Sommelier Finance

Sommelier Finance is a decentralized platform specializing in DeFi portfolio management and liquidity provision, using intelligent vaults that dynamically adapt strategies based on real-time data. These vaults optimize for factors like yield predictions, market shifts, and cost efficiencies. The SOMM token, integral to the ecosystem, is used for staking, paying gas fees, and governance, such as voting on proposals. Governance is driven by SOMM holders who participate in a structured process involving community feedback and on-chain voting to make key decisions. Sommelier has secured $26.5 million through two funding rounds.

Sommelier Finance is a decentralized and automated platform for DeFi portfolio management and liquidity provision. At its core, Sommelier leverages intelligent vaults that adapt their strategies based on real-time market data and forecasts. These vaults can predict market yields, react to significant market changes, optimize to reduce costs like gas fees, and evolve by updating their algorithms to seize new investment opportunities.

The Sommelier protocol is governed by SOMM token holders. A number of items must be voted on and approved by the community including strategist onboarding, Vault activations, community spend proposals, protocol upgrades, and parameter changes. The Sommelier governance process begins with proposals being posted on the forum for at least three days for community feedback, followed by a transition to on-chain voting, which lasts 48 hours. A deposit of 5,000 SOMM is required to prevent spam; proposals move to vote immediately if this deposit is fully paid or after a 48-hour deposit period if not. Proposals must achieve a quorum and approval of 50% of staked SOMM to pass, with the option for validators to vote using delegated power and stakers to vote directly or override their validators.

SOMM is a crucial component of the network and plays a vital role in ensuring its security and operation. SOMM has three critical functions within the Sommelier ecosystem. SOMM can be staked to select validators to secure the network.SOMM can be used to pay for gas fees and SOMM can be used to create and vote on proposals.

Sommelier has raised a total funding of $26.5M over 2 rounds. Its first funding round was on March 10th, 2021. Its latest funding round was a Series A round on October 20th, 2021 for $23M.