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Sommelier Finance (SOMM)

Sommelier is a decentralized protocol that empowers community members to automate DeFi investment management. Cosmos Stargate SDK, its Tendermint-based consensus layer and a decentralized, bi-directional Ethereum bridge, managed by a global network of validators.

Seed Round: $3.5 Million

Series A Round: $23 Million

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Overview

Project industryBlockchain Infrastructure
Product typeTechnology
FoundedUnited States
WhitepaperSommelier Finance White Paper Open

What is Sommelier Finance

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.

Details

Token supply: 500,000,000 SOMM
Raised: 26,500,000 USD

Legal

Registration country: Estonia
Registration year: 2021
Office address: Maakri 36-50, Tallinn, Estonia 10145

Token info

Ticker: SOMM
Type: Utility-token
Token distribution:
30.0% - On Chain Governance
10.0% - Peggy JV Inc.
20.0% - Investors & Advisors
40.0% - Sommelier LTD

Project team

Jack Zampolin
Jack Zampolin
Co-Founder
Jack Zampolin linkedin
Kevin Kennis
Kevin Kennis
Co-Founder
Kevin Kennis twitter
Shyamal (Sam) Patel
Shyamal (Sam) Patel
Head of Product and Business Development
Shyamal (Sam) Patel linkedin
Joseph Terrigno
Joseph Terrigno
Senior Data Scientist
Joseph Terrigno linkedin
Collin Brittain
Collin Brittain
Protocol Engineer
Collin Brittain twitter
Zaki Manian
Zaki Manian
Co-Founder
Zaki Manian linkedin
Eric Bolten
Eric Bolten
Head of Protocol Development
Eric Bolten linkedin
Tyler Schidmt
Tyler Schidmt
Frontend Lead
Tyler Schidmt linkedin
Sunand Raghupathi
Sunand Raghupathi
Head of Research and Development
Sunand Raghupathi linkedin
Kristi Põldsam
Kristi Põldsam
Co-Founder
Kristi Põldsam linkedin
Mantas Vidutis
Mantas Vidutis
Senior Protocol Engineer
Mantas Vidutis linkedin
Phil Bal
Phil Bal
Protocol Engineer
Phil Bal linkedin
Stephanie Vaughan
Stephanie Vaughan
Head of Operations
Stephanie Vaughan linkedin
Josh Kessler
Josh Kessler
Director of Growth
Josh Kessler linkedin
Henri Ots
Henri Ots
Product Manager
Henri Ots linkedin

Social media

Sommelier Finance web-siteSommelier Finance MediumSommelier FinanceYouTubeSommelier Finance TelegramSommelier Finance X (Twitter)Sommelier Finance Discord

MVP

MVP URL

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