I just had some wine Bottles.... Uhhm I mean.. $SOMM Tokens in my wallet from an airdrop of this project I didn't know anything about. So I went to the Cellars and looked at my Bottles and Infographics to bring you some good Information of something I think will be big and is horrible overlooked in the market right now.
What is $SOMM?
A DEFI Project about utilizing Uniswap V3 and the gravity Bridge from Cosmos to increased liquidity momentum and yield capture.
This process right now is "Your tokens go into a Pool and you get rewards and manage (often micromanage) it yourself."
Sommelier changes this by giving the work to the Network of decentralized Validators, which makes it less stressful for you, the User. Transactions are managed by the Sommelier validator set with decentralized governance. Sommelier cannot steal user funds!
Another big thing would be the impermanent loss issue many have with providing Liquidity on DEXs. $SOMM solves this by automatically rebalancing your portfolio when pool performance changes such that Impermanent and unrealized losses require a change in strategy. Risk can be chosen by the User before using the $SOMM services and changes depending on your "Cellar".
Cellars are smart contracts that are designed to manage funds based on a particular investment strategy.
Transactions and function calls are only settled on-chain when the Validators reach consensus.
Here you can find a guide on How to Launch a Cellar yourself on Sommelier.
If you have been providing Liquidity on Osmosis or UniV3 or/and are a early User of the $SOMM Protocol you got an Airdrop waiting for you here: https://airdrop.sommelier.finance/osmosis/
The $SOMM Token went live today on Osmosis and is currently Trading at a Price of 1$ per Token.
It looks to me like this is very well planned out and once it gains some traction in getting discovered and used by people it should have a bright Future.
I'm going to close this with some useful Links:
Thanks for reading,
Disclaimer - The content in this Article and on this channel are not intended to be financial advice. The content in this Article and on this channel are only intended for entertainment and educational purposes only!
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