
$51.40 MRank #3426Investors
Twitter Followers
Twitter Performance
874Rank by Twitter #1221- 0
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- 4000
Detailed Performance
SOMM shows Bearish signs against top cryptocurrencies, leading categories and blockchains over various time periods
SOMM to USD Converter
Price History
- All-Time High
- $7.0968.97x to ATH
- All-Time Low
- $0.062921.63x to ATL
- Trade Launch Date
- 1 Feb, 2022
814 days ago
Fundraising
See more- ICO Price
- --
- Funds Raised
- $27.50 M
- Tokens Sold
- --
Exchanges
Exchanges type
About SOMM
Sommelier is a platform that provides tools and infrastructure for strategy creators to design and deploy various types of strategies. It allows users, even those with minimal programming experience, to run strategies effectively. These strategies can range from simple ones that consider APY signals from connected protocols to more complex ones that incorporate external signals such as on-chain signals from DeFi protocols, DEXes, off-chain signals like equity index changes, and aggregated social media sentiments. Sommelier operates as a non-custodial platform, storing funds directly on strategy smart contracts or DeFi platform smart contracts depending on the strategy's nature. Transactions on Sommelier are managed by a decentralized governance system, ensuring the security of user funds.
What makes Sommelier unique?
Sommelier is unique compared to other cryptocurrencies due to several factors. Firstly, it offers advanced crypto portfolio strategies created by financial and crypto market experts, providing users with a range of options tailored to their risk profile and crypto asset preferences.
Secondly, Sommelier is a non-custodial platform, meaning that user funds are not held by a centralized entity. Instead, funds are stored directly on strategy smart contracts or on DeFi platforms' smart contracts in the case of lending crypto assets. This enhances security and reduces the risk of funds being stolen.
Furthermore, Sommelier utilizes a decentralized governance model, with transactions managed by the Sommelier validator set. This ensures that the platform cannot steal user funds and provides transparency and accountability.
In terms of security measures, Sommelier's architecture allows strategy creators to design strategies with a wide variety of possibilities. Strategy algorithms can incorporate inputs ranging from simple APY signals from connected protocols to more sophisticated signals, including on-chain signals from DeFi protocols and DEXes, off-chain signals like equity index changes, and even aggregated social media sentiments.
Additionally, Sommelier leverages the Cosmos Stargate SDK, a modular and robust protocol with Tendermint Consensus, which ensures a world-class and tested protocol layer. It also utilizes a Bi-Directional Gravity Bridge to manage Ethereum transactions and aggregates and batches transactions to significantly reduce gas fees.
Overall, Sommelier stands out in the cryptocurrency space due to its diverse range of portfolio strategies, non-custodial nature, decentralized governance, advanced security measures, and efficient transaction management.
Live Sommelier Price Data
The current price of Sommelier (SOMM) is approximately $0.1028, reflecting a decrease of -3.17% in the last 24 hours. The SOMM trading volume in the last 24 hours stands at $13,623.75.
For a comprehensive list of exchanges, visit our crypto exchanges page. To understand Sommelier's performance over time, consider exploring its price history and ROI. For in-depth analysis and insights on SOMM, check out our crypto insights page.
Tags
Official Links
SOMM to USD Converter
Price History
- All-Time High
- $7.0968.97x to ATH
- All-Time Low
- $0.062921.63x to ATL
- Trade Launch Date
- 1 Feb, 2022
814 days ago
Fundraising
See more- ICO Price
- --
- Funds Raised
- $27.50 M
- Tokens Sold
- --